The Icehouse has picked the six lucky tech startups that will be participating in its Flux Accelerator programme this year, which already has $500,000 of seed funding.
The Accelerator Programme, run in conjunction with Callaghan Innovation, is a six-month business pathway that provides guidance from some of tech’s biggest companies.
Those companies include Amazon Web Services (AWS), which will provide the startups access to its AWS Activate programme.
Flux Accelerator’s director, Mark MacLeod-Smith, says the six startups have used technology to create projects that could be rolled out across the world.
“Through Amazon Web Services’ Activate program, the six startups will have access to advice from AWS architects and engineers and a grant of credits to start building on the AWS Cloud - which has already helped many of the world’s top technology companies rapidly scale to meet their potential including Canva, Slack and Airbnb and of course Xero,” he says.
The programme also includes more than 80 mentors, including ValueClick founder Tim Williams and Findly and Spoke founder Jason Kerr.
The six startups, 1Centre, Genoapay, Jude, Osnova, The Social Club and Vidapp, cover industries such as finance, social media, education, ecommerce and video media.
They will have the chance to raise capital at “Demo Day” towards the end of the programme, in which they will pitch their ideas to 200 investors.
Flux mentor, Tim Williams, says, “Kiwi entrepreneurs are competing against others from around the world for customers, funding and mindshare. Flux will provide an edge, giving the six startups a leg up as they look to build a global company,” comments Tim Williams, a Flux mentor.
By spending time with founders that have built and exited successful companies, the Flux founders will be able to tap into networks and expertise to help them on their journey,” Williams says.
The six startups are:
- 1Centre: Streamlines the setup and ongoing management of trade accounts
- Genoapay: Provides retailers with payment plans for their consumers at the point of sale
- Jude: Redesigns the banking experience and allows anyone to have the services of a private banker
- Osnova: Private maths tutoring using artificial intelligence
- The Social Club: An online platform that connects brands with social media influencers for campaigns and ongoing collaborations
- Vidapp: Enables any video producer to connect and sell to the world through their own customised video apps
Ben Lynch, founder of Jude, says Flux is an attractive venture.
“Flux attracted us because it offers support to help us build a product that customers will love as well as a pathway to further capital raising. I believe that our six months inside Flux will give us greater certainty about our business model and help get to market faster,” he says.
The Icehouse also has a range of other investor networks including ICE Angels and Tuhua Ventures. The Flux Accelerator is supported by AWS, Simpson Grierson and Auckland Tourism, Events and Economic Development.
“With the support of Callaghan Innovation and Auckland Tourism, Events and Economic Development, Flux enables the sharing of knowledge and expertise between startups, mentors and partners. This contributes to lifting the collective digital capability across industries, critical for futureproofing New Zealand’s economy,” MacLeod-Smith concludes.