Launching for its 7th consecutive year, applications are now open for the 2022 Plus Eight Accelerator program.
Founded by technology hub, Spacecubed, the incubator is designed to help WA startups looking to rapidly scale their growth – domestically and globally. So far, the program has invested over $1.5M in startups, and facilitated an additional $12M in follow-on investment with a $101M portfolio valuation.
Looking to be the program’s biggest year yet, there is an increased pool of $500,000 in seed-funding available, an international trip for the founders, the chance to meet and connect with international funders, speak directly to investors and up to 6 months of acceleration support in the heart of the CBD.
New partnerships have been made with automotive cooperative, Capricorn Society and management consultant firm, Visagio. They join other industry leaders including Woodside Energy, RAC’s BetterLabs, Hawaiian, Eastcourt, Jackson McDonald and DFK Gooding Partners.
Last year saw an additional $1.8M in follow-on investments for the cohort, who were supported by local mentors – including alumni from SpacetoCo, uDrew and HeyLady!. 2021 alumni include Snackr, IDEA, Wolfit Box, Tender Relief, Ready Team One and The Tooth Market.
Amazing group of mentors, supporters and founders
When asked about their experience, the 2021 cohort praised the program for its direction, growth and access to world-class mentorship.
“Over the past few months, we have been lucky enough to be surrounded by an amazing group of mentors, supporters and other founders who have helped us refine our internal processes and accelerate our growth trajectory to sign 6 additional venues this year,” said Grace Tate, co-founder of Snackr.
“Plus Eight has helped us take our business to the next level, connecting us to the best in Perth’s startup ecosystem and afforded us invaluable time with experienced mentors that have challenged us to dream big and think globally,” said James Tang, co-founder of Read Team One.
Like many accelerator programs around the world, the competition is fierce. It is only for the best of the best startups tinkering with worlds that don’t exist yet and ready to take on a challenging three phase process.
Startups selected following an intense application process will join a weekend bootcamp where they will hustle their way to the first phase of the program, before ultimately pitching their way for cash investment towards the final Demo Night, which took place last year as part of the West Tech Fest.
Resilience is key to succeeding in the program. Can you handle the pressure? Will you do whatever it takes to make your business succeed? All startup founders interested in the program should think long and hard about these questions.
Applications are now open here.
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Disclosure: Spacecubed is a sponsor of Startup News.
