Asia Pacific Tech Entrepreneurs Invited to ANZ Innovyz START Mentorship Program

Technology entrepreneurs in the Asia Pacific are invited to sign up and apply for the ANZ Innovyz START accelerator program that aims to help startups improve their business skills in pitching ideas to secure financing from investors and venture capitalists. The program is run by Innovyz and based on the TechStars Global Accelerator Program, and will offer funding and mentoring to 10 participating startups from around Asia and the Pacific.

The program is not curriculum-based, but will focus instead on mentorship. Accepted participants will be working closely with experienced entrepreneurs in various tech-related fields. The aim is for technology startups and technopreneurs to be able to identify target markets, grow a business quickly, and work out a company plan.

Each of the successful companies — with three founders/directors per company — gets to relocate to Adelaide in South Australia and receive AU$ 6,000 each (US$ 6,300), or up to AU$ 18,000 (US$ 18,890) per company, plus benefits and course delivery worth AU$ 185,000 (US$ 194,170).

At the end of the program, the 10 startups get to pitch their business plan to investors and venture capitalists, with a chance of receiving funding and support, assuming their business plans are viable as commercial products or services. ANZ Innovyz START will take an 8% stake in funded companies in exchange for the assistance.

The program will be based in Adelaide and will last from May 28 to August 17, 2012. This year, the program is specifically looking for the following applicants:

  • Entrepreneurs with ICT or Web 2.0 based ideas, and which have the capacity to have a global audience;
  • Startups that need financial backing to get into the market with an existing idea;
  • Young businesses that need guidance in order to grow.

Application started late February and will last through April 20, 2012, with announcement of accepted applicants by May 14, 2012.