A group of Australian tech investors and entrepreneur have formed a new seed fund that will offer a Y Combinator -style incubator model, with small early stage investment and up-close mentoring to Australian startups. Startmate will hold its first program in the first quarter of 2011, and the application process will begin in October Startmate plans a three month program with five selected startups and will offer a $25,000 investment, mentorship from a long list of successful founders, and a two-week trip to Silicon Valley. There will be two demo days at the end of the program – one in Sydney and one in Silicon Valley, where participants will present in front of early stage investors. Sponsor According to Startmate’s website, “We strongly believe in lean startup principles. The biggest risk in a startup is not whether someone will steal your idea or if you can build a product but rather that no one will care
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Startmate Announces an Incubator Program for Australian Startups
