A new entirely Perth-based accelerator launches today, funded by Perth investors, mentored by successful Perth entrepreneurs, and focused on helping Perth startups succeed.
The Amcom Upstart program draws on the successful entrepreneurs in Perth’s startup community to create an accelerator program that is entirely about helping Perth startups succeed.
The terms are pretty standard: $40K for 8% of each startup, so every successful applicant immediately achieves a valuation of $500,000! The term sheet is here: http://www.amcomupstart.com.au/pdf/UpstartTermSheet.pdf so check out the conditions yourself. One of the wrinkles in this sort of program is that there is a limit on how much of this investment can be used to pay founders ($10K), and applicants must work full-time on their startup, so you’d better have some savings or passive income before applying.
The major benefit of an accelerator program is the mentors that it gives access to, and you can see from the mentor list on the site that this program is supported by some of Perth’s finest entrepreneurs. The wealth of experience and knowledge here is fantastic, and as business in Perth is all about who you know, this will give anyone a head-start to success here.
