Telstra-backed startup accelerator program muru-D is seeking a new round of applicants, after eight out of the nine inaugural finalists were successful in paving a “clear path for funding”.
The companies selected for the first six-month round of training and mentoring course are “graduating” from the program. They each received a $40,000 initial seed capital injection in return for Telstra taking a 6% stake in the company.
For the next four weeks, muru-D will open its doors, inviting a second round of startups to join the program.
The startups in the first round included ChattyKids, a family learning app, and FarmBot, which does real-time data monitoring on farms.
“All nine finalists are set to graduate with a significant interest from potential investors,” a Telstra spokeswoman told Business Insider.
“We can’t disclose specifics on teams’ individual investment to-date, but we’re confident it’s only a matter of time until all funding is secured which is a tremendous result for the first round of the program.”
muru-D co-founder Ann Parker said the objective of the curriculum was to improve Australia’s digital startup scene.
“Success is many things – customer numbers, revenue, number of employees, international growth – I’m delighted to say that every team can point towards these growth metrics,” Parker said.
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