If you have been to Bluechilli in the last few weeks you would have seen (in true Sebastien Eckersley-Maslin style) a thermometer diagram upon the wall with a multi million dollar goal. The NSW Ernest and Young, Entrepreneur of the Year and 3rd place holder of the current BRW list of most innovative companies has been flying around the country selling his new Investment fund venture, and the response has been extremely positive.
Already Bluechilli have a strong existing model on building and scaling new startups and what this venture fund has essentially done, has made his whole offering twice as attractive. The fund works based on a veto system. Any Blue Chilli company that raises over $100,000 from three investors will receive matched funding unless vetoed by the investor committee. Artesian Ventures will be managing the fund and the veto committee will comprise of Eckersley-Maslin, Dr Jana Matthews (ANZ Innovyz), Simon Hackett (Investor) Alexander van der Laan, plus Jeremy Colless and Tim Healy from Artesian Ventures.