The Australian Institute of Company Directors (AICD) and Macquarie University partnered to pilot a training program for startup founders attending the university’s Incubator program.
The Governance for Growth Program will enable founders to advance their businesses to the next level, by providing knowledge, practical skills and tools. Using a format developed with entrepreneurs in mind, the training will take place over a two-day interactive workshop.
What will startups gain from the program?
The program covers four modules providing participants with tangible takeaways that can be applied to their existing offerings and are designed to give immediate value and action plans.
- Value Creation through Governance
- Value Creation through Strategy
- Value Creation through Financial Management
- Value Creation through Risk Reduction
Through its Startup Educate Program cohort companies of the Incubator at Macquarie University experience
a practical and applied-learning, focused on the areas business founders need to know to build sustainable, high-growth organisations. The Governance for Growth Program by Australian Institute of Company Directors is an extension of the program.
In 2021, Incubator startups:
- Attracted over $44m in funding
- Made over $6.7m in revenue
- Launched 35 new products
- Paid out $4.4m in wages employing 177 people
What were the executives’ thoughts on the program?
AICD Managing Director and CEO, Mark Rigotti, said:“The AICD is excited to be partnering with Macquarie University in its Incubator program. The AICD is committed to creating new and innovative governance training options for entrepreneurs across the diversity of the startup sector. It’s important that they are able to equip themselves with a practical and meaningful framework for operating in such a dynamic section of the Australian economy.”
Melissa Ryan, Macquarie University Incubator, Director of Incubation & Entrepreneurship said: “Incubator companies are frequently pitching to VCs, private equity firms and high-net-worth investors that expect a certain level of professionalism and governance from their investments. The outcomes from the AICD training will certainly position our companies more favourably with investors who have been more cautious with investments in recent times.”
“The materials covered in the Governance for Growth Program are vital for the companies of tomorrow to know. We’ve seen how much impact poor corporate governance can have on society. That’s why we’re working with the AICD to ensure the program can be extended to reach more innovators and founders across the country,” Melissa Ryan further added.
The partnership with Macquarie University will continue to develop the program with the AICD before taking it to the national startup community, business councils and state and federal organisations. The program commenced on Nov 9 at the Macquarie University Incubator.