Amcom Telecommunications has teamed up with e-business association eGroup WA and technology hub Spacecubed to launch a tech accelerator program in Perth to help startups turn their ideas into products.
Amcom Telecommunications has teamed up with e-business association eGroup WA and technology hub Spacecubed to launch a tech accelerator program in Perth to help startups turn their ideas into products.
“In a period of limited access to venture capital, Amcom Upstart will identify up to eight startups and provide $40,000 in seed capital and extensive professional mentoring for each of them, during a three month program,” Amcom said in a statement.
The initiative is designed to help startups get a minimum viable product to market, develop a business model and attract their first customers.
The startups will have access to experienced mentors, including Business News chief executive Charlie Gunningham.
They will also have dedicated access to facilities at Spacecubed.
Amcom chairman Anthony Grist said the tech accelerator was about supporting and growing the local startup ecosystem and encouraging more local entrepreneurs to take the plunge and bring their ideas to life.
eGroup WA program director Robert Nathan said while there had been increased investment activity in late stage technology companies via the ASX in the past 12 months, there had been very little investment activity in the startup sector in Western Australia.
“Together with Amcom, we are able to bring a world-class startup accelerator program to Perth in conjunction with much needed seed capital,” Mr Nathan said.
The program has received financial backing from Amcom, Mr Grist, local venture capitalists Matt Macfarlane, Rob Newman, tech funders Forrest Capital, and a number of investors.
The three-month program will begin in June.
Last week, accounting firm KPMG announced it was launching a business accelerator, designed to assist early-stage technology ventures and bring them together with major companies in the energy and resources sector.
The RAC, in collaboration with Spacecubed, launched its SeedSpark program last year, offering cash, access to mentors from the two companies, and access to Spacecubed facilities.
Unearthed, a mining-focused accelerator program run by Resource Innovation through Information Technology, held its intensive 54-hour 'hackathon' event last year.
This year, an incubator is being launched in Perth in an effort to further progress the progress of developments that may come out of the Unearthed events.
The first startup confirmed as an accelerator participant is Newtown Labs, which received the top prize in the inaugural Unearthed in May last year.
Newtown Labs is developing a monitoring system for oversized boulders in mine sites.
The program will run for six months, with participants to receive $70,000 in seed investment to market the products to the resources sector.
