The not-for-profit global network for Australians overseas, Advance, is calling for applications for its 2013 Innovation program.
The Innovation program provides 25 Australian startup companies the opportunity to refine their business model and pitch, through workshops, mentoring, and an organised trip to the U.S.
“The U.S. leg is an immersion trip,” says Amanda Price, the LA-based coordinator of the program. “We’re not wedded to investment and we don’t take equity.”
The aim is introduce the companies to the U.S. market, and introduce them to potential mentors and investors.
Advance is funded by Commercialisation Australia and describes itself as a ‘community of global Australians’ which spans 90 different countries. The organisation has offices in New York, San Francisco, Hong Kong and London.
“We’re trying to build the success of Australian companies overseas. In terms of what it offers, it’s about building knowledge, and developing contacts.”
- The Advance Innovation program is a good introduction to the U.S., says Amanda Price.
The Innovation program is now in its second year. Previous participants include Wynbox, a company offering sales-promotion technology; Voopes, with its exchange-market for game credits; and, Atomo Diagnostics, which is commercialising single-use blood based diagnostic procedures.
“I run the workshops but it’s very much a mentor-driven program. We’ve been working closely with a number of Australian incubators.”
Mentors include people like John Scull, Managing Director at Southern Cross Ventures; Jeremy Howard, President at Kaggle; and, Tan Le, CEO of Emotiv Lifesciences.
The program costs $1,995 per participant, although flights, accomodation and travel expenses are not included. Price says the fee covers the cost of the three workshops in Australia to help companies refine their business model and pitch, eight one-hour Skype sessions with a U.S. mentor, and five full-days of workshops and meetings in Los Angeles, Silicon Valley and San Francisco.
Ten of the companies in the program will also get the opportunity to pitch to more than 250 investors at an investor forum in Silicon Valley, alongside companies from other Australian startup programs like Startmate and Springboard Enterprises.
“When you go to Silicon Valley, you’re competing against companies from Stanford and elsewhere, with existing networks. If you haven’t been over there, it’s hard to do so on your own, and that’s where Advance comes in.
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