ANZ Bank and Innovyz announced they will expand their accelerator program to include companies that have graduated from the startup phase.
ANZ Innovyz will run two parallel programs: the existing START program for companies at the idea stage and a new BRIDGE program for growing companies that already have a business model and go-to-market strategy. Companies in the BRIDGE program will also act as mentors to startups in the START program.
ANZ Innovyz announced 10 companies to participate in a 13-week program in Adelaide starting this week, with six in START and four in BRIDGE. The BRIDGE companies previously participated in START and received investment or secured a substantial contract.
Besides ANZ Bank, the program receives support from the Adelaide City Council and the Government of South Australia.
“We know this accelerator program works. It’s already helped 20 companies embark on a rapid path to growth, raising more than $1.6 million in seed funding, with the potential of another $500,000 investment in the second half of the year,” Jana Matthews, managing director of ANZ Innovyz START, said in a statement.
Earlier this year, ANZ pledged to lend $1 billion to new small businesses, including support for the ANZ Innovyz startup program.
“When you're a start-up business, success requires more than a great idea; it's about having the right support, mentoring and access to capital to get off the ground,” said Nick Reade, ANZ general manager for small business.
“The BRIDGE program recognises that small businesses can benefit from a leg-up at different stages of the business life cycle and we’re pleased to provide these additional opportunities.”
The six startups participating in ANZ Innovyz START are:
- Aegle Life, a personalised Web- and mobile-based wellness platform from Perth.
- Big Big Book, a booking and client management system from Adelaide.
- Broken Arms Games, a mobile and online game developer from Italy.
- GoCatalyze, a social media and CRM campaign management tool from Brisbane.
- Happy Traveller, an Adelaide-based developer of mobile tools for overseas drivers.
- Skwible, a visual collaboration platform from Ukraine.
The four companies in the BRIDGE program are:
- Captioning Studio Group, an Adelaide company provided captioning and audio description to people with disabilities
- Australian Baby Bargains, an online community and trading platform for mums, based in Adelaide.
- Memtell, a online storytelling platform from Melbourne, targeted to aged and health care providers.
- Singa, a startup from Adelaide that connects people through real-time singing
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