Latest in the Australian startup scene saw Menulog co-founder launch FoodByUs with AU$2 million ($1.51 million) funding, while one of the world’s most prominent startup accelerator Startupbootcamp has announced entry into the Australian market next year.
FoodByUs gets $1.51m
Menulog co-founder Gary Munitz, alongside former Menulog lead developer Tim Chandler and Flipsters co-founder Ben Lipschitz, has launched FoodByUs following a AU$2 million ($1.51 million) funding from a group of high net worth angel investors and institutional investors. The liquidity injection came in the very early days of the startup, and was used to develop the idea from scratch.
FoodByUs is a sharing-economy based food delivery service with home-cooks in the user’s neighbourhood providing the food instead of restaurants.
The startup will take a 20 per cent commission for every transaction on the platform, with contributors having to pass a test prior to selling their services, in addition to being regulated. Consumers will be required to provide a rating after each order.
Officially launched in Sydney, it plans to expand across Australia in the coming months, with its next destination market being Melbourne.
Startupbootcamp to run in Australia in 2017
Startupbootcamp, one of the world’s largest global networks of industry-focused startup accelerators, has announced it will be running in Australia in 2017 following a government grant to open up a branch in Melbourne. Startupbootcamp was awarded the best accelerator of 2014 at the European Tech Startup Awards.
The Copenhagen-headquartered firm reportedly received around AU$600,000 ($451,000) from the LaunchVIC innovation fund in order to launch its program. The accelerator provides both investment and mentorship services, in addition to accelerating startups and connecting with with corporates.
Startupbootcamp was founded in Copenhagen in 2010 and runs 13 accelerator programs in 10 countries. Headquartered in London, the firm has had 350 startups use its services, with a reported 71 per cent subsequently raising an average of $750,000.
Its Australian edition will focus on Internet of Things (IoT) and data-tech startups, with A$20,000 ($15,000) invested in 10 separate startups, who will undergo a three month acceleration programme.
Currently, it is seeking out local business partners and will eventually be selecting startups for its first batch.