Get your motor running: Applications open for NRMA’s second Jumpstart accelerator program
Wednesday, July 1, 2015/
Applications are now open for the NRMA’s second Jumpstart accelerator program.
Previous participants include social network Gamurs, which recently snapped up $350,000 in seed funding in order to improve its platform and scale its user base.
Three other startups involved in the original program have also closed their first rounds of funding.
In addition, Caravan rental startup Camplify and homecare marketplace Careseekers are in the process of finalising commercial agreements with the NRMA – giving them access to up to 2.4 million customers.
Participants are given a $30,000 grant when they start the three-month program, as well as mentoring by industry professionals and the opportunity to network with potential investors.
Founder and chief executive of Gamurs, Riad Chikhani, told StartupSmart that taking part in the NRMA accelerator has been crucial in putting his startup on the right track.
“Initially when we entered the program all we had was a business idea,” he says.
“As soon as we started the classes and weekly meetings it shifted our perspective and we started thinking about it as not just as a business idea, but how do we execute the idea and build a business model that can generate revenue for us,” he says.
Chikhani says the mentorship process was a particular standout of the accelerator, especially when it came to learning how to acquire users and manage a team.
“It allowed us not only to build a team but build the best team we could, which makes a massive difference when you’re trying to build a startup,” he says.
“I would definitely recommend it to whoever would be able to build a product that aligns with NRMA’s target market. They were very hands on and involved in the business – they wanted to hear what was going on so they could provide us with as much mentorship as possible so you can get the best possible outcome from situations they’ve seen many times before.”
NRMA president Kyle Loades said in a statement the Jumpstart program was all about nurturing startups that could one day become household names.
“Jumpstart is a logical extension of our ongoing quest to develop and offer new products and services to our members,” he says.
“We are encouraging startups to apply for a Jumpstart program position. The structure of our accelerator program gives participants a launching pad for their products and services.”
Applications for the NRMA Jumpstart program close on August 6, 2015.