March 2024 Monthly Update

Michael Batko
March 31, 2024
March 2024 GBU

Hey Startmate Family,

This month, I’ll start with something “boring”: Fund Operations.

(don’t get me wrong, we actually love this stuff <3)

Over the last 12 months, we’ve overhauled our entire investor experience:

It now starts through Single Form Investor Onboarding (Passthrough), continues with one stop Anti Money Laundering checks (FirstAML) and culminates on our full Fund Reporting and Tax overview platform (Fundpanel).

We didn’t stop there:

We now have a full public overview of Startmate Funds.

And our investors get a Monthly Update of the investments we’ve made (we average ~5 per month) AND upcoming rounds that they can participate in, which brings them on the journey, but also helps our alumni raise.

Why does it matter?

We’re ANZ’s largest community driven seed fund.

We raise ~$3m from 100+ investors every 6 months - our mentors, founder and fellow alumni.

We need to provide a smooth if not magical experience to make the fund accessible to our community and be able to handle this many checks every 6 months.

If you want to hear more about the funds - check out the full overview here!

What’s on?

🙏 Ask/invites

  • REFER to Startmate - HERE!
    • Do you know a Founder, Investor, Operator who has to do Startmate!
    • Refer them to Startmate, and we’ll give them all the info, help + loop back with you if/when they get into Startmate!
  • Ladymates Leadership - apply by tonight HERE
    • What? Highly vetted, 3 month membership for women in startup leadership roles. Fortnightly exec coaching, peer advisory, and workshops, running from May 6 - Aug 2. Full info: here
    • Apply by TONIGHT, April 1: here
  • S24 Investor Only Demo Day
    • 30 minute virtual call for investors to get across the progress of the latest Accelerator cohort and consider the companies for investment - RSVP
  • W24 Accelerator applications are open!
    • 12 weeks laser-focused on your customer and building the best product.
    • Applications by 26th May - here
  • W24 Student Fellowship applications are open!
    • Are you a student keen on exploring startups as a career? In 2 weeks you'll gain all the knowledge, practice and connections to get started.
    • Applications by 27th May - here

🚀 GREAT alumni news

  • JigSpace (MEL18) has been named one of Fast Company's Most Innovative Companies of 2024 - Read more 
  • Climate Tech Pitch = Startmate Alumni gathering - The Climate Tech Pitch Session for KPMG High Growth Ventures was 50% women, 50% First Nations AND 100% Startmate accelerator alumni - Read more
  • Heaps Normal (MEL20) has partnered with Who Gives A Crap to launch a new non-alcoholic Cheeky IPA - Read more 

😀 Good

  • Ladymates Launch - long time in the making, we went public with Ladymates in Forbes, our whole suite of offerings for women across all stages of their career.
  • IWD was unreal - we hosted a sold-out International Women’s Day event for 300 women across Sydney and Melbourne and it was an epic success. It was such a fun night as we ran an event our way packed with a great panel, a workshop and speed friending all in one evening!
  • Launch Club - kicked off strong with 130+ founders and many of them joining us for our weekly Wednesday co-working!
  • Welcome Kate!! Kate has joined as our Investment Associate, and will be leading First Believers. Make sure to give Kate a big warm Startmate welcome HERE. A little bit about Kate:
    • Kate founded dog e-commerce startup, Waggly, and built it into a 7-figure business over 7 years before being acquired by Mad Paws (ASX: MPA) in 2021.
    • This is Kate’s first job back from mat leave! Kate has 2 little munchkins, Leo (4) and Louis (18 months)
    • Now, on the journey to become an angel investor herself and play a big role in contributing to our startup ecosystem, running First Believers has come at the perfect time.
  • Women Fellowship Selection Nights are back - we brought back speed interviews for the Women Fellowship this cohort - such a great way to give coaches the opportunity to meet Fellows even before the program. 180 interviews with 30+ SM community members later… we have our final cohort!!

🥴 Bad

  •  Farewell Ryan - we’re equally sad and excited for Ryan, our Head of Product, to be leaving Startmate after 3 years and to take off on a once in a lifetime trip around the world! The legend will still be around till Demo Day, so you’ll hopefully see him there!

😵‍💫 Ugly

  • Climate Tech Fellowship Applications: Australia has a bit of a love / hate relationship with climate, one moment it is what everyone wants to do, next moment we’re all looking another way. That is reflected in a lower number of applications for our 3rd Climate Cohort, but fortunately a super high quality of applicants for the ones who are committed. Smaller but very committed cohort this time around.

👏 Kudos - introducing a new section to say Thank You to the community!

  • Kudos to Tash Jamieson (Founder Fellow, Accelerator Alumni & WF coach/speaker) for running an AMAZING and candid WF community session on her journey through startups
  • Kudos to Richard (surname yet unknown) who was the first person to jump on and refer 3 mates to Startmate within hours of the form going live on a weekend!

Hope you enjoyed the read, fam!

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