Startmate, a cornerstone of the Australia and New Zealand startup ecosystem, has announced a significant leadership transition. After eight transformative years, Michael Batko is stepping down as CEO, passing the baton to the company's Chief Operating Officer, Phoebe Pincus, effective immediately. This change marks the end of a remarkable growth era and the beginning of a new chapter for the influential accelerator and investor.
A Transformative Era Under Batko's Leadership
When Michael Batko joined Startmate in 2018, he intended to learn how to build his own startup but ended up reshaping the organization itself. Over his eight-year tenure, he guided Startmate from generating $200,000 in revenue to over $3 million annually, achieving profitability and self-sufficiency. His leadership was instrumental in establishing Startmate as the most active seed fund investor in the country.
Under Batko's direction, Startmate raised over $50 million across its funds and wrote first cheques to more than 220 companies. The accelerator significantly increased its investment capacity, with initial cheque sizes growing from $75,000 to $120,000 and follow-on investments reaching up to $800,000. This financial firepower was matched by impressive returns, with early funds delivering up to 8.9x DPI for investors.
Beyond financial metrics, Batko's legacy includes a profound commitment to broadening ecosystem participation and diversity. He championed initiatives that helped over 1,000 women and 2,000 students find their place in the startup world. A key point of pride is that 42% of Startmate's investments during his tenure went to companies with at least one female co-founder.
The Legacy and Industry Recognition
Industry leaders have lauded Batko's profound impact, with Startmate founder Niki Scevak stating he "literally re-founded Startmate" and that Australia thanks him for it. Batko himself expressed pride in the community and culture built, calling his time at the helm the privilege of his career. His influence is expected to have a lasting, snowballing effect on the region's innovation landscape for years to come.
As he steps away from the CEO role, Batko plans to take a few months to focus on his young family before embarking on his next decade-long challenge. In the interim, he will leverage his extensive experience by offering executive coaching to other CEOs. This move allows him to impart hard-earned lessons while remaining deeply connected to the startup ecosystem he helped build.
A New Chapter with Phoebe Pincus
The transition to new leadership is set to be a smooth one, with Phoebe Pincus stepping into the CEO role. Having joined Startmate in 2021 as Chief of Staff and quickly progressing to COO, she has been integral to the organization's recent success. Her deep involvement has spanned critical areas including fundraising, operations, and community growth, positioning her perfectly for the top job.
Pincus has expressed her honor in taking on the new role and her commitment to continuing the mission of supporting ambitious founders. Her appointment signals a focus on building upon the strong foundation established over the past eight years. With her comprehensive understanding of the organization, the community anticipates she will lead Startmate to even greater heights in its next phase.
The leadership change at Startmate represents a pivotal moment for the ANZ tech community, celebrating a legacy of unprecedented growth while embracing a future of continued innovation. Michael Batko's eight-year tenure has fundamentally strengthened the ecosystem, creating a robust platform for the next generation of founders. With Phoebe Pincus now at the helm, Startmate is poised to continue its vital work in shaping Australia's future.