Airwallex extends University partnership with $2m donation

The University of Melbourne alumni-founded fintech unicorn Airwallex has extended its partnership with the University. The extension aims to accelerate cultivation of the next generation of technology and entrepreneurship talent.

A core pillar of the University’s strategy over the past decade has been to support the growth of Australia’s dynamic technology sector.

This has seen strategic investments in entrepreneurship curriculum, the establishment of several University-wide centres, such as the Melbourne Entrepreneurial Centre, which helps drive the University’s vision for innovation and entrepreneurship, the Wade Institute, and the innovation ecosystem hubs within the Faculty of Engineering and Information Technology, Melbourne Connect and Cremorne Digital Hub.

These initiatives are part of a major program that seeks to enable university R&D commercialisation and strengthen linkages to the regional technology sector.

Dean of the Faculty of Engineering and Information Technology Professor Thas Nirmalathas is delighted that the partnership has been extended.

“This is the leadership we hope for from our alumni. It is marvellous that one of the University’s greatest entrepreneurship success stories is fully committed to paying it forward to the next generation, not just with their capital, but with their time, expertise and enthusiasm,” Professor Nirmalathas said.

A vibrant technology sector is critical for Australia’s continued economic prosperity and partnerships across academia, and industries such as Airwallex are precisely what is needed in Australia’s tech sector.

The initial three-year, $3m partnership with Airwallex played a vital part in this effort, with 43 students receiving Airwallex Scholarships, valued at up to $30,000 each, and 60 graduate and undergraduate students, who faced financial difficulties, receiving financial assistance. In addition, the wider cohort of IT students benefitted from: visits to Airwallex offices for in-depth information from employees and graduate employees; guest lectures from Airwallex staff; and Airwallex-sponsored events such as the Programming Club’s annual coding competition, FEIT hackathons and more.

University of Melbourne alumna Amanda Chao received a 2023 Airwallex Scholarship while studying for her Bachelor of Science (Computing and Software Systems).

“Airwallex's commitment and support of the computing community and each individual's potential within it never fails to amaze me,” Ms Chao said. “I credit so much of my computing passion to Airwallex, which is a unique company through its roots within the University, while shaking up the foundations of technology and finance across the globe.”

From left: Amanda Chao, Laradell Tria and Dinuka Piyadigama benefited from Airwallex Scholarships.

Laradell Tria received an Airwallex Scholarship while undertaking a Master of IT (Artificial Intelligence). The scholarship provided financial support for her studies, including a new laptop, support for other learning programs, networking opportunities with fellow scholars and one-on-one mentoring with an Airwallex employee.

“The mentoring gave me perspectives on how IT is different to what I was used to,” she said. “For example, they consider many technical aspects beyond coding, like coming up with creative solutions to gain an edge over competitors.”

An Airwallex Excellence Scholarship enabled Dinuka Piyadigama to travel to Amsterdam for the Global Business subject in his Master of Software Engineering. He worked as a business consultant for a company that uses AI to automate marketing for businesses and is now a senior software engineer, leading agentic AI solutions at collective impact innovations company Shapeable. He is also head tutor of a software project subject at the University of Melbourne.

“I gained amazing exposure from my experiences that will position me to transition into a managerial role in tech in the future,” he said. “Coming from South Asia, with experience working in East Asian markets, and then gaining Asia-Pacific and European experience set me apart from the average software engineer.”

Airwallex Co-Founder and President and University of Melbourne alumna, Ms Lucy Liu said the two-year $2m extension of the partnership builds on the first phase, with the partners continuing to learn and refine their approach.

“This new phase will double-down on areas of impact, such as the hardship opportunity fund, which was mission-critical for enabling some students to continue their degree programs, despite economic challenges,” Ms Liu said. “The partnership will seek to support students more comprehensively throughout their learning and entrepreneurship journey, including more structured supports to build their ventures.”

The new phase consists of the following areas, which collectively span a student’s learning and entrepreneurship journey:

• Airwallex Excellence in Technology Scholarships and cohort enrichment programs for undergraduate students majoring in Computing and Software Systems, or graduate coursework students in FEIT’s School of Computing and Information Systems.
• Airwallex Opportunity Grants for students undertaking a degree in Information Technology and experiencing disadvantaged circumstances.
• Airwallex Student Engagement and Enrichment Program for activities that create connection and foster a technology innovation mindset, including support for FEIT Endeavour Awards, an annual start-up competition, student clubs, access to entrepreneurial-based workshops, mentorship and more.
• Enhancing the School of Computing and Information Systems’ Student Innovation and Technopreneurship Program, including a highly subscribed graduate course in Digital Innovation and Technopreneurship, activities that develop an innovation mindset and foster student engagement in the University’s start-up ecosystem.