An Incubator From Down Under: Meet StartMate’s First Batch of Aussie Startups
March 28, 2011 at 12:45 PM EDT
Last year, a group of Australian startup veterans and executives created Startmate , a seed fund and incubator designed to provide small, early-stage investment and hands-on mentoring to local startups. Bringing the Y Combinator model to Australia, Startmate chooses 5 startups to participate in its 3-month incubator program. It then seeds those 5 companies with $25,000 and offers them access to its impressive list of mentors , which includes Mike Cannon-Brookes and Scott Farquhar, the founders of the software company Atlassian that last year raised $60 million in funding from Accel Partners . Startmate's 3-month program includes two demo days, one in Sydney and one in Silicon Valley, and culminates in a two-week trip to Silicon Valley, in which the startups are introduced to American investors.