News, Insights and Stories from the Australian and New Zealand tech ecosystem.

2013 Applications for Startmate Open – $50K for 7.5%

 

It’s that time of year again when the Australian incubators open for the next round of tech super stars to come from across the country with their ideas and teams, to be educated, stripped back, MVP’d, coached, mentored, critiqued, inspired and to ride the big fuck off roller coaster that is Startup Land for an intense 5 month program in Sydney.

Startmate are about to begin searching through what will be hundreds of applications for their 2013 class where those selected will receive $50,000 for a 7.5% stake in their company, up from the $25,000 of the past two classes. Startmate have seen some very lucrative successes come their way from past graduates with Grabble being acquired by Walmart Labs and the stella US success and investment given to 2012 graduates Scriptrock, Ninja Blocks, Flightfox and Happy Inspector to name a few.

The reality is, shit is really starting to come together in the Aussie startup scene, people are starting to see startups as a “hip and trendy” thing meaning that things are:

a) Going to become a lot more competitive in the startup space, especially from a PR perpective

b) It is going to be a lot more work to distinguish the short term fizzle out’s from the long term stayers

So if I may a suggestion before you hurry over to fill out the forms, put a team together and think you are going to fly over to the Valley next year and sell out in 11 months and take off to Bora Bora with a savings account that has more zero’s on the end of a number than you can count. Our incubators are and are meant to be a boot camp, this is not a cash prize it is an investment – you will be expected to deliver a return – that may take 10 years of bootstrapping, pivots and head to desk moments to achieve – but if you are serious about it and are willing to undergo what is nothing short of a life changing experience, I look forward to seeing you grow throughout the program and interviewing you once you are ready to launch into BETA as I did with the last class.

Good Luck everyone – If you are keen Apply to Startmate 2013 here.

 

 





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