For Release: 2 October 2013
Leading Australian accelerator program drives start-up success
– Applications for 2014 program now open –
ANZ Innovyz START, the Adelaide-based business accelerator program, today announced that 60% of the start-ups to graduate from the program have raised almost $2 million in seed and angel investment, and secured contracts worth over $2 million.
The announcement comes as applications for the Summer 2014 ANZ Innovyz START program open.
Dr. Matthews, Managing Director for ANZ Innovyz START, said: “We are excited to open applications for our fourth accelerator program in Adelaide. We’ve been operating for 18 months, have graduated two classes, and have a third class currently going through the accelerator program.”
“The fact that our first two classes have already raised nearly $2 million indicates we have been able to accelerate their growth and get them investor ready,” Dr Matthews said.
Companies selected for the Summer 2014 accelerator program will receive a $20,000 stipend, participants’ access to a $20,000 loan from ANZ, and education delivery and support services valued at $500,000.
ANZ General Manager for Small Business Banking, Nick Reade, said: “ANZ is helping develop the start-up eco system in Australia. Our ongoing support of ANZ Innovyz START, coupled with our pledge to lend $1 billion to new small businesses this year, demonstrates our belief that small business is a very important sector of the economy.”
The Summer 2014 program will kick off on 10 February 2014 and wrap up on 8 May 2014.
“I’ve been pleased to see so many ANZ Innovyz START graduates grow and succeed, and I look forward to hearing from the Summer 2014 participants on Demo Day,” Mr. Reade said.
The ANZ Innovyz START Winter 2013 program is currently underway with companies gearing up to present to over 450 investors and supporters on 4 November at the Adelaide Town Hall. To attend Australia’s largest Demo Day, register here.
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Notes for the editor
Some of the successful companies to have raised funds include:
· Bluedot, Melbourne-based firm that develops high precision location-based mobile services and payments technology, has raised $225,000 from local investors on a valuation of $4.5 million and are working in partnership with leading app development company Appster.
· Captioning Studio Group, leaders in captioning and audio technology, has raised $360,000 in funding from local and offshore investors. The group has used some of this funding to further develop their video search capabilities.
· Australian Baby Bargains, online parenting community and pre-loved baby and children’s marketplace, raised $250,000 from several local investors within six months of graduating.
· Beneath the Ink, a US-based media technology firm that offers publishers and authors the ability to add rich content experiences to eBooks, has raised $305,000 through a convertible note from a group of Australian and US investors.
· Be intent, a NZ-based corporate wellness and employee motivation tool designed for computer users to enjoy good workplace health and wellbeing. The company has raised $270,000 in seed funding from private investors in Australia and New Zealand.
About ANZ Innovyz START
ANZ Innovyz START is a 13-week accelerator program, and provides a $20,000 stipend to teams of three who are selected to participate in the program. The Program Director works with each company to commercialise its break-through innovation. The program includes mentoring by successful entrepreneurs, learning programs around growing a company, identification of target markets, working and reworking the company’s plan, and a presentation to potential investors on the last day of the program. ANZ Innovyz START is one of 53 accelerators in the Global Accelerator Network. For more info: www.innovyzstart.com.
About ANZ Small Business
ANZ has more than 400,000 small business customers. ANZ supports Small Business with products and services for start ups and more mature small businesses. We approve 9 out of 10 Small Business lending applications and 7 out of 10 Start Up lending applications. We also offer business product packages for small businesses including start ups which makes banking with ANZ easier and saves money. ANZ offers small business customers a range of easily accessible tools and resources to support their business at any life stage, including ‘The ANZ Small Business Hub’ LinkedIn group which provides an interactive and inclusive community for small businesses to connect, share ideas, build profiles and open doors to new opportunities. To become a member of ANZ’s Small Business Hub community, go to LinkedIn.