4 startups from Ilab’s Germinate 8 program pitched to a full house of over 100 business professionals, investors and entrepreneurs in the majestic Long Room of Brisbane’s Customs House. The Germinate pitches were soon followed by two teams, Movus and Redback Technologies who participate in ilab’s Incubate program each of which provided great insight into their capital raising experiences in Australia.
Paul Martyn, Deputy Director-General, Strategy and Innovation, opened the pitch night by highlighting Queensland’s Advance Queensland initiates and the support for the startup ecosystem in Queensland.
As noted by many of the mentors during the course of the Germinate 8 program, the teams formed a unique and diverse spread of ideas, experience and industries spanning divorce, the music industry, agriculture, and pet wellness.
Evorce’s co-founder kicked off the pitching event showcasing a new and innovative way to facilitate the challenges people face during a divorce. Andrew and Bill Wight both have deep industry experience in their fields of expertise in UX/UI design and mediation, respectively. During the 12 week Germinate program Evorce delivered measurable results and insightful data gained from speaking directly with customers which allowed Andrew to clearly articulate the problem, their value proposition and unique solution in an almost “Steve Jobs” like manner.
Next up was Gabor from 50DMC. 50DMC’s business model, being a multi-sided market, has some important nuances between musician, filmmakers and fans. Gabor, with 15 years film industry experience clearly demonstrated his knowledge, articulated the pain points of each customer segment and showcased 50DMC’s unique solution.
Agalytics, co-founded by Andrew Brewer, Greg Laure and Cambell Smyth, consists of a strong team with deep industry insight. Agalytics’ pitch demonstrated the team’s ability to develop a sensor that allows farmers and agronomists to measure soil quality significantly cheaper, quicker and with a higher degree of accuracy. Agalytics aims to develop their unique IP for a global market to solve the significant problem of soil degradation that is affecting us all. With FoodTech being a key topic on many people’s agenda, Agalytics is operating in an extremely exciting space within the startup ecosystem.
To close the presentations for the Germinate 8 cohort, Vet Suite Technologies presented a flawless pitch about their new product, Chirp. Vet Suite Technologies have developed Chirp to assist vet practitioners and pet owners with patient care, compliance, standardisation and simplification of patient information. All in all, a significant problem that resonated with all the pet owners in the crowd.
Brad Parson, Movus’ CEO, was next to present about his journey and experience about capital raising in Australia. He shared some of the most challenging moments as well as some of the best lessons learned. This was incredibly valuable for any startup looking to travel the well worn path of capital raising.
Philip Livingston, Redback Technologies’ CEO, spoke about the issues facing anyone that has installed solar and how Redback have designed a unique technology and approached the problem solving from a design focus. This allowed them to build a better product to solve the challenges of using solar power where it’s generated, when you need it. Phil also spoke about Redback’s capital raising journey and plans for the future which included cutting edge technology and alliances with significant global distribution partners.
After the final pitch the networking event kicked off with a sense of occasion lent to it by the Victorian architecture and grand Corinthian columns of the Chamber of Commerce’s heritage building.
The startups and audience had a chance to meet and mingle under the high domed ceiling of the Long Room and discuss, in more detail, their products and plans for future expansion.
The 4 graduating teams of the Germinate 8 cohort and the two teams of the Incubate program have made significant progress over the last 12 weeks. These founders and businesses will venture out of ilab and into a thriving, energetic and rapidly growing startup ecosystem supported by local, state and federal government. With this level of energy and support it has never been a better time to be a part of the startup ecosystem.