Over the last three years Advance and KPMG Australia have helped over 25 Australian startups fast track their success in the US market through elevate61 , a strategic alliance to give Australian startups the skills, access and networks to succeed in the world’s biggest tech market.Join us as we celebrate and hear from our 2017 elevate61 cohort as they reflect on the US tour highlights, share their incredible tales, and how they're overcoming the challenges of international expansion.
It has been a big few of months for 2017 elevate61 program participants CancerAid!
CancerAid is a first-of-its-kind tool that helps anyone diagnosed with cancer navigate through each stage of their cancer journey, receive care remotely and reduce the isolation of illness.
On World Cancer Day they appeared on the Today Show to talk about their app and the emotional impact of managing cancer...
While the elevate61 daily wrap ups aim to provide a snapshot of what the participants experienced throughout the 10-day program, nothing could quite compare to witnessing the incredibly talented and experienced speakers that took part in the seminars.
Over the course of the last two weeks we have met dozens of founders looking to build the next big thing. In structured sessions, networking and informal chats we have had the opportunity to listen, learn and test our ideas for market entry into the States. We have heard multiple stories of success and failure. Distilling this to identify the common threads is not easy as there are no universal capital “T” truths for success in the US and every founder’s story is different. But there are lower case “t” truths relevant to setting yourself up for success in the States.
The world is coming to my party …
In LA, the pitch to entrepreneurs is based on the size of the market and the opportunities it presents. In San Francisco, the pitch is on being the capital for tech and where entrepreneurs are changing the world. In New York, the pitch is based on being the world’s capital for hyphen tech. Fin-tech, fashion-tech, food-tech, real-tech, etc. It was no other than David Rose, founder of Gust and the New York City Angel Investor, who gave it to us. Described by some as the patriarch of Silicon Alley, David has been in the New York tech scene from the start. He’s a founder, an investor, and has authored two New York Times bestsellers on Angel Investing and Entrepreneurship.
Networking and relationships are key to business success, even more so for enterprise sales-based business models. In Australia, networking tends to be casual and informal. In the US, networking is more focussed. You need to plan ahead, know who you want to meet, what your ask will be, and what you can give in return. You need to be able to explain your business in 30 seconds because networking in the States is business oriented. People will want to know who you are, what you are doing and what you need. They will also most certainly ask “how can I help you?” – be ready to answer it.
Change the world or go home!
San Francisco. Silicon Valley. The Valley. It’s Disneyland for entrepreneurs and investors alike. This is the crucible for entrepreneurship and innovation, and today we provided the teams with an opportunity to pitch their businesses to John Scull MD Southern Cross Ventures. A 30-year veteran of The Valley who has worked as a marketing executive with Apple, started his own businesses and now working in Venture Capital: a career that makes John very well placed to provide feedback.
So far we’ve spent two and a half days in LA based in Santa Monica on the very edge of Silicon Beach. And the first thought most people have when you say "LA" is Hollywood, the second, Hollywood and the third … you guessed it: Hollywood. But there is more to tinsel-town.
It’s in the metrics baby: five basic numbers every enterprise software company needs to nail
When it comes to winning in the software-as-a-service (SaaS) world, as a rule tech startups require significant capital investment.
In order to attract and pass the litmus test for venture capital investors, startups need to speak the right language, and be able to demonstrate that their business can capture the market.
Building a business is hard work. It takes guts, determination and resilience. It means holding onto a dream and vision often when others can’t see it. And doing so in Australia this is only just almost coming into vogue. This means our entrepreneurial ecosystems are still relatively young. Culturally we are still learning to embrace and accept innovation and entrepreneurship but it is far from being accepted as normal.
Advance, Australia’s global innovation network, and KPMG Australia today revealed the six enterprise tech startups selected to take part in the 2017 elevate61 program.
The elevate61 2017 cohort includes innovative, high-profile companies from sectors as diverse as HR (Adepto), marketing (Scrmhub), and music (Mash in Music). Hailing from Melbourne and Sydney, they represent a cross-section of the software-as-a-service talent in Australia’s startup eco-system.
Cover Genius raised a $1.1 million seed round in 2015 from London-based insurtech investors at a valuation of $US10 million. The same investors participated in a follow-up round in December 2016.
Headquartered at Sydney fintech hub Stone and Chalk, the startup currently boasts offices in the London and recently, Austin, Texas.
Click here to read the full article on the ANZIFF website.
Are you a tech startup looking to break into the US market?
If yes, then the elevate61 program is for you!
elevate61 is a two phase program designed to enable high performing Australian businesses to fast track their growth into the United States and beyond and it provides participants with facilitated access to an established network of successful Australian and US-based entrepreneurs, investors, advisors and global corporations.
Advance and KPMG launched the 2017 elevate61 program with events in Brisbane and Sydney last week. Before we even launched the 2017 program, there was a nice shout-out from none other than Australian Prime Minister The Hon Malcolm Turnbull MP at the Advance Global Australian Awards!
"Being part of the elevate61 program of 2015 really opened our eyes to the opportunity before us with the US market. I really attribute the experience we had there to being the catalyst for us to get serious about tacking the US market and raising capital."
Advance extends a huge congratulations to simPRO, an elevate61 participating company, who have just secured US$31 million in growth capital.
Australian startup Makers Empire has created what is being billed as the world’s easiest-to-use 3D printing software. The learning program has been picked up by schools across Australia, the US, Hong Kong and China that are recognising the important role the technology will play in the future.
CEO and Co-Founder Jon Soong was on the panel at the launch of the 2016 elevate61 program in Adelaide earlier this year.
It’s a been a big few weeks for #elevate61 2016 participant Sendle, who have been busy growing their business over the course of their elevate61 experience this year.
Today, they announced an AUD$5 million raise from from investors including Full Circle Venture Capital, Black Sheep Capital and rampersand.
Innovation for Australia, its people and its companies is something that Advance lives and breathes every day. There is no denying that Australia is a hotbed of startup and innovation activity - but WHY is it so important?
Wayne Gerad, a 2015 elevate61 advisor, shares his compelling insights on why innovation and startups are important to every day Australians.