Ten local and international startups will have the chance to pitch their business ideas to global investors at the first Techstars “demo day” in Adelaide today.
Up to 300 local and international visitors are expected to attend the Shark Tank style event, which will showcase the work of innovative startup companies and the new technologies being developed, including big data and analytics, sensors, rocket propulsion and cyber security.
Techstars is a global ecosystem that assists entrepreneurs to bring new technologies to market through its startup and accelerator programs. Its venture capital arm, Techstars Ventures, currently has $265 million under management.
In July, Techstars launched its first Asia-Pacific accelerator in Adelaide, which focused on developing defence and security technologies with support from corporate partners including Boeing Defence Australia, Codan Defence Electronics, SAAB Australia and Thales.
Participating startups gain access to the Techstars’ global network, mentors and workspaces with cash investments of up to $US120,000 and more than $1 million of in-kind benefits. In return, Techstars take a 6 per cent equity stake in each company.
The Techstars Adelaide finalists are:
- Daitum (Adelaide, South Australia) – The startup has developed a cloud-based, self-service software which combines artificial intelligence, machine learning, and data analytics to help businesses realise the true value of their data.
- IR Sensors (Adelaide, South Australia) – The company has developed an infra-red security sensor that detects human presence, whether moving or stationary, with zero false alarms. Its patented mosaic pixel technology is poised to be a game changer for the passive infra-red domestic and industry security markets.
- MySky Technologies (Adelaide, South Australia) – The company’s flagship product is a portable, fire-and-forget counter drone technology. A design and production facility is in development in Adelaide for super-fast military drones.
- Teamgage (Adelaide, South Australia) – The company has developed an online platform aimed at large organisations that helps foster a culture of continuous improvement by improving employee engagement levels and enhancing team performance using real-time feedback.
- NIMIS CyberSecurity (Melbourne, Victoria) – The startup has designed a penetration testing tool that simulates a cyber attack and helps companies stop cybercrimes before they become a victim.
- Iridium Dynamics (Brisbane, Queensland) – The startup has designed a commercial drone for inspection, mapping and surveillance over long distances and large areas.
- RadioMaze Inc. (Cupertino, United States) – Provides low-cost home security using a Wi-Fi signal to alert smart devices for anti-intruder home detection.
- Additive Rocket Corporation (San Diego, United States) – Uses revolutionary techniques to rapidly produce 3D print lightweight rocket engines for the space industry. Founder Andy Kieatiwong worked as a manufacturing engineering intern at SpaceX.
- CRON Systems (New Delhi, India) – The startup has designed an Internet of Things-based detection platform, which aims to future proof international borders, making them smarter, safer and more secure.
- Dotterel Technologies (Auckland, New Zealand) – Focuses on noise reduction and audio enablement in drones, with a focus on commercial uses across defence and security.
Quotes attributable to Manufacturing and Innovation Minister Kyam Maher
Our Techstars finalists are already doing great things from Adelaide, leveraging our growing start-up ecosystem and taking advantage of our defence capabilities and local talent to create new jobs for our state.
Hosting Techstars’ first and only accelerator program in the Asia-Pacific region enables Adelaide to cement its status as an emerging major startup hub.
The prestigious accelerator program is a great addition to the support for our start-up ecosystem which includes TechInSA, GigCity Adelaide, SA Early Commercialisation Fund, SA Venture Capital Fund and the recently announced Space Innovation Fund.