The Optus-Innov8 seed fund will begin taking applications from Australian startups year-round, a significant shift from its previous approach of holding application rounds twice a year.
Besides cash, the seed program provides startups with mentoring, networking and dedicated co-working spaces. Startups can reach Optus’ Australian customer base and also potentially expand into Asia.
“Through feedback from the startup community, we’re evolving the Optus-Innov8 Seed model to offer support to startups when they need it,” Optus-Innov8 director Peter Huynh said in a statement.
“Early‐stage entrepreneurs have immediate needs for funding and support. Now we’re open all year long, startups now have the freedom to approach us when the timing is right for them.”
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The seed fund also announced it will hold showcase events for startups starting this December, focusing on different investment issues. The first will discuss the impact of the digital age on learning.
“The Optus‐Innov8 Seed showcase events aim to get key industry players together to connect and hopefully form fruitful business relationships,” said Huyhn. The reality is that for startups, customers and partners are just as important as funding.”
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