Optus Innov8 Seed Program Announces their Winter 2012 shortlist

optusinnov8seed.com.au

2 pointsshimms2 comments

In my very quick review of these companies, it seems most have already been or are currently part of an incubator program Pollenizer[Flikgift,WooBoard], StartMate[ YoungRepublic], AngelCube - Lexim.

I don't know if this is a good sign for the Australian ecosystem or not. It would seem the goal of most incubators is to have companies funded after the program ends, not to enter another seed stage program.

I'm one of the founders of Lexim - an AngelCube company. The Optus Innov8 Seed program isn't another accelerator/incubator in the same sense as AngelCube/StartMate etc, but rather a pre-series-A fund, filling the void in Australia of post seed/pre-VC funding.

I can't speak for the other shortlisted companies, but AngelCube put us exactly where you suggested an accelerator-graduate company should be. We've raised a seed round post the AngelCube program, and picked up traction. The Innov8 fund is a great way to get a pre-series-A size investment, access to great resources and specified, targeted mentoring.

Unlike an accelerator/incubator it is not a structured program, nor do they prefer co-location of the teams.

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