Technology startups seeking funding, global connections and expert advice are invited to apply to Flux Accelerator, a new pathway for founders looking to rapidly scale their startup. Run by The Icehouse, the six-month accelerator, will kick off in 2017 with the support of Callaghan Innovation. It will invest between $20,000-$100,000 in six to eight early-stage technology companies.
Aside from the money, a range of mentors have signed on to support the startups. Mentors include Paul Cameron, CEO of Booktrack, Claudia Batten, founder of Massive and Victors and Spoils, Tim Williams, founder of ValueClick and chairperson at 90 Seconds and Jason Kerr, founder of Findly and Spoke.
Flux mentor, Jason Kerr, says, “After five startups, I’ve certainly learnt plenty about what it takes to build and exit a technology company. New Zealand has incredible talent and ideas, what is critical however, is turning these ideas into viable companies that scale internationally. Flux offers a pathway for founders to gain market traction and secure their next round of investment.”
Flux is a different model of startup accelerator compared to what is currently available in Aotearoa, designed to provide deeper support and a closer fit for products developed, as well as the chance to raise more money at a “demo day” where each team will pitch to more than 200 investors.
The new programme builds upon The Icehouse’s platform for early stage founders and investors, complementing the $11 million Micro VC fund, Tuhua Ventures and ICE Angels, the most active angel investment network in the Land of the Long White Cloud.
Mark MacLeod-Smith, director of Flux Accelerator and partner in Tuhua Ventures, is certainly thrilled. “Flux allows us to get closer to a smaller group of founders, providing more support and increased investment to the best technology startups New Zealand has to offer,” he says. “The Flux model aligns founders with The Icehouse’s existing investor networks, like ICE Angels who have collectively invested $56 million, and the recently created $11 million Tuhua Fund.”
Applications for the accelerator close on 19 December. It will begin on 20 February, 2017.