Slingshot Accelerator will partner with The National Roads & Motorists’ Association (NRMA) to identify and mentor trail-blazing startup and scale-up businesses with its inaugural Jumpstart program.
Slingshot and the NRMA have been in discussion for some time regarding the design of Jumpstart and this begins a three-year relationship that will see the two companies work together to play their part in the growing Australian startup community.
Trent Bagnall Slingshot co-founder said that the NRMA are a great example of corporate innovation through engagement with the local startup community.
“We have an accelerator for early stage businesses that need capital, a creative location and a mentor driven program but we have also created an opportunity for companies at that next stage of development and who have some traction but need the one key ingredient to grow quickly which is access to millions of customers,” Trent said.
“We are looking forward to taking this leap into the future with Jumpstart by offering 10 startups and four scale-up places in the program.”
NRMA Group CEO Tony Stuart said that NRMA was one of a handful of Australian organisations that had realised the untapped potential of entrepreneurs.
“Jumpstart is about finding and growing innovative business ideas with a particular focus on smart new digital services,” Tony said.
“We want smart thinkers that need help launching their business idea. We want ideas that can be cultivated and converted to provide future Member services and benefits and we are prepared to put our money into helping these businesses grow.”
“NRMA sees itself as a facilitator, nurturing business concepts and small businesses that have a very real potential to be commercially and strategically relevant in the future to our Members. We are offering startup and scale-up businesses a package of intellectual and financial benefits to progress their idea to a bigger scale.
“The difference with Jumpstart, what sets us apart in the startup space is that we are seeking business concepts that fit four themes specifically for our Members; Smart Services, Connected Cars, Connected Members and Member Lifestyle”.
The accelerator program will offer
- Potential to access more than 2.4 million NRMA members
- $30,000 seed funding
- Structured 12-week program
- Inspiring mentors
- Stimulating workspace at ‘hubs’ in Newcastle or Sydney
Jumpstart submissions opened on Monday, 29 September 2014 and close on Friday, 14 November 2014.
A roadshow of four presentation evenings will be held to introduce Jumpstart to interested entrepreneurs with the Newcastle presentation on Friday, 17 October 2014 at Sparke Helmore.
Jumpstart is run by Slingshot Accelerator and supported by external partners, Artesian Venture Partners, UTS Business School, the University of Newcastle, PwC and Sparke Helmore Lawyers.
Image | Craig Lambert and Trent Bagnall (photo courtesy of the Newcastle Herald)
Slingshot is Australia’s leading corporate accelerator program, working with clients such as Qantas, Lion Group, SEEK, Hudson, HCF, ING Direct, the NSW Government, the QLD Government and UTS. The startups and scaleups that have gone through Slingshot-run accelerators have a combined market capitalisation of more than $227M and over 82 per cent are still active or have been acquired.
The Slingshot methodology is validated and university accredited, with their STAR4000 course helping to equip the next generation of entrepreneurs. This year Slingshot also launched a new platform, CoVentured, to connect corporate Australia to a growing community of startups and scaleups. Founding corporates on the platform included Westpac, Woolworths, Optus, Australia Post, Energy Australia, Lendlease and Tabcorp.