Hub brings expertise for global expansion
TECH start-up advisory group StartMesh is teaming up with innovation hub Beach City as it expands to the Gold Coast.
StartMesh was launched in 2014 to help start-ups scale around the globe through a vast network of “commercialisation experts” in cities as diverse as Boston, Sao Paulo, Singapore, Helsinki, Cairns, Brisbane and 22 others.
For example, a Gold Coast start-up could look to tap into the network to launch into the Austin, Texas, market, or vice versa for an Austin start-up.
Chief executive and cofounder Richard Webb said StartMesh offers expertise in global commercialisation and expansion, access to capital, experienced executives, back office support, and communication and marketing.
“What we do is get the business rocking to the point where it has positive cash flow,” he said. “For the Austin example, it would be difficult to grow in that market without our network.”
Mr Webb said 120 start-ups applied each month to be a part of StartMesh. He said they would not take “competing start-ups,” meaning they only take one start-up that works in a particular sector.
He said the start-ups had to have revenue between $250,000 and $10 million and a “validated idea”, one where people were prepared to pay for the solution the business offered.
The application process involved an eight-week “dating period” whereby due diligence was conducted on the business and a month-by-month plan drawn up on taking the startup global.
“At the end of the eight weeks we both get a ‘no go’ option,” Mr Webb said.
He asked any Gold Coast start-ups to get in touch with Beach City chief executive Leigh Kelson with their ideas at leigh@beachcity.com.au.