Applications have just closed for CityConnect, Australia’s first smart cities accelerator and we have over 200 great applications to review.
Brisbane startups overtake Melbourne for the first time
Melbourne is a bigger startup community than Brisbane, right? Well, maybe not when it comes to ideas for smart cities startups — 24% of applicants called Brisbane home, compared to only 20% from Melbourne. It could be an artefact of the sample size but it’s the first time I can recall a BlueChilli program getting more applications from Brisbane than from Melbourne. Sydney entrepreneurs represented 31% of applicants, 13% were from international locations, 3% Canberra, 2% Perth, and 2% Adelaide. We also saw an unusually high percentage from regional Australia at 5%.
What’s in this for selected teams?
Next step in the process is selecting finalists who will be offered a place in our free bootcamp, which will help founders refine and market test their ideas further. That will result in the best applicants being offered a place in the accelerator program, located in Brisbane, Sydney or Melbourne.
In return for 15% equity, accelerator participants will benefit from:
- A technology team to build a minimum viable product (MVP), saving $50,000 to $100,000 in development costs
- Expertise including an assigned Product Manager and Entrepreneur-in-Residence, market-proven curriculum and a cohort of peers
- Co-working space in Sydney, Melbourne and Brisbane throughout the six month accelerator program
- Access to subject matter experts and customers to validate your idea
- An initial $25,000 to get them started, with up to a further $250,000 in follow-on funding available
Best of luck to all the applicants, we’ll be in touch to let you know whether you’ve been selected for the bootcamp soon!