Heaps Of Start-Ups Couldn't Move To Adelaide, So ANZ Innovyz START Has Expanded To Sydney

Sydney Photo: Getty Images

Accelerator program ANZ Innovyz START is expanding, opening to four Sydney companies as well as additional businesses in Adelaide.

Applications have been extended from the original date in late November to 9 December to allow more teams to apply.

The program provides mentors and funding to Australian start-ups. Companies receive a $20,000 stipend from the program, access to a $20,000 unsecured loan from ANZ and up to half an million dollars worth of training and assistance.

In return ANZ Innovyz START takes an 8 per cent stake in the businesses which graduate.

Originally launched in Adelaide, the program has been expanded as so many start-ups are based in Sydney, said program director Jana Matthews.

“I had people email me and call me asking when are you going to offer this in Sydney,” Matthews said.

Many businesses which would have been suitable for the program were founded by people with young families who were unable to move. “We had that over and over again.”

The Sydney extension of ANZ Innovyz START is being hosted by Regus, the global worklace provider. Regus is hosting the program in its flagship business centre in Darling Harbour.

What is the fourth round of the ANZ Innovyz START program will run across both cities simultaneously from 10 February – 9 May 2014.

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