venture-dorm1Flinders University is the first Australian University to accept payments in Bitcoin.

Though Flinders University doesn’t accept yet Bitcoin is as general payment option for university fees, Flinders’ New Venture Institute is now running a pilot project and accepting Bitcoin as payment for its Venture Dorm program for practical, experiential, entrepreneurial education.

Venture Dorm provides an educational environment for people who want to learn how entrepreneurs build new ventures and then create one themselves. The aim is taking an idea, finding a viable business model which is scalable and repeatable, from scratch, in less than 12 weeks. Traditional business teaching is unsuitable for new ventures, as is just building a product insufficient for commercial success. This is an initiative to save time and reduce an entrepreneur’s learning curve to commercialization.

Also read: The University of Cumbria in England Accepts Class Fees to be Paid in Bitcoins

Some renowned universities worldwide are already accepting payments in Bitcoin for fees. In June, The King’s College in New York City became the first accredited college in the United States to accept Bitcoin for tuition, other expenses, and donations. “Much like the first universities or businesses to obtain email addresses,” says their announcement, “The King’s College is standing at the forefront of change.”

Flinders is the first Australian university to follow suit.

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Bitcoin use is exploding in Australia, Business Insider Australia reports, with ATMs now in Melbourne, Sydney and Canberra, and with more than 160 vendors accepting Bitcoin as payment.

Two weeks ago, Australian company CoinJar unveiled the country’s first Bitcoin debit card, fully integrated with Australia’s leading electronic payment network. Last week, Bitcoin’s first cashless ATM, developed by Diamond Circle, went live in Queensland.

Images from Flinders University/New Venture Institute and Shutterstock.