Leading startup conference SydStart has announced a partnership with the Australian Securities Exchange in a bid to encourage more tech startup businesses to list locally.
The ASX is providing the venue for two screening days to be held in their exchange theatre prior to the event on May 2.
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Companies who have purchased a SydStart ticket enabling pitching will be assessed by the SydStart team and several ASX team members and invites to select the startups to star on the SydStart day.
Conference coordinator Pete Cooper told StartupSmart the ASX team would be inviting some of their investment community to the event and using the criteria: team experience and fit, momentum and traction, defensibility of the idea at all stages, and innovative thinking.
“This is hopefully the start of a more strategic relationship over time to help the tech startup community get more listings and the ASX to continue to grow even with a potentially declining resources industry,” Cooper says.
The partnership between the landmark event and the ASX began during the float of online jobs market website Freelancer.
“The Freelancer listing created a flagship for tech companies listing locally. It’s great to have a role model,” Cooper says, adding he expects more startups will list in the coming years.
“We’re (Australian startups) getting more sophisticated about our response to the challenges here. You can leave your team here and raise money in international markets. It’s a very powerful story for the ASX if you get international funding and have global clients.”
Freelancer’s IPO in October was a capital raising event rather than an exit for founder Matt Barrie.
Taxi app and payment systems startup Ingogo told StartupSmart last year that they intend to list on the ASX in mid-2014.