llms.txt
# Startmate
> Startmate is a pre-seed investor, accelerator and community backing the most ambitious founders, operators and investors in Australia and New Zealand. Founded in 2010 by Niki Scevak, Startmate has invested in 300+ startups with a combined portfolio value of $4.5B+. HQ is in Surry Hills, Sydney, with an office in Cremorne, Melbourne.
Key facts:
- Founded: 2010, by Niki Scevak (who went on to co-found Blackbird Ventures in 2012)
- Portfolio: 300+ startups, combined value $4.5B+
- Region: Australia and New Zealand (at least one founder must be based in Australia or New Zealand)
- Stage: pre-seed. 67% of Accelerator companies had no revenue when they applied, and every cohort has included at least one idea-stage, pre-MVP company
- Sector focus: industry agnostic
- Founders: solo founders and teams are both welcome. Since 2021, 40% of Accelerator companies have had one or more women co-founders
- Offices: HQ in Surry Hills, Sydney (NSW); office in Cremorne, Melbourne (VIC)
## Programs
- [Startmate Accelerator](https://www.startmate.com/accelerator): 14-week accelerator for ANZ founders, run twice a year as a Summer and a Winter cohort. Startmate invests AUD $120,000 at a $1.5m post-money valuation (8%) for founders who haven't raised, or matches the terms and valuation of a prior round of AUD $250k+ from VCs or angels. Founders choose a SAFE or Startmate's participation in a priced round. At least one founder must be full-time. Remote-first, with three in-person weeks: Week 0 in Melbourne, a mid-program IRL week and Demo Day week. Mentors invest their own money in the fund that invests in each company.
- [First Believers](https://www.startmate.com/first-believers): startup investing program for people who want to learn to back early-stage founders. Two days in person in Melbourne or Sydney, then two hours a week online for eight weeks. Participants learn Startmate's frameworks, review real Accelerator applications, interview founders and contribute to selection decisions. 550+ alumni.
- [Student Founder Bootcamp](https://www.startmate.com/student-founder-bootcamp): two-day, in-person bootcamp in Sydney and Melbourne for students. Participants form a team, take an idea to a first product and pitch Startmate's investment team. No prior experience needed. Top teams are offered a fast-tracked interview for the Accelerator's $120k investment.
## How Startmate selects companies
Startmate looks for "spikes" rather than an absence of weaknesses. A company needs at least one unmistakable strength across five areas: Team (ambition, determination, connection to the problem), Progress (speed of traction), Invention (a new technology or significant leap), Unique Vision, or a product that is 10x better than the alternatives.
## Key pages
- [Home](https://www.startmate.com/)
- [About Startmate](https://www.startmate.com/about-us)
- [FAQ](https://www.startmate.com/faq): common questions about the programs and Startmate
- [Portfolio](https://www.startmate.com/portfolio): every company Startmate has invested in, filterable by cohort and sector
- [Team](https://www.startmate.com/team)
- [Mentors and advisors](https://www.startmate.com/mentors): become a mentor or advisor for an Accelerator cohort
- [Invest](https://www.startmate.com/invest)
- [Partners](https://www.startmate.com/partners)
- [Get involved](https://www.startmate.com/get-involved)
- [All programs](https://www.startmate.com/offerings)
- [Writing](https://www.startmate.com/writing)
## Optional
- [Accelerator investment terms](https://www.startmate.com/writing/startmate-accelerator-investment-terms-101): full terms, including how prior valuations are matched
- [Startmate Spike Framework](https://www.startmate.com/writing/startmate-spike-framework): the five spikes, with examples
- [Accelerator application guide](https://www.startmate.com/writing/your-ultimate-guide-for-getting-through-the-first-round-of-the-startmate-accelerator): how the first round works and tips from mentors
