Startmate - March 2021 Monthly Update
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Startmate - March 2021 Monthly Update

Accelerator Fellowship First Believers Community Events About us Apply Now

Hi SM Family,

Things are in full swing!

The Women Fellowship cohort V kicked off. Demo Day for the Accelerator is in 2 weeks.

We had 3 new Startmates join the team. Pls welcome:

  1. Cameron >> Student Fellowship Associate - running our Student Fellowship Program;
  2. Bronte >> Outreach & Events Associate - running all things comms and events; and
  3. Brady >> Senior Investor Associate - running our First Believers Program.

We will also be receiving funding from LaunchVic of $1.8m and $1.25m in the SM funds over the next 2-3 years to further expand our Victorian operations.

Ask

Hiring

We’re hiring two more roles - Product Manager (Victoria) and Chief of Staff >> applications are due on Sunday! Send this to your favourite person or reshare this pls. 🙏

Demo Day

Join Demo Day - HERE - 15th April 4pm (Sydney time).

Small Bets Fund

We’re raising $1m to invest in 21 Founders all year around - if you want to hear more - hit reply and I’ll forward you the full write up!

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Startmate Goals

Extend our reach - team, outreach, events, equitable design, segmented database

  • Clubhouse “Startmate After Dark” has become a weekly event + we now have a Startmate Club - join here!
  • We’ve started raising a Small Bets Fund >> hit reply if you want to hear more!

Explicit infrastructure - copy paste program infrastructure, dashboards, FinOps

  • We’ve started creating the infrastructure to launch 10+ programs a year and find 1,000+ Fellows a year their sweet spot in startups.
  • We’ve had one of the biggest operational endeavours at Startmate happen this month with 3x interview nights with 150x Fellows and 150x interviewers.

Experiment with products - Accelerator, Fellowship (Women, Student, Eng, Founders), First Believers, City

  • Women Fellowship kicked off on Monday with 100 Fellows and 100+ Coaches + 54 Buddies (alumni!)

Good

  • We’ve finally met the full Startmate Team in person 😬 We had our Startmate offsite, which means so much to our Team as we work fully remotely.
  • The Victorian funding is 100% confirmed and public. We’ve got some big goals to hit, which will truly shape the ecosystem.
  • S21 fund is our largest fund yet with $1.95m. Even better - 31 mentors have signed up for what we call our SaaS (Startmate as a Subscription) pre-committing $4.5m in funds for the next 3 years.
  • We’ve got 11 awesome sponsors for our Women Fellowship for this cohort:
    • Brighte 💥
    • Folklore Ventures 🌀
    • Square Peg 🥳
    • x15ventures 🎉
    • Upswell VC 😃
    • Josef 🚀
    • Qualtrics 🤟
    • 5B 🌏
    • Secure Code Warrior 💃🏼
    • Who Gives A Crap 💫
    • Blackbird Ventures 💚

Bad

  • MVP First Believers cohort mid-program NPS of 45 and excited about all the feedback of things we can easily improve on.
  • Mentor mid-program NPS of 58, slowly getting better cohort on cohort (vs last cohort NPS 50) and also great feedback we’ll be leaning into.
  • Founder mid-program NPS of 76 - full feedback here - lots of goods, but there’s a big opportunity for us to create stronger intra-cohort relationships.
  • We’ve finally transferred the management fee for the NZ20 fund - an operational hiccup, just meant that we had to manage Startmate’s cashflow better.

Ugly

  • We love experimenting and trying new MVP software. Unfortunately, this month it was to our detriment. We run our interview nights, and ran our International Women’s Day event on a tool called VideoFacilitator, which we’ve always loved, but this time the tech really struggled.
  • Unable to find the right candidates for our Engineering and Talent Associate roles we were hiring for.
  • We’ve only had 10 applications for our Product Manager role >> hence we extended the deadline to Sunday >> reshare this pls!

Startmate in the News

Startmate

S21

Thanks, Team!

Your Team Startmate

+ Ryan in Auckland who unfortunately couldn't join us yet!

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