High profile patrons John Bertrand and John Winning Jr view Australia's participation in the inaugural women's America's Cup next year as a springboard back into challenging for the traditional trophy.
Australia was on Thursday officially confirmed as one of the 12 nations in the women's and youth (under 25) competitions in Barcelona, Spain where the traditional America's Cup will also be staged.
The full list of competing nations for the women's event has not been released yet.
Both the women and youth events will be contested in newly designed AC40 foiling yachts designed by Emirates Team New Zealand.
It will be the third youth America's Cup, but the first to feature an Australian boat, while the women's team will be skippered by 2012 Olympic match race silver medallists Nina Curtis and Olivia Price.
"It's not just about this America's Cup, it's about the legacy that we're building now, putting our foot back in the door, getting Australia back where it belongs," Curtis told AAP.
Australia's last America's Cup campaign was way back in 2000 under Syd Fischer.
While the likes of Bob Oatley subsequently expressed interest, no-one has found the financial backing to make it happen.
"As we say in the world of America's Cup, 'no cash, no splash,'" 1983 Cup-winning skipper Bertrand told AAP.
"You can have the best talent in the world but if you don't have the money to make it happen, including technology development, then you can't do it.
"In terms of public interest I think this will be a big deal next year in Barcelona.
"I think it's a natural pathway to a full blown America's Cup project."
Businessman Winning Jr, who skippered supermaxi Andoo Comanche to a Sydney to Hobart line honours triumph last December, also has an America's Cup vision extending beyond next year.
"We've got to have a winning attitude, we've got to be going there (Barcelona) to win and secondly I want this to be a springboard into having a traditional America's Cup team," Winning Jr told AAP.
Applications to join the women's and youth teams have opened.
"There's not going to be a whole lot of training time and so we're looking for those very adaptable athletes that can get up to spread really quickly," Curtis said.
She was bullish about the prospects of the Australia women's team in Spain.
"We wouldn't be here if we didn't think we could win."
