{"id":41905,"date":"2023-10-20T15:17:19","date_gmt":"2023-10-20T15:17:19","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/techstars-network-to-expand-incubator-model-to-australia-startupsmart\/"},"modified":"2023-10-20T15:17:19","modified_gmt":"2023-10-20T15:17:19","slug":"techstars-network-to-expand-incubator-model-to-australia-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/techstars-network-to-expand-incubator-model-to-australia-startupsmart\/","title":{"rendered":"TechStars Network to expand incubator model to Australia – StartupSmart"},"content":{"rendered":"
A TechStars-based model is to launch in Australia next year, with the celebrated US start-up incubator handing a licence to an Adelaide-based firm via its TechStars Network program, StartupSmart can reveal. <\/span><\/p>\n <\/p>\n SME Growth Capital was chosen to operate as part of the TechStars Network, a global group of independently-run start-up accelerator programs that operate in a similar way to TechStars in the US.<\/p>\n <\/p>\n It\u2019s anticipated that the Australian program will roll out in March next year, with applications tentatively anticipated to open in late November.<\/p>\n <\/p>\n The initiative, which has been given a four-year licence to operate in Australia, will be known as Innovyz Start, to tie in with SME Growth Capital\u2019s own rebranding to Innovyz.<\/p>\n <\/p>\n The arrival of a TechStars-based incubator scheme in Australia is likely to be warmly welcomed by tech start-ups in the country.<\/p>\n <\/p>\n TechStars is seen by many industry observers as the world\u2019s premier accelerator of new businesses. Founded in 2006, it operates from four locations across the US, with a global affiliate network launched last year.<\/p>\n <\/p>\n The program works by offering selected start-ups $18,000 in funding in return for a 6% equity stake. It estimates that 70% of its participants, around 60 businesses a year, receive further funding after completing the three-month TechStars mentorship program.<\/p>\n <\/p>\n