CUA, Australia’s largest member-owned financial services provider, has selected five startups for its Sponsored Entrepreneur Program, in conjunction with tech start-up hub River City Labs.
The program runs for over three months with CUA sponsoring full-time desk memberships at River City Labs, structured mentoring by the River City Labs mentoring team and access to training and networking events for the successful applicants.
Marketing and publicity opportunities and support are also offered to the start-ups.
The five start-ups are:
- Critik, which created a feedback mobile app that facilitates feedback between customers and businesses
- Gizmo 3D, a state-of-the-art 3D printer manufacturer
- Crowd Delivery, a subscription-based service that delivers everyday items such as groceries and hardware to a customer’s home or workplace
- Genesis AR, an augmented reality startup that combines digital and physical gaming
- 2ndLease, a peer-to-peer rental marketplace for consumer products
Nurturing innovation
Susan Mason, CUA’s Acting General Manager of Business Transformation & Technology, said she was looking forward to seeing new, innovative business ideas being nurtured and developed.
“Innovation is part of our digital first transformation and is a key focus for CUA. Working with River City Labs gives us a real insight into the startup culture as well as access to smarter and more agile ways to work.
“Our team saw firsthand how the previous group of entrepreneurs that utilised the CUA-sponsored desks were able to identify a significant market need and respond with unique ideas that were turned into value-added solutions. The support offered by the Sponsored Entrepreneur Program is an excellent opportunity for these five startups to lay the successful foundations to become strong, global businesses,” Ms Mason said.
River City Labs interim general manager Aaron Birkby said CUA’s continued involvement in the Sponsored Entrepreneur Program was strong validation of the organisation’s commitment to the startup sector.
“CUA is a prime example of an organisation that’s doing everything it can to back startups and help foster innovation,” Mr Birkby said.
“Startups need all the help they can get and we’re very pleased CUA has again decided to get involved in this initiative.
“We’re very proud to host this cohort of startups and look forward to helping them excel,” he said.
The announcement comes after the recent launch of the upcoming CUA Forces of Attraction hackathon on 4 to 6 August, which will challenge participants to create a unique service or product offering around key life events such as purchasing a first home or the birth of a first child.
