Melbourne’s first startup accelerator AngelCube has announced the names of the four companies that will take part in its inaugural program.
The first four startups to enter AngelCube’s six-month program have been selected from over 130 candidates.
RentWant.com, Lexim.com.au, TestPilot.me and Goodfil.ms have been selected to receive $20,000 seed capital, marketing support, travel opportunities, office space and mentorship from experienced entrepreneurs, including Leni Mayo from 99designs and Guy King and Bevan Clark from RetailMeNot.
“We shortlisted the most compelling 15 applicants for interviews and were blown away by the talent, passion and commitment of some of the teams – it made selecting just four incredibly difficult,” stated Andrew Birt, AngelCube co-founder.
“In the end we had to take a portfolio approach, selecting a combination of B2B and B2C companies – with a bias to companies that were closest to revenue generation or clear exit paths,” added CEO and co-founder Adrian Stone.
The four startups are now expected to move into Inspire9’s new co-working office space in Richmond and start their work with AngelCube. In the 17 of November they will be given the opportunity to pitch to investors at Aurelius Digital’s special angel investment dinner.
“Our aim is to get these start-ups to a level where they can improve many aspects of their business and talk comfortably to next round investors. They need to able to show traction, a clear path revenue, affordable customer acquisition and that there’s a logical acquirer one day in the future,” said Adrian Stone.
RentWant is a peer to peer location based rentals marketplace. It allows people who own household items they’re not currently using to rent them to other people. Using a mobile application one can easily rent anything one might need from people who live nearby.
Lexim provides an SaaS learning management system to be used by colleges and universities. It allows teachers to communicate with students and to create and distribute course materials in an online environment called Convergence.
Convergence also allows teachers to see how students are performing and how they’re engaging with the teaching materials. It also features video bradcasting, forum discussions, chat, email and calendar.
TestPilot.me provides continuous integration for Ruby. As most software developers are now using continuous integration servers to prevent bugs from appearing in their code, TestPilot.me makes continuous integration simpler and easier.
Goodfil.ms is a film review service based on Goodreads.com. It allows users to rate, review and recommend their favourite movies. Social film reviews can have a big impact in the movie industry and have become a big business for cinemas, studios and rental sites.