Startup circle., 11 York Street, Sydney (2026)

23/04/2023

From a game-changing 100% bio-based leather alternative to tech designed to boost workplace retention, the first Pitch of 2023 was a roll call of inspirational entrepreneurs bringing fresh energy and innovative ideas to the challenges of our day.

Earlier this year, the latest cohort of standout early-stage startups gathered at The Commons in Cremorne, Melbourne, for their shot at up to $100,000 in AWS Activate credits. Here’s a recap of the finalists, the winning pitch, and some of the judging panel’s key takeaways.
https://tinyurl.com/23m4xu52

From a game-changing 100% bio-based leather alternative to tech designed to boost workplace retention, the first Pitch of 2023 was a roll call of inspirational entrepreneurs bringing fresh energy and innovative ideas to the challenges of our day.

16/04/2023

On Tuesday Milkrun announced it would be closing its doors by end of week. It was the last ‘instant’ grocery delivery startup to remain standing in Australia, and for some the news doesn’t come as a surprise.

There’s several potential contributions to the closure. The continued economic climate and rising cost of living means shoppers are more frugal than ever and are less likely to splash out on delivery services and the premiums attached to them.

There’s also the change in the VC market compared to the ‘perfect storm’ of 2021, and the beginning of 2022 when Milkrun landed $88 million in total capital in the space of a few months. The era of cheap money is well and truly over, at least for now.

There’s also the fact that the startup, and others like it that have since collapsed, launched during COVID lockdowns. People were relying more on delivery services for their everyday lives. And it’s hard to argue with a 10-minute delivery window.

But according to experts in field, there was a far simpler reason for why Milkrun didn’t work out, and one that was clear from the beginning: the numbers just didn’t add up.
https://tinyurl.com/5n6nxyax

This week instant grocery delivery app Milkrun announced its closure. Here's why some experts weren't surprised at the news.

10/04/2023

Creativity is not only for artists; you can find it in all aspects of life, including the world of business. If you're an entrepreneur, then you know that creativity is essential to getting your new businesses started in a winning position. If the wheels aren't turning, and you're not developing new, unique and interesting ideas to keep your customers engaged — you're doing entrepreneurship wrong.

That's because creativity breeds originality. Originality is key to any successful startup. It gives your brand an edge over its competitors. How? Because your service or solution is different from what has already been before.
https://tinyurl.com/yck945r3

Here's why creativity is essential if you want to see success as an entrepreneur.

03/04/2023

Tech community pioneer Innovation Bay has partnered with collaboration platform Edda as it launches in Australia and New Zealand.

Edda is a software tool that helps professional investors collaborate more easily and effectively, making it easier for people to choose investments, manage portfolios, and sell them with more transparency and efficiency.

Innovation Bay’s VC investor community, Aurora will be able to use Edda to manage their portfolio of startups.

Innovation Bay’s cofounder Ian Gardiner said that while venture capital investors are putting billions into technology startups, they still use tools “from the stone age”, such as spreadsheets, to manage portfolios.

Edda’s mission is to help investment professionals easily manage their deals, portfolios, and relationships with investors and other businesses. Users can see the actual value of their investments and the impact they’re having, all in real time.

The collaboration tool is already being used by more than 130 investment firms in 30 different countries, with over $30 billion in assets under administration.
https://tinyurl.com/mu5mvcdr

Innovation Bay, the longest-running community for technology startups, scale-ups, and investors is partnering with collaboration tool Edda.

02/04/2023

Melbourne-born fintech Zeller is on a mission to change the way small businesses handle payments. Unsatisfied with the options provided by the big banks, and newer players like Square, Ben Pfisterer was one of four co-founders to launch Zeller in 2020. Its growth was meteoric: despite launching in the depths of COVID-19 restrictions, the firm garnered a billion-dollar valuation just last year, and continues to roll out new features for small and growing enterprises.

In Pfisterer, Zeller also has a uniquely qualified CEO: having served at NAB, Visa, and Jack Dorsey’s Square, he has a firm belief in what drives true innovation.

In a candid chat, Pfisterer outlined several key factors to have contributed to his success, and Zeller’s ongoing progress.
https://tinyurl.com/bdh8bajp

Fintech Zeller is on a mission to change the way small businesses handle payments. We chat with Ben Pfisterer, one of four co-founders.

30/03/2023

Creating a killer marketing plan doesn’t have to cost a lot of money.

All it requires is your time, effort and creativity.

These ideas will get you started. Why break the bank for your marketing needs when you can brainstorm your way to a killer marketing plan?

The best marketing ideas can be simple and inexpensive, but they don’t come out of the blue. They require an out-of-the-box, innovative thought process. Always remember that building your brand is a perpetual process, so get into the right mindset from day one.

Here are 13 marketing tips that can help you establish a solid framework.
https://tinyurl.com/4jc5prwa

Every entrepreneur should understand the importance of marketing their business. Follow these tips to establish a solid startup marketing plan.

28/03/2023

VCs are waking up to the fact that the battle against climate change can’t be solved with escooters or software — two areas they’ve ploughed billions into in recent years.

Luckily for them, a new generation of startups is promising to really move the needle on climate. Companies in fields like carbon capture and materials science.

The catch? They take a lot of money to scale. And they’re not software companies, but companies building big, physical stuff.

As a result, VCs are having to come up with a whole new playbook to back these capital-intensive businesses, or else they risk missing out on the next wave of climate innovation — and a lot of returns.

“Energy, soil degradation, food supply chains… The constituent issues of the climate crisis are physical problems that demand physical solutions. We are not going to save the world with software alone,” says Will Dufton, principal at VC firm OMERS Ventures.

“It is not hard to imagine a world in which billions of dollars of value is captured by many climate technology companies.”
https://tinyurl.com/ytk93a6v

In the race to build green infrastructure, VCs are having to get comfortable backing a whole new kind of company.

26/03/2023

The banking sector is currently experiencing great strain, which has resulted in several bank bailouts – most recently UBS’ deal to buy its Swiss competitor Credit Suisse following a collapse in confidence in the latter. HSBC’s acquisition of the UK arm of the collapsed Silicon Valley Bank the previous week brought great relief for its depositors, many of which were small tech start-ups.

SVB’s UK clients were lucky that the government facilitated the rescue deal so quickly – it was announced after SVB collapsed in the US – but they still endured several days of worry and uncertainty beforehand. And with financial markets now responding to continued concerns about the banking sector, particularly in Europe, it doesn’t look like all banks – or their clients – are out of the woods yet.

At a time like this, many small businesses will be thinking about their finances and how to make them more secure so they don’t face the same fate if there are similar situations in the future.

Here are four ways to shore up your small business banking in preparation for uncertain times:
https://tinyurl.com/mv6t5cu8

Small companies should think hard about their finances and how to make them more secure, particular in uncertain times.

21/03/2023

The administration of Silicon Valley Bank (SVB) in the wake of its recent collapse will challenge the expansion of Australian startups to the US, according to DLA Piper corporate partner Joel Cox.

“SVB was the bank of choice for almost all our Australian and New Zealand tech sector clients regarding their US operations, because of the specific products they created for VC backed businesses and their ease of doing business for founders”, Cox explained.

“They were also a key support as a LP to venture debt providers in our market. The administration of SVB will therefore have widespread implications and it will make it more difficult for Australian startups to expand to and operate in the US over the short to medium term”.
https://tinyurl.com/mt5wuzsy

Joel Cox believes that the bank's collapse is set to make trading condition more difficult

19/03/2023

As a legal advisor for startups, one often hears about the challenges that companies face when it comes to investors or stakeholders mapping out their exits. As a startup, the company’s goal is to create a successful business that will eventually lead to a return on investment for its investors.

One of the most important things a business can do to ensure success is to have a well-thought-out exit strategy. But with so many different types of exits available, how does one know which one is right?
https://tinyurl.com/2p93paph

One of the most important things a business can do to ensure success is to have a well-thought-out exit strategy.

14/03/2023

When uncertainty is high, knowing where you stand — and learning about your mistakes while there’s still time to fix them — is more important than ever. To be able to adapt to changing conditions and ensure that your team continues to feel supported and motivated, you need to understand what you’re doing well — and where you’re falling short. Soliciting clear, actionable feedback allows you to make better, more informed decisions and pivot when necessary.

Asking for feedback also creates a culture of trust and transparency. With concerns about an economic downturn rising, already overwhelmed teams are being asked to do more with less. When employees feel like their input matters, they’re more likely to remain loyal, engaged, and productive. They’re also much more willing to surface valuable concerns and suggestions.
https://tinyurl.com/5799w9r8

When things are uncertain, it can feel comforting to avoid difficult feedback. But creating stability for your team — and success for your organization — depends on your ability to learn what needs to change. Burying your head in the sand is never the safe thing to do. A culture of ruinous empat...

12/03/2023

Five years after the TV company itself went belly up, Network 10 is bringing back its startup investment show, Shark Tank Australia, for a fifth series.

The move comes at a time when the term “startup” is much more deeply embedded in the public psyche than eight years ago, when it originally kicked off in 2015 with Red Balloon’s Naomi Simson, Boost Juice’s Janine Allis, Andrew Banks from Talent 2 International, Dr Glen Richards, founder of vet empire Greencross, and River City Labs founder Steve Baxter, now of syndicate VC fund Ten13.

The “five business superstars” acting as sharks for the new series, to air this year, have yet to be announced. Their role is as competing investors in the early-stage companies pitching for cash, supposedly cutting a deal on the show. The original series ran for four seasons until 2018.
https://tinyurl.com/yvs4byzt

Five years after the TV company itself went belly up, Network 10 is bringing back its startup investment show, Shark Tank Australia, for a fifth series. The move comes at a time when the term “startup” is much more deeply embedded in the public psyche than eight years ago, when it originally kic...

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