Elevate61 startup program returns for 2016
- 26 October, 2015 14:12
Later stage startups that are looking to enter the US market are being invited to take part in an accelerator program being run by KPMG Australia and Advance.
According to the firms, the elevate61 accelerator is the only Australian program to focus on later-stage ventures in the enterprise space.
Applicants will have secured seed funding of at least $100,000 and annual revenues of approximately $500,000.
Successful startups will receive mentoring from KPMG and Advance followed by a 10-day visit to San Francisco, Los Angeles and New York. Participants will hear from Australian founders who have eventually found success in the US.
Nine startups took part in the 2015 program. Two are currently in the process of opening US offices while others are restricting their business for expansion into the US.
Advance global CEO, Serafina Maiorano, said that entering the US is “not as simple” as booking a plane ticket and turning up at a Silicon Valley mixer.
“Australian startups can most definitely not afford to be under-networked, under-prepared and over-there. Elevate61 exists to help Australian startups hack international expansion,” the CEO said.
Applications for the program close on 14 December.
Earlier in October, KPMG announced that eight startups who took part in its Energise program signed contracts worth over $400,000 with energy and natural resources (ENR) companies including FMCG, BHP, Laing O’Rourke, South32 and Woodside.
The startup technologies will be trialled and deployed in the coming months. Based in Perth, the program encourages innovation in the ENR sector.
The startups also received $50,000 worth of professional services from KPMG and $50,000 of web hosting credit from Amazon Web Services.