Today marked day one of the Stockland Accelerator Bootcamp!
Selected from over 500 people, just 40 startup ideas were selected for the Bootcamp.
During the two week Bootcamp, the 60 founders receive a quick startup education and are guided by BlueChilli experts to validate their problem and test their assumptions.
The founders learn from a wide range of startup experts including BlueChilli’s Entrepreneurs in Residence (EIRs), product teams, designers, developers, and external advisors as well as Stockland experts.
Stockland Program Director, Matthew Werner is passionate about innovation, technology and education – and is looking forward to mentoring the founders to craft their best pitches:
“I was delighted to meet the 60 founders on the first morning of Bootcamp and to see how enthusiastic they are about this opportunity to engage with BlueChilli and Stockland.
The BlueChilli team are looking forward to seeing the results of the founders’ hard work during Bootcamp and during their final pitches for the opportunity to secure their spot in the Stockland Accelerator program.
The Bootcamp will be an intense two week process with plenty of learning, validating and testing. The hard work is just starting, but so is the fun!”
BlueChilli CEO Sebastien Eckersley-Maslin says: “I’ve always loved the interaction of the digital and physical worlds as it applies to the way we live and interact with each other, and by partnering with Stockland I’m really excited to see these ideas come to life through our program.”
“We’re always looking for a better way. The world is changing & the #property industry is no stranger to that. We want to build better places, & we want to connect them better.” – #Innovation Manager, Shannon Alba speaking at the @Stockland Bootcamp today with #stocklandstartups! pic.twitter.com/NEODesskF9
— BlueChilli (@BlueChilliGroup) November 12, 2018
The BlueChilli team have challenged the early-stage founders to interview many of their key customers throughout the fortnight. When creating something new, it’s important to ensure the focus is on understanding the problem, rather than personal assumptions about the market.
“Over the next weeks, we’re not looking at your solution. We’re looking at your problem & what you can find out about your market.” – EIR @brettgeoghegan on problem validation & the first steps of #startup research during day one of the @Stockland Bootcamp ✍#StocklandStartups pic.twitter.com/Aqnm5tMUDu
— BlueChilli (@BlueChilliGroup) November 13, 2018
The final challenge for the founders is the judged pitches at the end of the Bootcamp. Up to 15 startups will be offered a spot in the Stockland Accelerator six month program commencing in 2019.
As is the case with most accelerators, only the founders and startups best suited for the program will be selected.
So what do the founders get if they secure a place in the Stockland Accelerator?
- A technical product built by experienced engineers and developers
- AUD$38,000 pre-seed investment and potentially up to AUD$500,000 in follow-on funding
- Access to expert product managers, mentors and co-working space
- The chance to pilot and potentially scale the business with Stockland
- All of the above, in return for 15% equity to BlueChilli and Venture Partners
For the startups who get into the Stockland Accelerator program, the end of the Bootcamp is just the beginning.
Wondering what happens during a startup accelerator bootcamp? Read this.