Ten new startup teams armed with innovative business ideas have been selected for the University of Melbourne's Melbourne Accelerator Program (MAP).

The five month program will see the each team receive A$20,000 in early stage funding, structured mentoring, development workshops and pitching opportunities in Melbourne, Sydney and Silicon Valley in the USA.

Ideas flowing from the group include: an all-terrain buggy board, genetically guided antidepressants and an innovative booking platform for all wellness, beauty and fitness services in Melbourne.

Each start-up will also be given office space in LAB-14, located at The University of Melbourne.

The teams have been selected from 124 applicants, without the requirement this year, that a founding team member be a student, staff or alumni within five years was scrapped.

This has enabled more women and mid-career professionals to launch a startup.

MAP was ranked the 8th best university accelerator program in the world by Swedish research firm UBI Global last year.

The program's previous 24 alumni teams have raised over $10 million in funding, created more than 200 jobs and generated over $10 million in revenue.

MAP has grown from eight to 10 startups this year as a result of its partnership with Australia Post, which has funded two e-commerce places to be announced at the MAP Launch Party.

Full intake list for 2016:

Allume Energy — A renewable energy technology company focused on grid sharing and solar as a service for Australian communities.

Kind — Provides home care services to help seniors live a fulfilled life in their own home.

Onomap — Identifies unique insights from customer data.

Black — A collective of hackers looking to build a smarter world.

Bajaboard — An all terrain buggy at your feet.

Shacky — Tiny house farmstays.

Honee — The discovery and booking platform for all wellness, beauty and fitness services in Melbourne.

Deliciou — Offers premium blends of healthy snacks and seasonings.

Axon — Guiding clinician care and communication along the entire patient journey.

CNSDose — Genetically Guided Antidepressants: Fast-Track finding the right antidepressant.