AS AMBITIOUS as he is, Alan Finkel could not have dreamed up the line he will add to his resume in 2009.

After more than 25 years building a street directory-sized CV, Dr Finkel - inventive scientist, philanthropic environmentalist and wildly successful entrepreneur - will become the first Australian university chancellor to travel into space.

Monash University yesterday named Dr Finkel as its next governing figurehead, opting for an energetic, working-age businessman for what is usually a ceremonial appointment.

He is the first Monash graduate to take on the chancellor's position in the university's 50-year history.

Dr Finkel's appointment comes after he made headlines by becoming the third Australian to pay $267,000 to take a trip more than 100 kilometres from the Earth on Richard Branson's trailblazing Virgin Galactic passenger flight.

He said he was surprised but excited when approached about the position by a member of the university's council. He was ready for a change.

"It came totally out of the blue . . . Monash is my alma mater and I'm passionate about education. I love science, I love education."

An electrical engineer and neuroscientist by training, Dr Finkel moved to Silicon Valley in 1983 to set up biotechnology company Axon Instruments, taking with him his first major invention - a device that measured electrical activity in heart and nerve cells.

Over nearly two decades Axon built an enviable reputation that allowed a lucrative float on the Australian Stock Exchange in 2000. Dr Finkel and the Axon board sold to a U.S.-based company in 2004, and after overseeing the handover for 18 months, he opted out at age 52.

With his wife Elizabeth, a scientist and journalist, he began a publishing company and launched a magazine, the science-focused COSMOS. G, a guide to sustainable living, followed late last year.

Dr Finkel said he hoped he could make use of his global experience in science at Monash, which is looking to expand internationally.

Dr Finkel starts in the job in January, replacing Jerry Ellis, chancellor since 1999.

ALAN FINKEL'S CV

1980 Graduates with a PhD in electrical engineering from Monash University.

1981-82 Research fellow in neuroscience at the Australian National University. Develops a device measuring brain cells in mammals.

1983 Founds biotech company Axon Instruments in California.

2000 Floats Axon on the Australian Stock Exchange.

2002 With wife Elizabeth, listed on the BRW rich list with a reported fortune of $215 million.

2004 Invents a device that lowers costs and improves efficiency in drugs testing.

2005 Sells Axon to U.S.-based Molecular Devices. Co-founds boutique publishing company Luna Media and launches science magazine COSMOS. Wins Clunies Ross Australian Technology Achievement Award.

2006 Made Member of the Order of Australia for contributions to science and education. Launches environmental magazine G.

2008 Monash University chancellor.

2009 To fly into space with Virgin Galactic, the private spaceflight company run by Richard Branson.