Corporate accelerator, uSpark launched the second cohort of its Destination Start-Up Partner Program and offers start-ups up to $2m technical services in return for an equity stake.
It is one of the largest financial contributions by an Australian accelerator.
uSpark launches Destination Start-Up Partner Program
Powered by Unico, a leading Australian technology company specialising in always-on mission critical systems, uSpark’s program aims to help founders who are struggling to take their business to the next level by providing the missing piece of tech resources and expertise.
Through a unique partnership model, uSpark directly connects start-ups with access to Unico’s tech experts, bridging the gap between an idea and a technology solution.
The second round of the uSpark partnership program offers up to $2 million in services to enable start-ups to become more robust and scale through technology.
Managing Director of Unico, John Rowland said that Unico has helped some of Australia’s largest businesses grow through solving their biggest problems through technology.
He is happy that now the same services are available to start-ups through uSpark.
“One of the key obstacles for start-ups to get into the Australian market is the lack of technological knowledge, which is something uSpark is on a mission to change.”
“uSpark’s Destination Start-Up Partner Program will help to even the playing field for Australian start-up companies by giving non-technology and disadvantaged founders access to the same amount of technological resources that technology founders have access to.”
“We are stepping into the development gap to provide start-ups with the technology to launch a product to market, regardless of the sector they come from,” Mr Rowland said.
uSpark’s Destination Start-Up Partner Program
uSpark’s first Destination Start-Up Partner Program launched in February 2021 and received over 100 expressions of interest from founders who were looking to secure tech support.
uSpark made an offer to Josh Marsden of Applied Mental Health. He participated in the first cohort and will receive $700,000 in technical services to rapidly grow his business.
“As a non-tech founder myself, I had to seek tech support offshore as it’s more cost efficient.”
“Thanks to the uSpark contribution, I will now be able to build a tech team with four to five people in-house and utilise uSpark’s team for specific elements of our project.”
Having applied for other incubator programs in the past, Mr Marsden said that uSpark’s Destination Start-Up Partner Program is very unique compared to other accelerators.
“uSpark’s program is very individualised and there are no specific sessions or mentoring to commit to, which allows the business to focus on what it needs for growth.”
Pamela Wilson, one of uSpark’s six Board Directors explained that uSpark does not solely function in the deliverance of educational programs to its valued participants.
It focuses on collaborating with founders to develop robust products for the market.
“The Program offers a solid team with helpful industry and government contacts to help position and guide new businesses through the confusing innovation landscape.”
“The unique nature of uSpark’s Destination Start-Up Partner program has been very well received and this facilitated us to make more than just a financial contribution.”
“uSpark is offering a long-term partnership with interest in helping founders to develop their products and become as strong and enterprise-ready as possible,” Ms Wilson said.
