First announced 18 November, the partnership will offer up to1000 high-growth startups access to support and capital. In so doing, the alliance brings, for the first time, a convenient way for Australian corporates, superannuation funds, and other entities to access the Aussie startup ecosystem.
“To date the Australian technology sector has been finding its feet and growing rapidly. Where we are today is a testament to local entrepreneurs and their ability and determination to punch above their weight,” said Artesian Partner and COO, Tim Heasley.
“But, it’s time for the startup industry to mature, to operate with a new level of professionalism without losing its edge. We need to mobilise, professionalise, and build a cohesive structure around the industry to take it to the next level.”
Good for all involved
The implications of this partnership are intriguing. Artesian brings to the fold a unique co-investment model, whereby it can rapidly scale is investments by outsourcing tasks associated with due diligence, mentoring, and sourcing startups. Artesian turns to universities, incubators, angel investment groups, and other third-parties to manage those tasks.
Head of Innovation for KPMG Australia, Martin Sheppard, said the alliance represents an important milestone for doing business with the rapidly rising entrepreneur set.
“Proactively engaging with Australia’s startup ecosystem is critical to our innovation strategy. It will expose us and our clients to new growth opportunities; provide early insights into emerging and disruptive technologies, and help us and our clients stay ahead of the curve. Combined with our Fintech work and other initiatives to be announced over coming months, it will position KPMG as an authority in this dynamic sector,” Sheppard said.
All about the data
The partners will jointly commercialise the accumulated data of the venture, which is expected to show the progress of up to 1000 startups, over the next five years.
“Although there is a lot of buzz around startups, including strong corporate interest, little actual research has been done on the sector. Our data has the potential to play an important role in unlocking entrepreneurial potential in Australia. This alliance is an incredibly exciting opportunity,” Sheppard concluded.
Anthillians, do you feel this partnership is a step in the right direction? We’d love to hear from you, in the comment space below.