Today Australian Chief Minister Katy Gallagher opened the GRIFFIN Accelerator in Canberra. The accelerator is focused on startups who create scalable products and services for the government, particularly in the verticals of government software, government services, defence, education and health.
Applications for the first batch are open until May 23rd even though startups that apply early have a higher chance of being selected for the second stage.
In the second stage the shortlisted applicants will be invited for interviews on June 3rd. Besides the concept, the jury will focus on the right team which ideally consists of a hacker (tech), a hustler (business development & marketing) and a hipster (design).
The selected 10 participants will then join the GRIFFIN Accelerator for three months, starting on July 1st. Besides getting mentored and a roadshow with access to investors, the accelerator gives each participant $25k AUD for customer validation activities in return for 10% equity in the startup.
After the initial three months, selected participants will be invited to attend another three months at GRIFFIN Accelerator. For this they will receive an additional $25k AUD in return for 5% equity.
This 3+3 months development program aims to let entrepreneurs build a plan, validate their technology and business model, and produce a working prototype of their product or service to test with customers.
Teams must be Canberra-based or relocate to Canberra for the duration of the program. GRIFFIN Accelerator is being run in collaboration with Ignition Labs, an accelerator program in ATP Innovations Sydney and the product of collaboration between several of Canberra’s innovation-led institutions.
Canberra accelerator program launched by Chief Minister Katy Gallagher | Shoe String