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Startmate has invested in 230+ companies that are worth $3.5 billion combined.
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What is the
Startmate Accelerator?
Put simply, we help you grow your early stage company much, much faster. You’ll spend 12 weeks laser-focused on your customer, building the best product and setting the foundations you need for exponential growth.
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Founders/peers who will become some of the most important people in your founding journey.
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Mentors who can unlock you, connect you, define your focus and keep you on track.
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Clear and simple - $120k, no hooks or surprises - and a bulletproof path to raising.
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Access to thousands of pre-vetted, talented operators hungry to join a high-growth startup
50%
Companies raise capital post-accelerator program.
$1.8m AUD
The median round size of companies that raised equity rounds post-accelerator in the past 2 years.
9.2/10 program rating
from 250+ alumni reviews.
“The biggest lesson was being really focused on specific metrics and being obsessed with customers.”
“The impact of Startmate was that we wouldn’t have achieved any of this without going through the Accelerator. The Accelerator stretched expectations of what was possible of ourselves as founders and our business in a short period of time. It helped us grow momentum by practising good habits as founders and put us in front of mentors who had the belief and means to help us scale our business.”
“Our Startmate mentor squad absolutely accelerated us. It gave us the right backing to get us through the 12 weeks and beyond that.”
“When we applied to Startmate we didn't have much more than an idea, if you're in a similar position, go for it anyways. You can get into Startmate regardless of where you are in your journey. I think what really helped us was being very clear about our ambition and where we wanted to take our technology and showing it was possible on a very small scale.”
“We had (and still have) lots to learn. Startmate creates an environment where you’re challenged and can take growth to the next level. Specifically, as first-time founders, Jake and I knew we had tonnes to learn, and were looking for mentors in product, investor relations and strategy.”
“We were fortunate enough to be accepted into the new Smartmate accelerator program and went through a pretty intense 12 weeks which was, honestly, life changing.”
“Applying to Startmate was one of our best decisions to introduce Tutero into the Australian startup community.”
“When we went through Startmate we had only a pilot factory that we didn’t know how to run. Now we’re a team of 30 manufacturing 100,000 rolls of compostable stretch wrap every day. Startmate was incredible for us. It really helped build out our network and be surrounded by founders going through the same challenges, and we still use that network today. We wish we could go through it again.”
“I remember thinking most of the mentors were nuts. They were pushing us to take a product to market before we had even designed it. I didn’t understand how you could do that. They pushed us so hard to get out there and sell to customers. That was the best advice that I was ever given: sell before you’re ready to sell.”
“We’ve done Startmate twice now. Startmate helps you turn you into someone who can run a company. Having some forcing us to talk to 100 customers per week… you won't have that pressure anywhere else”
“The Accelerator is a really competitive program and a lot is asked from you during this program, but knowing that will allow you make the most out of the opportunity, whether that means investment, mentors, or connections.”
“I can remember just being absolutely disbelieving that we actually got in, I was running around the house screaming ‘this is going to change our lives forever!...And it has.”
How do we give you an
unfair advantage?
Our belief in you changes what you (and others) think you’re capable of.
We hear it time and time again: having someone who sees something in you that no one else does is a powerful ambition raiser. We’ll push you, but we’ll also be your biggest champions forever - we’ll continue to invest in you every time you raise through our auto-deploy Continuity fund. Having the Startmate brand behind you will be a stamp of approval to every potential investor or employee you meet.
Relentless focus on what is most important
The Accelerator is defined by customer obsession. You’ll spend 12 weeks having some of the most pivotal conversations of your startup’s life. You’ll be laser focused on listening, learning and building a product that your customers really, really want.
Founders need other founders
Being a founder can be incredibly lonely. The most powerful thing that will happen to you at Startmate is that you’ll work alongside some of the most ambitious founders of this generation who are facing the same challenges you are. These founders will become some of the most important people in your journey.
We invest in your potential
You’re never too early. You can be pre-product, pre-customers, pre-revenue - we’re here for it. We’re industry agnostic, we don’t care about your CV, and we have one of the most gender-diverse portfolios in ANZ (40% women co-founded companies across the last 6 cohorts).
World-class mentors in your corner
Our mentors invest their own money in the fund that directly invests in you, meaning they will run through brick walls to see you succeed. You’ll have a squad of mentors who are deeply connected with the problem you’re solving.
You’ll stand on the shoulders of the best startup community in ANZ
We’ve curated a community of 3,500+ of ANZ’s best founders, operators and investors. You’ll plug in to the very centre of this universe. Your unfair advantage is that you’ll get the first pick of the best fresh talent through our fellowships and a warm intro to any VC, angel investor, or mentor you need.
World-class mentors in your corner.
Unlike most other accelerators, the $120k we invest in your startup comes directly from our mentor community. This means every mentor has skin in the game and is personally invested in seeing you succeed.
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Are you a wildly ambitious founder and pre Series A fundraise?
The Accelerator is for you.
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We're industry agnostic.
We've invested in companies spanning an insanely diverse range of industries. From ed-tech, health-tech, prop-tech and climate-tech to space-tech, fin-tech and legal-tech.
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You're never too early.
67% of Accelerator companies had no revenue when they applied and every cohort has had at least one company that is idea-stage and pre-MVP.
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We strive for equal representation.
Diversity builds smarter solutions. Since 2021, 40% of our companies have 1 or more women co-founders.
Apply for the upcoming
Startmate Accelerator
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Frequently asked questions
What are the Startmate investment terms?
At Startmate we like to keep it simple without hooks or surprises.
Startmate invests AUD $120,000 with the following investment terms:
- Founders who have not previously raised: at a AUD $1.5m post-money valuation.
- Founders who have previously raised capital: we match the terms and valuation from their previous round.
- Note: You must have already raised AUD $250,000 or more. During the selection process you'll need to provide signed documents.
You get to choose whether we invest via a SAFE, or in your priced equity round.
How do we match valuations?
Startmate is able to match the valuation of your last raise.
There are a couple of conditions that need to be met for Startmate to match the valuation of your last raise:
- You need to have raised at least AUD $250,000 from VC or angel investors (i.e. not friends or family).
- The investment needs to be completely finalised (i.e. executed documents) prior to you being invited for interviews..
Note: We will ask for executed investment documents (i.e. a SAFE / Subscription Agreement / Term Sheet) as part of the selection process to confirm the above.
You are never too early
Our goal is to find and fund the most ambitious early-stage founders in ANZ. This means we invest in pre-product founders. Generally, our early-stage founders usually meet at least one of the following criteria:
- Have a problem they want to solve & are ready to go full-time
- Started building an MVP or proof of concept
- Have built an MVP or proof of concept
- Have paying customers
- Are pre-Series A
Think you may be too early? You are probably not! Apply to our Accelerator and also apply to our pre-accelerator called Launch Club.
How do we select which companies make it into the program?
Startmate Accelerator selection is a 3 step process over the course of 3 weeks at the end of which we make an offer to join the cohort.
Stage 1 - online application + 90sec video (~1h)
Each application is reviewed by at least 3 mentors independently. Mentors are all personally invested in the fund and are looking for the founders who stand out the most - connection to the problem, size of ambition, customer conversations etc.
Stage 2 - round robin interviews (2.5h) - remote
At this stage you get to meet 10 mentors in 10mins back to back conversations. This is a high energy fast speed interview round that allows you to really hone the story of your company.
Stage 3 - in depth interview (1h) - remote
Finally, you’ve got an hour in-depth interview with 3-4 of our mentors including a Startmate team member. Here we’re going deep into your product, vision and any open questions from the previous rounds.
Where can I see a copy of the application questions?
You can read about the application questions and top tips for your application here!
What is the time commitment?
On average, the time commitment for sessions is 2-4 hours per week. Each week you will have a one hour mandatory “All Hands” session with your cohort. The rest of the sessions are completely optional. You can pick and choose which sessions will be most valuable to you.
Important: In Week 0, there are 3 days in-person and in Week 12, 2-3 days to prepare for Demo Day.
Is the program online or in person?
Most of the program is virtual, with the exception of Week 0 which is in-person and held in either Melbourne or Sydney, and Demo Day, also in-person in Melbourne or Sydney.
This means you can participate from anywhere in the world. However, it’s worth noting that we have designed the program to be especially time-zone friendly to Australia and New Zealand.
What if I’ve raised capital already?
You’re still a great fit for the program! We’ve invested in startups with angel, pre-seed, and seed funding. The program’s laser focus on customer feedback and market validation is incredibly relevant to companies that are looking to scale. Additionally, handpicked mentors in your corner helping you address challenges as they arise continues to be invaluable for more established teams.
Do I need to be full-time on my startup?
To be selected for the Startmate accelerator, at least one of your co-founders need to be working on the startup full time. We only commit if you're committed. That's why we invest $120,000: so you can focus 100% on solving the problem and moving the metrics that matter, week on week.
When does the program run?
The Accelerator currently runs twice per year: Summer (January-April) and Winter (July-October).
Essential Reading
Startmate Accelerator Investment Terms 101
Meet Luniate: The Startup Turning Financial Content Into a Competitive Edge
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Have a question? Send us an email hello@startmate.com.au