The New Venture Institute, established in June 2013 by Flinders University of South Australia, is now accepting Bitcoin for it's 12 week entrepreneurial education program named Venture Dorm.

The aim of Venture Dorm is to take students who wish to learn how entrepreneurs build new ventures and then prepare them for creating one themselves. In less than 12 weeks, students will take an idea, find a viable business model which can be scaled and repeated, doing so from scratch using the "Lean Startup" methodology.

The initiative is designed to save time and reduce the learning curve that entrepreneurs face commercialising a product.

Pre-requisites require students to have an interest, commitment and passion for exploring if an idea could become a viable business. Students will also be required to blog about their progress on a weekly basis. Cost of the course is AUD $749, scholarships are available for suitable applications.