Innovyz Start announces new funding round

Participants in startup accelerator get $20,000 loan and mentoring.

The Innovyz Start accelerator program, sponsored by ANZ and Innovyz, has announced that applications are open for its next 13-week program.

The new round begins 12 August. Winning applicants will receive a $20,000 loan, coaching from global business officials and mentoring from more than 30 CEOS who have grown and exited companies, according to Innovyz Start.

The accelerator launched in February last year and has so far selected 20 companies for support. The program chose nine Australian startups in the last round announced January.

Besides ANZ Bank, the program receives support from the Adelaide City Council and the Government of South Australia.

Past program mentors included Microsoft chief experience evangelist, Chris Bernard, Silicon Valley entrepreneur Martin Babinec and DealsDirect co-founder, Paul Greenberg.

“This program is about fostering growth and innovation in small business, and accelerating the development of start-up companies who really need that initial leg-up to get going,” said ANZ general manager for small business, Nick Reade.

Optus, another large company offering support to Australian startups, this February revealed a short list of startups for possible funding under its Innov8 seed funding program.

Optus has since entered talks with Brisbane startup, Ollo Mobile and Sydney startup, Pocketbook.

ANZ Innovyz Start will accept applications until 14 June.

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