Designed to turn Australian technical founders into successful global entrepreneurs, one of Australia’s first start-up accelerators Startmate is now open for applications.
The program will run next year from January to May. Companies will spend three months in Sydney and two in San Francisco.
Startmate is seeking around eight companies, which will receive $50,000 in seed capital, in exchange for 7.5% equity.
Startmate co-founder Niki Scevak told StartupSmart they’re seeking founders with big dreams and plans.
“Beyond the very product centric technical team, we’re looking for people with large ambitions, the crazier the idea the better. We really want to work with teams who want to make a big difference in the world, so the scale of the ambition is what we’ll be selecting,” Scevak says.
He says they’re committed to approaching each pitched idea with an open mind, adding that being the hundredth start-up to tackle an idea didn’t hurt Google, Facebook or Atlassian.
“Anyone doing anything in an incredibly crowded area will be taken as seriously as brand new ideas. The ideas may sound incremental, but it really does matter why the founders have chosen to pursue this idea, and if they have a unique insight into it,” Scevak says.
“It’s about why they care about their customers and if they have an authentic connection to the market. We look for what in their lives have driven them to this idea.”
The program includes an impressive line-up of mentors including Atlassian co-founders Mike Cannon-Brookes and Scott Farquhar; Tjoos co-founder Bart Jellema; and Spreets co-founder Dean McEvoy, as well as several partners from Square Peg Capital and Blackbird Ventures.
Start-ups can apply via Angel List.