Sydney-based startup accelerator, Remarkable, has pledged over $200,000 for the next wave of socially-conscious startups who would like to take their place on its 16-week program…
Just five years ago, there were no tech accelerators in Perth. At last count, there are perhaps seven. Over in Sydney, there are many more, with various accelerators occupying certain industry verticals.
Frustrated with the lack of funding for early stage ventures at the time, Simply Wall Street moved to Sydney in 2014 to take part in the fintech accelerator AWI Ventures, where it received $100K, which led onto a $590K round of funding led by various Sydney Angels.
The ‘Remarkable‘ accelerator works with technology-enabled startups to benefit people living with disability and, according to its organisers, is making a name for itself with its focus on investing in startups for social benefit and financial returns. 2018 will see the third cohort go through its three-month programme.
“The core of Remarkable’s investment model is grounded on the social outcomes of its investments, and the ultimate purpose behind the startups it invests in, in addition to their profits,” Remarkable Founder, Pete Horsley, said.
Horsley’s comments come as Larry Fink, chairman and CEO of BlackRock investment fund pleads for business leaders around the world to serve a social purpose and consider their community along with their financial obligations.
Canva’s cofounder and CEO Melanie Perkins echoed the same sentiment in her excellent Medium post of January 14th.
“At Remarkable, we are fully embracing this new model for corporate governance and for investment,” Pete Horsley went onto to say. “Our ultimate aim is to recruit startups to our program based on the ability of founders to articulate how they’re using technology to grow inclusion among people with a disability.”
Founded in 2016 with the backing of Telstra Foundation and as a division of Cerebral Palsy Alliance – a leader in disability services – Remarkable has already supported 12 startups.
In 2018, the program is set to invest another $35,000 each (for 5% equity) in up to 8 companies with a focus on building solutions for people with a disability as the deadline for its upcoming 2018 intake draws near.
“Not only are we offering up seed funding for our next cohort of startups, they’ll also have access to a co-working space, mentoring, pitch coaching and access to corporate and investor networks,” Pete Horsley said.
“Right now, we’re looking for early-stage businesses that are working to drive innovation in the disability sector or address core activities such as mobility, self-care and communication,” he said.
Startups have until 3 February 2017 to apply for Remarkable’s next accelerator intake, which kicks off on 26th March, ending on 27th July.
The Remarkable accelerator is a 16-week programme based in Sydney, Australia. Startups should be tech focused or tech enabled and have a scalable product or service that leads to greater social or economic inclusion of people with a disability.