Corporate start-up accelerator Slingshot is disrupting its own business model, recenty announcing the launch of Human Capital, Australia’s first HR-tech start-up accelerator, to be run in collaboration with leaders across the corporate Human Resources space.
Human Capital is a 12-week program that will seek out the most innovative and disruptive Startups, Scaleups and entrepreneurs in the ‘future of work’ space and foster deep collaboration with corporate leaders across Australia’s HR industry.
Karen Lawson, CEO of Slingshot and former CEO of CareerOne says the new program is a unique opportunity for corporates to solve some of today’s biggest business challenges including talent acquisition, learning and development (L&D), and employee health and wellbeing.
“So many businesses and industry leaders talk about the need to use new innovations to attract and retain top talent, create more productive, mindful and diverse workplaces and keep pace with the changing expectations and needs of workers. Now, it’s time to take action,” said Karen.
“Creating a great workplace is essential to long term business success and every businesses’ competitive advantage. Increasingly, we are seeing the challenges of keeping millennial employees engaged and enabling flexibility to meet workers’ changing needs and expectations. These are real issues facing human capital leaders. Corporates who find and deliver solutions that improve the way we work will be at the head of the next big wave of disruption,” she added.
What exactly does Slingshot do?
Founded by Trent Bagnall and Craig Lambert in October 2012 and officially launched by the Federal Minister for Innovation The Hon. Greg Combet in March 2013, Slingshot matches corporates with top-end entrepreneurs who who are building innovative and potentially market changing technologies.
Slingshot supplies large corporates with world-class innovation programs as well as internal accelerator programs and corporate readiness solutions. Their corporate innovation programs provide entrepreneurs with finance, mentorship and a dynamic work environment that stimulates creativity and productivity. The program curriculum is robust and proven to achieve real commercial results.
Slingshot is delivering these programs to some of Australia’s and global leading brands including the HCF, ING Direct, NRMA and Simplot Australia.
What does Human Capital mean for Slingshot?
Human Capital represents a completely new venture for Slingshot, which typically partners with one corporate business to create a tailored, industry-specific accelerator program.
The new program, set to launch in early 2017, will enable more businesses to be involved in driving innovation and disruption in Australia’s work environment.
The move has the support of local innovation champions including David Thodey, former Telstra CEO and Chair of Jobs for NSW.
“Employment growth is changing. Increasingly, new jobs are coming from a sector of the start-up economy, scale-ups (gazelles). About 3-3.5% of these companies are generating close to 80% of new jobs. We must be focused on initiatives which increase the success of these businesses scaling fast. Corporates can play a key role in not only facilitating that growth but being the beneficiary of innovation driven from outside their organisations,” said Mr Thodey.
“One of the key components for company success is its people – how talent is found, engaged, developed whilst ensuring key elements such as diversity and inclusion, health and wellbeing are being addressed. An HR tech accelerator provides NSW corporates with a great opportunity to improve their competitive edge whilst being a catalyst for start-up growth,” he added.
Slingshot co-founder Craig Lambert says, “Adaptation is more important than ever and Karen is leading the way in helping businesses continue to evolve in response to the market needs. By disrupting the existing Slingshot model, we’re positioning ourselves to be Australia’s leading accelerator and business generator.”
Accepted start-ups will receive $50,000 from the Slingshot Investment Fund for 10 per cent of the equity in the business as well as training and resources, support team of mentors and access to the new WeWork co-working space.
Those interested in being involved in the Human Capital accelerator can pre-register here.