Startmate is one of Australia’s most successful Accelerator programs. Since its inception in 2010, Startmate has invested in over 99 startups with a combined valuation of over $600,000,000 and over 1,400 jobs created by alumni. Powered by successful entrepreneurs and venture capitalists, Startmate encourages ambitious founders to hit their next milestone and offers invaluable resources, advice and support along the way.
Startmate was provided the opportunity through a LaunchVic's second funding round to bring the accelerator program to Melbourne to grow the Victorian startup ecosystem and build founder capability through mentorship at every stage of the startup journey. As a result of Startmate's success, additional funding was granted to deliver two Accelerator Programs for 20 startups over 2 years. This funding supported Startmate to continue its Melbourne operations over 2019-2020 with two accelerator programs to help startups grow.
Startmate was granted a further $1.8 million to continue strengthening the investor landscape and founder capability for Victorian startups. This funding will see Startmate continue to deliver the accelerator program for 30 Victorian startups over 2021-2023, establish a permanent Victorian office and recruit a permanent local team. Startmate will also establish an investor program raising $3 million over three years to be invested into Victorian Startups who complete the Startmate Melbourne Accelerator program.
Accelerator Program Details
|Program Location||Melbourne (Online delivery during COVID-19)|
|Industry Focus||Sector Agnostic|
|Length of Program||12 weeks|
|Application Period||May - June|
|Program Engagement||The program commences with a a two-night offsite, then consists of regular meetings, workshops and 1:1 mentoring, culminating in a final Demo Day and a 2 week trip to San Francisco 9. (The SF trip is not running during of COVID-19 restrictions)|
|Venture Stage||Pre Series A|
|Program Cost||$0 program fee|
|Investment Structure||$75,000 at a $1M valuation for 7.5% equity through a standard SAFE note. If you have signed term sheets for more than $250,000 by the application deadline, they will match the latest valuation|
|Desk Space||NoLocated in Melbourne CBD (not available during COVID-19 restrictions)|
Visit the Startmate website to view application dates and more information on the program.