The Startmate Accelerator is a comprehensive 12-week program designed to fast-track the growth of startups within the Australia and New Zealand (ANZ) ecosystem. By providing a combination of capital, mentorship, and community access, the initiative aims to help founders build better products, increase their user base, and navigate the complexities of raising capital in a competitive market.
Investment and Financial Terms
- Standard investment of $120,000 at a $1.5 million post-money valuation for founders who have not previously raised a round.
- Valuation matching for founders who have already raised at least $250,000 from VC or angel investors (excluding friends and family).
- Flexibility for founders to choose between investment via a SAFE or a priced equity round.
- Ongoing support through the auto-deploy Continuity fund, which continues to invest in portfolio companies during subsequent raises.
Core Program Benefits
- Access to a curated community of over 4,000 of ANZ’s top founders, operators, and investors.
- Mentorship from the region's most experienced founders and industry experts.
- Fundraising support acting as a "co-pilot" to help bulletproof pitches, create strategies, and secure introductions to VCs and angel investors in ANZ and the US.
- Recruitment advantages through direct access to talent from Startmate’s various programs and memberships.A stamp of approval from the Startmate brand to assist in building credibility with potential investors and employees.
Program Structure and Timeline
- Hybrid format: A 12-week schedule featuring three in-person weeks (Week 0, Week 7, and Demo Day) with the remainder conducted remotely.
- Week 0 (Melbourne): Focuses on setting the stage, establishing ambitious goals, and identifying company blind spots.
- Weeks 1-10: Dedicated to customer obsession, growth, and building products that meet market demands.
- Week 7 (IRL Week): A mid-program reset to refine strategy, craft narratives, and prepare for fundraising.
- Weeks 11-12: Intensive preparation to become investment-ready and expedite the fundraising process.
- Finale (Demo Day): A showcase event for an audience of over 1,000 investors, operators, and founders to generate leads and media coverage.
Eligibility and Selection Process
- Industry Agnostic: Open to startups in any sector, including ed-tech, health-tech, prop-tech, climate-tech, space-tech, fin-tech, and legal-tech.
- Stage Flexible: Applications are welcome from idea-stage and pre-MVP companies; 67% of past participants had no revenue at the time of application.
- Diversity Focus: A commitment to equal representation, with 40% of portfolio companies since 2021 featuring one or more women co-founders.
- Two-Step Selection: Includes an initial online application with a 90-second video reviewed by mentors, followed by a one-hour in-depth remote interview.
Track Record and Performance
- Over 300 companies invested in to date, with a combined portfolio value exceeding $4.5 billion.
- 50% of participating companies successfully raise capital immediately following the accelerator.
- $1.8 million median round size for companies that raised equity rounds post-accelerator within the last two years.
This accelerator serves as a high-intensity platform for founders looking to challenge their capabilities and scale their ventures with the backing of a robust professional network. By focusing on customer validation and strategic fundraising, the program provides the tools necessary for startups to transition from early-stage concepts to venture-backed enterprises.