Advance, Australia’s global innovation network, and KPMG Australia today announced the launch of the elevate61 accelerator program 2017 – opening applications to startups focused on serving enterprise to an upgraded program designed to prepare them for global domination.
Companies who have participated in past elevate61 programs include Brisbane-headquartered SimPRO, who recently announced it had received a US$31 million investment from New York-based Venture Capital firm ‘Level Equity’, and Sendle, who recently closed a AU$6mil Series A round led by Australian investment firm ‘Full Circle VC’.
Building on the success of the 2015 and 2016 programs, the format has been expanded to assist more companies. Up to 20 startups will be offered a chance to participate in a three-day intensive workshop hosted in Sydney facilitated by Remo Carbone of ianden (New York) and Viki Forrest of ANZAtech (San Francisco), and will include a range of mentors and specialists from both KPMG and the startup eco-system. These workshops will help the elevate61 companies to refine their value proposition, identify their target market, and further develop their ability to effectively reach and sell to potential US clients, partners and investors.
Based on the performance in the workshops, up to 10 participants will be selected to take part in a 10-day programmed visit to San Francisco, Los Angeles and New York.
Serafina Maiorano, Global CEO of Advance commented: “elevate61 has become one of the stand out programs in Australia’s startup ecosystem. It helps our best enterprise tech startups not just to reach into US markets, but to build fantastic companies at home. By leveraging the full breadth and depth of the amazing Australian talent in key US cities – we have truly created a platform the enable the next generation of Australian tech giants to conquer markets at home and abroad.”
elevate61 is targeted at later stage, B2B startups. Ideally, applicants will have secured seed funding of at least A$100,000, have proven traction in the local or overseas markets, with preference given to startups that have annual revenues in the region of A$500,000.
Startups kick off the process by applying online, with applications closing on 23 December 2016. Unlike the traditional accelerator model, elevate61 does not seek equity in participants, instead participants pay a A$3,500 fee to join the workshops and, if selected, A$10,000 fee (plus costs) to join the 10-day mission to the US.
James Mabbott, head of KPMG Innovate commented: “Australia is building a reputation as a home for exciting enterprise technology startups – and we see a big opportunity to continue to develop these types of companies and help them to grow. Companies involved with past programs have spoken about how it saved them vast sums of money and, more importantly, time in expanding their business.”
“By expanding the program and providing more opportunities for startups to benefit from the elevate61 experts and mentors, we hope to help more Australian companies to unlock their potential. We encourage any tech startups who fit the criteria to apply.”
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