Global startup generator Antler has officially launched in Australia, setting up a new location in Sydney.
Australia's up and coming entrepreneurs will soon have a new line of support with the news that global startup generator Antler is setting up operations in Sydney.
Designed to nurture entrepreneurs through each stage of the startup process, the program has worked with companies such as Google, Spotify and Uber.
The Australian version will commence in June and include between 50-100 future founders, aiming to form up to 50 startups a year.
Antler Managing Partner for Australia and New Zealand, Bede Moore, said the initiative was expected to generate 200 companies across the next four years within the country.
"Not only does the Antler program provide financial support to founders from day one, but it also offers unique access to a global network that will help to support Australian companies seeking to scale internationally," he said.
"We’re already seeing powerful success out of our programs in Singapore and Stockholm, and we’re excited to replicate similar results here in Australia."
Consisting of two phases across five months, the Sydney program will be run by Mr Moore and former CEO of BrickX Anthony Millet.
In the first phase, individuals are put in touch with strong founder teams through workshops, personality tests and hackathons, with support from Antler coaches, advisors and VCs.
At the end of this phase, Antler invests in the best teams for a minority equity stake.
For the second phase, the teams are left to build their companies and call on former founders for assistance with product launches and getting in touch with customers.
Antler provides $4,000 a month in the first half of the program, in addition to a further $100,000 investment offered to each of the most successful graduates of the program.
Founder and CEO Magnus Grimeland said the program was about giving individuals what they needed to leap into entrepreneurship.
"We want to help individuals transform great ideas into great companies that have a positive impact on the world around us," he said.
"Our program methodology and the top calibre of our advisors give our founders a massive advantage over other startups in the tech sector.”
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