General

Team

Location

Application & Selection Process

Logistics

Legal

Benefits of the Program

Funding & Equity

Other

General

What is elevate61?

elevate61 is a unique program designed to enable high performing Australian businesses to fast track their growth into the United States of America (US) and beyond. The program provides participants with facilitated access to an established network of successful Australian and US-based entrepreneurs, investors, mentors and global corporations.

Back to General

What types of businesses is elevate61 looking for?

elevate61 has been designed for post-seed funded, technology enabled, enterprise start-ups who are currently experiencing or preparing for rapid growth in Australia and are ready to expand to the US.

As a guide, the type of businesses elevate61 is looking for ideally meet the following guidelines:

  • are an Australian registered business (with an A.B.N.)
  • have already launched a product and/or service in the market
  • have customers
  • are predominately business to business focussed
  • have turnover in the last 12 months of approximately $AUD500,000 or more
  • have received seed funding
  • have a team of at least two people
  • are willing to participate in the program and capable of committing to the workshops and trip to the United States
  • have the means to cover the investment per participant of $5000 (minimum of two participants). This does not include airfares to/from and accommodation in the United States.

Back to General

What industries are we looking for?

elevate61 is looking for businesses that are predominately business to business focussed across a wide range of industries. As a guide, this could include (but not limited to) one or more of the following industries:

  • technology
  • media
  • telecommunications
  • health and healthcare
  • infrastructure
  • financial services
  • energy and natural resources
  • agriculture
  • advance manufacturing.

Back to General

We have already taken some funding, can we still apply?

Yes. Post-seed funded companies are the preferred applicants for elevate61.

Back to General

Why is elevate61 only looking for post-seed funded companies with a turnover of approximately AUD500,000 or more?

elevate61 is specifically targeting companies that are ‘further along’, have launched a product or service in the market, have customers and have generated revenue in the last 12 months. This is because the program is designed specifically to help high performing Australian businesses to fast track their growth into the US and beyond. To do this, this would generally require a proven market product and a base level of customers.

Back to General

How does elevate61 differ from other accelerator programs?

elevate61 is not a traditional accelerator program. In particular, it does not provide investment in return for equity in your business. elevate61 was intentionally designed to be complementary with the many successful Australian and global accelerator programs currently operating; targeting early stage start-ups. elevate61 has been designed by Advance and KPMG Australia based on the Advance Innovation Program following the success of the Advance programs in 2012 and 2013.

Back to General

Team

Can I apply on my own?

No. A minimum of two team members must participate in the program.

Back to Team

Is there a maximum number of team members?

No. We suggest the team to be two or more people and that each participant attend all events (including the US trip).

Back to Team

Can I apply if our business founders or team members are not from Australia?

Yes. You and your team members may apply if you are not Australian residents. However, you may need to obtain certain visas or approvals from the relevant authority. Also your business needs to be registered in Australia and/or have an Australian Business Number.

Back to Team

Can you help with visa/immigration issues?

No. You and your team will need to organise in advance any necessary visas to participate in elevate61.

Back to Team

Location

Do we have to co-locate with other program participants in a specific location for the duration of the program?

No. You and your team are not required to co-locate for the period of the program. You will be required to travel to attend program events including launch events, workshops and the US trip.

The program workshops will be hosted on site in Sydney. Your team will be required to attend these workshops in person.

The US trip will require you to travel to the US for the selected time period.

Back to Location

Do we have to be in a particular location after the program ends?

No. Once the formal elements of the program are finished you may locate your business as you choose.

Back to Location

Application & Selection Process

How do I apply?

Applications for the 2016 program have now closed.

If you wish to apply next year you’ll need to provide information about yourself, your team, your business and the vision for your product or service for growth. Likewise you’ll need to answer questions about your business plan and your path to growth. You’ll also need to provide a short video of you and your team.

Back to Application & Selection Process

Do I need to send a business plan?

No. We do however ask that you complete the application form, complete formal interviews (if required) and provide the other requested information as requested (e.g. video).

We do not need to see your business plan, financial statements or marketing/product materials. We will provide you with a formal request for information if we require anything further from you or your team above and beyond the application process.

Back to Application & Selection Process

Is my business ‘too far along’ or ‘too early’ to apply?

elevate61 is looking for businesses that are post seed funded and ideally with a turnover of approximately AUD500,000 or more in the last 12 months. You should use this as a guide to determine whether the program will be suitable to your needs and whether you can meet the program outlined in the FAQs. However, if you don't meet this guideline you may still apply by completing the application form available here.

Back to Application & Selection Process

How do you choose which applicants to accept into the program?

All applications will be assessed against the elevate61 program criteria by a selection panel made up of industry specialists, entrepreneurs, Advance and KPMG Australia representatives. Applications will be considered even if they do not meet all the program guidelines.

If you are successful in progressing to the second round, you’ll then be asked to attend an interview (in person or online) with the elevate61 interview panel. In this interview, we’ll want to know more about you and your team, your vision for global growth (particularly the US) and why you want to participate in elevate61.

Back to Application & Selection Process

When will the final businesses be announced?

February 2016.

Back to Application & Selection Process

How many businesses will be selected?

elevate61 does not have a specific number of participants per program. Successful participants will be chosen to participate on merit against the selection criteria. On this basis, the number of program participants may change. However, as a guide we looked to accept 10 businesses in the 2016 program.

Back to Application & Selection Process

What is the deadline to apply for elevate61?

Applications for the 2016 program were open 26 October 2015 - 14 December 2015.

Back to Application & Selection Process

Is my age a factor in the selection process?

No. The age of you or your team is not relevant to the application process. Both younger and older founders/business owners and team members are welcome to apply, as long as the business and the team meet some or all of the other guidelines of elevate61.

Back to Application & Selection Process

Will contacting mentors or other KPMG Australia or Advance people help my application?

No. Mentors, KPMG Australia and Advance people outside of the selection committee are not involved in the application and selection process. Please do not try to get in contact with them as this will not help advance your application.

If you have any queries with respect to elevate61, please contact the elevate61 team here.

Back to Application & Selection Process

Can I still submit an application if I do not meet all the minimum criteria?

Yes. If you do not satisfy all of the program guidelines (outlined here), we recommend you review all of the FAQ’s for more information about the program requirements. Following this, if you still think you would be a suitable participant for elevate61, we recommend you complete the online application and we will consider your application as part of the program selection process.

Back to Application & Selection Process

Logistics

When and where are the launch events?

Please visit the Launch Events page for details.

Back to Logistics

What is the program timeframe?

Please visit the 2016 Program page for a complete outline of program timeframes.

Back to Logistics

Do I have to attend all formal elements of the program?

Yes. If you are successful in being selected for the program, you are required to attend all formal elements of the program including:

  • Program workshops
  • US trip

Attendance at launch events and the roadshow are not essential but recommended given the network opportunities that may be available.

Back to Logistics

What does it cost to participate in the program?

The program cost is AUD$10,000 per team of two, AUD$3950 for each additional team member. This does not include airfares to/from or accommodation in the United States.

Back to Logistics

Why do I need to pay a participation fee?

The program participation fee is paid to Advance (a not for profit) to cover the operating costs of the program and is charged given elevate61 does not take equity in your business.

Back to Logistics

Does the program provide flights, meals or accommodation?

No. In addition to the program participation fee you will be required to cover you and your team’s costs of flights, meals and accommodation to attend the Australian workshops, the US trip and other formal events unless notified otherwise.

Back to Logistics

Are there any grants available to cover certain costs of the program?

Certain costs of participation in elevate61 (e.g. travel and accommodation expenditure) may be eligible to receive grant funding under the Australia Federal Government Export Market Development Grant (EMDG) program. The program has specific eligibility requirements and terms and conditions.

If you are successful in participating in elevate61, KPMG Australia’s Research & Development grants team may be able to assist you with determining your eligibility for the EMDG (fees may apply).

For more information on the EMDG please see the following link: http://www.austrade.gov.au/Export/Export-Grants/What-is-EMDG

Back to Logistics

Do I have to attend the launch events to be eligible to apply?

No. You are not required to attend the launch events to be eligible to apply for elevate61. However, the launch events are an invaluable opportunity to learn more about the elevate61 program, meet like-minded companies and to network with Australian entrepreneurs and representatives from corporate Australia.

Back to Logistics

Legal

Will elevate61/Advance/KPMG Australia sign a Non-Disclosure Agreement?

No. As you would appreciate, we will see hundreds of applications, and some may include similar ideas. For this and other practical reasons, we are unable to sign a NDA.

Back to Legal

Does elevate61 retain or obtain any rights to my intellectual property developed during the program?

No. elevate61does not retain or obtain any rights to participants’ intellectual property developed through the program. The intellectual property developed by a participating business is retained by the business.

Back to Legal

Benefits of the Program

What are the benefits of elevate61?

elevate61 provides participants with facilitated access to an established network of successful Australian and US-based entrepreneurs, investors, mentors and global corporations. The program includes:

  • three days of intensive workshops
  • one-on-one sessions with subject matter experts from KPMG Australia and US-based Advance mentors
  • speed dating sessions with selected corporations
  • 10 days in the US
  • national investor roadshow in Australia

elevate61 participants will have an opportunity to increase their understanding of the US market, refine their value proposition, identify their target market and further develop their ability to effectively reach and sell to potential clients, partners and investors. For further information refer to the Benefits and 2016 Program Schedule pages.

Back to Benefits of the Program

Funding & Equity

Does elevate61 take equity in my business?

No. Neither elevate61, KPMG Australia nor Advance will take equity (stock) in your business by participating in the elevate61 program.

Back to Funding & Equity

How much funding do successful applicants receive from elevate61? Am I guaranteed to receive funding?

elevate61 does not provide any funding to your business. There is no guarantee that your business will receive funding. elevate61 is however designed to help best position your business for growth through education and training, networking, the US trip and the investor roadshow.

Back to Funding & Equity

What if my business doesn’t ultimately succeed after the program?

There is no guarantee that participation in elevate61 will help your business succeed. If you are successful in participating in the program it will provide you with an opportunity to learn, meet and network with a large number of entrepreneurs and investors across Australia and the US and develop skills for your next venture or whatever you do next.

Back to Funding & Equity

Other

What is the elevate61 alliance? What is the purpose of elevate61?

Advance and KPMG Australia have formed a strategic alliance to help fast track Australian entrepreneurs and enable growth and productivity for globally competitive industries.

Our vision for elevate61 is to help shape and empower Australia’s entrepreneurial eco-system, leading to high value job creation and corporate and social growth for Australia.

Australia’s entrepreneurs will be given a rare opportunity to fast track their business growth and take on the world, thanks to this new alliance between a global non-profit and partnership.

For the first time the complementary international business and advisory networks, technical expertise and global experience of the two organisations will be integrated and made accessible to the ‘best of the best’ Australian entrepreneurs, through elevate61.

Back to Other

Who is Advance?

Advance is the preeminent global community of high achieving Australians and alumni abroad, with a growing membership of over 25,000 in 90 countries. Advance forges connections with the one million Australian diaspora, drawing on their experience and networks to open doors and opportunities for Australia, Australian companies and Australians around the globe.

Advance and in particular elevate61 is an initiative supported by the Federal Government and complements the Federal Government’s Entrepreneurs’ Infrastructure Programme (EIP). To find out more about Advance please refer to their website.

Back to Other

Who is KPMG Australia?

KPMG is a global network of professional firms providing Audit, Tax and Advisory services. They operate in 155 countries and have more than 162,000 people working in member firms around the world.

KPMG Australia works with start-ups and entrepreneurs to help them achieve their growth objectives, and to share their knowledge of their sector with the Australia’s largest corporations to enable to them to innovate and respond to market trends.

To find out more about KPMG Australia please refer to their website.

Back to Other

Will you run any more programs if I miss the 2016 program?

Yes. elevate61 is planned to be run again in 2017.

Back to Other

Who can I contact if I have further questions?

We recommend you first read the FAQ's online. Should you have any more questions, please contact the elevate61 team here.

Back to Other