SA entrepreneurs receive boost for their start-ups

Thursday, 16 February, 2017

SA entrepreneurs receive boost for their start-ups

Australian start-up companies that made their way into the finals of the Bridge to MassChallenge have travelled to Boston for the event.

Two SA start-ups have attained a position in the top five of the competition.

If they win, they gain access to a business accelerator program with a shared prize pool of more than $3 million.

“We are punching above our weight in South Australia, with half of the bootcamp participants drawn from South Australian start-up companies — proof that our state is fostering innovative, young entrepreneurial creatives who have the potential to deliver great economic gains,” said Manufacturing and Innovation Minister Kyam Maher.

The Bridge to MassChallenge Australia finalists will now compete for a place in one of MassChallenge’s five world accelerators in the United States, Mexico, Switzerland, Israel and England.

South Australia’s James Stewart from and Selena Woodward from Edufolios, along with three other Australian start-ups, including Stop Rotor, Conweigh and Microba, are finalists following the five-day bootcamp at the MassChallenge headquarters in Boston.

“Progressing to the next stage will open new doors and opportunities for, particularly in the USA with support from the MassChallenge team,” said Stewart.

“At Edufolios, we are excited for the future. We are planning to employ two new team members within the next six months. We are also creating more opportunities for the teachers who subscribe to our platform to grow in confidence and skills,” said Woodward.

MassChallenge is a United States-based not-for-profit start-up accelerator program providing support to the highest-impact and highest-potential start-ups and entrepreneurs. To date, 1211 MassChallenge alumni have raised over $1.8 billion in funding, generated over $700 million in revenue and created over 60,000 direct and indirect jobs.

In Australia, Bridge to MassChallenge is a nationwide start-up competition to identify the best start-ups. In November 2016, 10 start-ups were selected from a pool of more than 200 applicants following a national competition and three state-based bootcamp programs in South Australia, Victoria and New South Wales. Four of the top 10 start-ups to travel to Boston were from South Australia.

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