Startups in Australia now have a new way to attract investment. KPMG and Artesian venture partners hav announced a new structure of support and capital for burgeoning businesses.
The program is said to bring together Artesian, KPMG Australia, universities, incubators, technology startups and investors.
It is claimed the partnership will offer offer Australian corporates, superannuation funds, and industry bodies an opportunity to be exposed to the Australian startup ecosystem and innovation; increase mergers and acquisitions activity with Australian entrepreneurs; engage with a pipeline of scalable, high growth businesses, as well as accelerators, incubators and universities; offer bespoke services to the startups with KPMG as the exclusive professional services provider to Artesian; host regular events to foster and promote the local startup industry; and analyse data and develop research models to better understand the growing sector and its future direction.
Artesian Partner and chief operating officer, Tim Heasley, said the Australian technology centre has been finding its feet and growing rapidly.
“But, it’s time for the startup industry to mature, to operate with a new level of professionalism without losing its edge. We need to mobilise, professionalise, and build a cohesive structure around the industry to take it to the next level.”
“The alliance with KPMG will allow the engagement of corporates in the startup ecosystem as customers, partners or potential acquirers and will help startups and technology become a substantial industry, as we move away from a reliance on mining and resources,” he said.
The investment management firm has a unique co-investment model allowing it to quickly scale up its investment portfolio. Artesian said this is done by outsourcing the selection, mentoring and due diligence of start ups to specialist partners, accelerators, incubators, university programs, angel groups, research institutes and even digital agencies.
Artesian currently manages co-investment funds for Sydney Angels, BlueChilli, ilab (University of Queensland), iAccelerate (University of Wollongong) and Slingshot (Newcastle).
KPMG Australia head of innovation, Martin Sheppard, said the alliance has the potential to contribute upwards of $1 billion to the Australian economy in the next 20 years.
“Proactively engaging with Australia’s startup ecosystem is critical to our innovation strategy. It will expose us and our clients to new growth opportunities; provide early insights into emerging and disruptive technologies, and help us and our clients stay ahead of the curve. Combined with our Fintech work and other initiatives to be announced over coming months, it will position KPMG as an authority in this dynamic sector.”