NRMA accelerates startups with Jumpstart
- 29 September, 2014 09:52
The National Roads & Motorists’ Association (NRMA) is the latest large organisation to engage with Australian startups, launching an accelerator program called Jumpstart.
NRMA has announced a partnership with Slingshot Accelerator for a 12-week program that will identify and mentor startup and scale-up businesses. Each successful applicant will receive $30,000 in seed funding, a workspace in Sydney or Newcastle, training and mentorship, and access to NRMA’s 2.4 million members.
The program is supported by Artesian Venture Partners, UTS Business School, the University of Newcastle, PricewaterhouseCoopers and Sparke Helmore Lawyers.
“Jumpstart is about finding and growing innovative business ideas with a particular focus on smart new digital services,” NRMA Group CEO Tony Stuart said in a statement.
“We want smart thinkers that need help launching their business idea, we want ideas that can be cultivated and converted to provide future Member services and benefits and we are prepared to put our money into helping these businesses grow.”
The program has open spaces for 10 startups and four scale-up businesses. Stuart said NRMA is seeking business concepts with four themes specific to its members: “Smart Services”, “Connected Cars”, “Connected Members”, and “Member Lifestyle”.
NRMA is one of several large Australian enterprises looking to startups to spur innovation within their organisations. Other examples include Telstra (muru-D), Optus (Innov8) and ANZ Bank (Innovyz).
“NRMA sees itself as a facilitator, nurturing business concepts and small businesses that have a very real potential to be commercially and strategically relevant in the future to our Members,” said Stuart.
“We are offering startup and scaleup businesses a package of intellectual and financial benefits to progress their idea to a bigger scale.”
The program goes from 1 December to 12 March. Applications open on 29 September and are due by 14 November.
NRMA will have four road show presentations from 14 to 17 October in Sydney, Melbourne, Brisbane and Newcastle. Details can be found on the NRMA website.