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1. THE BEGINNING
This innovation came to life when…
When BlueChilli set the audacious goal, nay, challenge of starting and investing in 100 startups within five years, it needed a solid investment framework and infrastructure on which to do this. Over the next 12 months (and 23 investments) BlueChilli developed Venture Technology — a service to invest in the technology in startups and one that can scale to support the vision of 100 startups by 2016.
2. WHAT & HOW
The purpose of this innovation is to…
Venture Technology enables BlueChilli to invest in the technology, business skills development and education into a startup that mitigates the risk in the four startup quadrants of Tech, Idea, Capital and Market.
It does this by…
Venture Technology achieves this by combining a two-year competency-based training system (loosely based on the Navy’s training programs) on top of workshop-driven education, incubation in co-working environments, a capital raising structure all supported by ChilliSource, a technology framework that enables the software for a startup to be built in minimal time.
3. PURPOSE & BENEFITS
This innovation improves on what came before because…
Venture Technology improves on Venture Capital as it mitigates the key risk aspects of a new venture: people, idea, technology development and market.
The benefits to the customer/end-user include…
Non-tech founders can start a tech business and can focus on what’s important: growing their brand and building their customers.
4. COMPETITIVE LANDSCAPE
In the past, this problem was solved by…
Paying a lot of money to a group of independent service providers who were not aligned in their motives.
Its predecessors/competitors include…
The only real competitor in Australia is the Pollenizer Business which achieves the same outcome but via a very different approach and methodology.
5. TARGET MARKET
This innovation is made for…
Target audience is non-technical founders who are looking to start a business. Or 60% of Anthill’s database 😉
6. DISTRIBUTION STRATEGY
It is available for sale through…
Our ‘pitch to us’ form on our website: bluechilli.com/pitch-to-us/
Our marketing strategy is to…
Use our internally developed ‘Meerkat marketing’ where we “Stick our heads up and look around”. We sponsor and host startup events, take an active leadership role in supporting and growing the startup communities and assist with lobbying for the best interests of startups to corporates and government. Also, we like to win awards…
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FINE PRINT
This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.
