10 companies from the mobile, Internet and web 2.0 industries will soon participate in the third-round of our Innovyz START program supporting small businesses.
The program is aimed at fostering innovation and helping individuals to start-up and grow their businesses. The program offers participants the opportunity to work with a number of successful Australian and international mentors.
The current round of the program will work with six start-ups with potentially break through ideas, while also working with a further five companies to better support them beyond the start-up phase and accelerate their growth.
Over a 13 week period, participating companies refine their product, operating model and distribution strategy ending in a “pitch” to investors. Each company receives a “living allowance” of up to $20,000 and is eligible to apply for a $20,000 finance facility from ANZ.
The 20 companies from the previous two Innovyz programs have embarked on a rapid growth path, raising more than $1.6 million in seed funding.