Other than the AU$20,000 seed funding from the 2012 incubator program, TinyBeans has bootstrapped their way to 500,000 users across the platform. While over 50% of the users are based in the United States, the application has people getting in on all the TinyBean action in 188 countries across the world, from Argentina to the Isle of Mann.
The influential factors for investors are varied and complex, which is why, as a founder seeking funding, it can be hard to identify the traits investors desire.
Social Enterprises, unprofitable, unscalable and uninteresting.
That is, at least to the majority of Australian investors according to opinions of many innovators in the community that has now almost become a subset of the startup ecosystem we call social entrepreneurs.
In part two of our Australian Mentors series, we change our focus to Melbourne’s startup scene. Just like Sydney, Melbourne has a strong tech entrepreneur scene with plenty of coworking spaces and accelerator programs. It is a strong ecosystem and home to some of Australia’s biggest online success stories such as Catch of the Day, Kogan, Envato and 99designs.
Whenever a startup raises capital – whether it’s $500,000 or $500 million – it garners media attention. We are certainly guilty of pouncing on those stories like hungry wolves. But the truth is, they are boring to write, and probably boring to read.
Dean McEvoy is one of Australia’s most recent Startup Success stories, with his first business Spreets which sold to Yahoo! – In this interview Dean talks about giving back to the startup scene, serendipity and what we need to do in order to build a strong community.
So you’ve come up with an idea and now you’re looking to raise capital? Before you approach investors, you might want to take this reality cheque. Entrepreneur and investor Martin Martinez spoke candidly with Shoe String about some of the misconceptions that have surfaced in the startup community about Australian investors; and made a compelling argument as to why bootstrapping is the best approach for startups.
After falling head-over-runway-heels in love with Flixel’s ‘Living Photos’, supermodel and businesswoman Tyra Banks decided to invest in the US company through Fierce Capital, LLC.
Last week the Top 10 teams from the previous weekend’s Hackagong Competition pitched their ideas at #IllawarraDigital2013 where they were judged and the overall winner was chosen.
Innotribe, SWIFT’s initiative to enable collaborative innovation in financial services, selected five finalists from the Asia Pacific leg of its annual Startup Challenge to compete at Sibos 2013 in Dubai.
If you have a business in the high-tech space that is looking for funding, you might be interested in pitching at Innovation Bay’s Angel Dinner in Sydney on Tuesday, 21 May.
This event being put on by River City Labs is different to every other pitching event that you have been to. They have turned the tables on the Startup ecosystem. It will be like a reverse pitch with key players in the industry explaining what they have to offer start-ups.