Startmate 2017 Q&A

Startmate is a mentor-driven seed fund based in Sydney, Australia.More info: http://www.startmate.com.au

Startmate

<A HREF="http://www.startmate.com.au/" TARGET="_blank" DATA-MSYS-CLICKTRACK="0" REL="nofollow noopener noreferrer">Applications for Startmate 2017 close on September 30</A>.
Come along to our Q&A night at Fishburners in Sydney on Wednesday, 17th August at 6pm and speak with Startmate co-founder Niki Scevak as well as prior Startmate alumni Chris Hexton of Vero (SM12) and Rory San Miguel of Propeller (SM15). Get a better understanding of the program, discuss your application and find out what is good and bad about Startmate.
Unlike other accelerators, Startmate’s 30 mentors invest their own money into the startups: $75,000 for 7.5% (or if you've raised more than $200k, then at your last round price). And even then, the cash injection is a mechanism to value their time which they volunteer to the startups through the program.
<A HREF="http://www.startmate.com.au/" TARGET="_blank" DATA-MSYS-CLICKTRACK="0" REL="nofollow noopener noreferrer">Find out more about Startmate</A>.
The teams then work for free out of the same office in Sydney for three months during January, February and March. And then the months of April and May are then spent in Silicon Valley raising seed capital and meeting other founders to help you calibrate what it takes to be the best in the world.
Naval Ravikant, co-founder of AngelList, ranked Startmate alongside ycombinator and Techstars as one of the top five accelerators in the world. This was followed by the Economist again listing Startmate as one of the top accelerators in the world based on follow-on funding for alumni.
Of the 45 companies who have been a part of the program up until the 2016 intake, one third have raised an average of US$1m in seed capital at an average valuation of US$4m. Some of these companies have gone on to raise Series A finance at many multiples of that including:
- BugCrowd who raised US$15m in April 2016 - Happy Inspector who raised US$2.8m in February 2015 - ScriptRock who raised US$8.7m in August 2014 - Flirtey raised millons of dollars in 2016 - Grabble, from the first intake, was our first exit being acquired by Walmart in 2011.

Startmate 2017 Q&A

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Startmate 2017 Q&A

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