Five Canberra-based businesses have been accepted into the inaugural 2014 GRIFFIN Accelerator program.
Focusing on servicing the government sector, the accelerator program received over 40 applicants with solutions in the software, services, education and health space.
GRIFFIN spokesperson Nick McNaughton says they are delighted with the interest that has been shown in the accelerator.
“It has been a very difficult task for the organisers and mentors to select the participants for this program,” he says.
“We were impressed by the diversity of ideas and innovations submitted for consideration.”
A group of Canberra mentors evaluated all applications and have selected the following five start-ups to go through the initial three month program.
- Made for Me – the “world’s easiest 3D printing marketplace”.
- Quizling – a mobile platform for creating, delivering, managing and monitoring educational quizzes in the classroom.
- Symberra – A scenario modelling platform to exploit an organisation’s big data and inform decisions.
- Enabled Employment – A recruitment site connecting people with special needs with employment opportunities.
- Snapknock – Mobile-enabled marketplace.
The GRIFFIN Accelerator program is driven by a group of mentors who provide the capital to invest up to $50k in each startup. The mentors provide advice, targeted education, networking and more to enable the startups to succeed.
The model is unique: shortlisted applicants gain access to a three-month program with $25,000 for customer validation activities, in return for 10% equity.
At the end of this three-month block, a select number of startups will be invited to continue for another three-month intensive program with an additional $25,000 instalment for a further 5% equity.