Oracle launched the local arm of its venture capital network this month, a global online community that will link early-stage IT start-ups with venture capital and specialist services organisations.
Australian members of the Oracle Venture Network include organisations from the HR, VC, legal, IT and finance fields such as Mills Harding, the Venture Capital Association Limited, Technology Venture Partners, Fulcrum Hosting, Griffith Hack Attorneys and Hartley Poynton.
The network offers entrepreneurs access to an online source of information and resources for up and coming technology companies, and a virtual community and framework to develop ideas, Oracle told press last week.
"After facing the turbulence of today's financial market, emerging entrepreneurs are in need of direction and are eager to achieve success," said Oracle Australia managingdirector Brian Mitchell. "By introducing Oracle VentureNetwork, we're making it much easier for emerging entrepreneurs to educate themselves and choose the technologies and resources they need to succeed, from legal help to publicity to simply gaining feedback on a business plan."
Oracle VentureNetwork will fund and develop new local enterprises and aim to create long-term national wealth here, executive director of the Australian Venture Capital Association Andrew Green said.
Specifically, the network offers start-ups private access to investor firms. Entrepeneurs can build their business plan online using the free tools offered on the site, then submit their plan to an investor community for review with a view to receiving start-up funding, Oracle officials said.
Asia Pacific members of the network include iAsia Alliance Capital, PricewaterhouseCoopers, Blue Sphere Interactive and TMP worldwide eResourcing.