Slingshot. Where tenacious entrepreneurs turn killer ideas into remarkable companies.

Slingshot is a high tech accelerator that provides seed funding, a dynamic co-working space, and a 12-week mentoring program that nurtures skills and relationships to enable entrepreneurs to build a remarkable company. More about the accelerator.

Frequently Asked Questions

What is Slingshot?

Slingshot is a high tech accelerator that provides seed funding, a dynamic co-working space, and a mentoring program that nurtures skills and relationships to enable entrepreneurs to build a remarkable company. It’s where tenacious founders turn killer ideas into remarkable companies.

What is Slingshot looking for?

Great team

2-3 committed founders with some technical and design talent and business acumen. If you are a solo founder we recommend you find others who are as passionate as you are. We do have relationships with great people seeking founder roles but ideally its your team from the start.

Killer product

We are looking for great products that involve the following themes:

• Education
• Financial Services
• Health
• Online distribution and marketing
• Social
• HR and recruitment
• Mining and industrial software
• B2B enterprise level software
• Communications
• Combined hardware and software offerings
• Apps (it would want to be very very good).

 

The above list is what we know and are interested in. Does it mean that we are not interested in your startup applying for the program? The answer is “no”. Your job is to make it hard for us to say we are not interested.

Your product needs to solve a real problem

We are looking for products that solve real headaches for people. Ideally these are migraine sized headaches. The best products evolve from a solution to a problem you have lived with and have had enough of. The product needs to be something that real people want, not just uncle Fred and Steve from work. You must have a scalable online distribution method and simple revenue model and if you had a small number of customers and some metrics that would be handy.

We need to be able to influence outcomes

We make investments in companies who can be efficient with capital. $50K is not going a long way if you have a $1M monthly payroll or need $5M to build a factory.

Monster sized market

Sure, you need a big market to make lots of revenue. More importantly a big market gives you the ability to test your product quickly, gain ridiculous numbers of users and scale exponentially. A niche in a big market is fine as long as its not focused on the 110 year old plus demographic.

Is the program open to applicants outside the Hunter?

Yes we welcome entrepreneurs to from everywhere to apply. You will need to be available from May to July to attend the program in Newcastle

 

My company has good traction already can I apply?

Yes. We are interested in what we call Upstarts companies that already have an product and revenue or other good traction metrics

 

If I am shortlisted what should I prepare in advance?

You will need to Pitch on the 16^th or 17^th of April. You pitch should be 20-30 mins long. There are plenty of examples of good pitch decks and expectations on the web. If you have a demo of your product make sure you show it. You should expect the same time for questions. Basically you’ll be in and out of the process in an hour.

Can I continue to work on my startup while in the program?

The obvious answer is yes, we want you out of the building engaged in customer development and refining your business model and building your network. You can budget about two days a week of content and the rest focused on building your company outside of the building.

Can I do the program part time?

While we can be flexible. Building your company is the priority and a full time gig. So a part time approach is destined to failure.

Does Slingshot invest in its accelerator companies?

Yes, every startup accepted into our accelerator program receives an investment of up to $50,000 for initial 5-10% equity.

Does it cost money to participate in the accelerator program?

Nope, nothing.

How do I apply for the accelerator program?

Apply here.

Where is Slingshot located?

We are located in Newcastle NSW. Why? Watch this. ‘Nuff said.

Where is Slingshot's space?

We are at 28 Honeysuckle Drive, Newcastle. 5 minutes from the beach.

When is the deadline to apply for the 2013 Accelerator intake?

12 April, at 11:59PM AEST.

What is the timeline for the application process?

• Applications are open from 6 March at 9:00AM AEST until 12 April11:59PM AEST.
• If you are shortlisted you will be required to give a pitch and suffer an interview the week of 15 April.
• Day 1 of the program is scheduled for 6 May.

When does the Accelerator program start and finish?

The program is scheduled to run from 6 May to 26 July.

My idea is in stealth mode, will somebody steal it if I apply?

Ideas are everywhere, there’s probably 100 people working on your idea right now with better teams and more funding. Its all about execution – that’s where we can help. The bigger problem is nobody caring about your idea at all.

Can I meet with Slingshot and enhance the chances of being accepted?

Generally the answer is “no” unless you apply via the application process. We do sometimes make investments outside the Accelerator program. See next question.

Does Slingshot make investments outside the program?

Occasionally we do. We will probably push you to apply for the program.

Does Slingshot make follow on investments in the accelerator program graduates?

Yes. We aim to make follow on investments in Slingshot Alumni in further rounds generally as a co-investor.

I’m not too sure I’m right for an accelerator program?

Maybe so. Accelerators are not for everyone. Maybe you are happy to bootstrap your idea for the next few years and see how it goes. We aim to make you a success or failure quickly so you don’t waste the rest of your life stewing over your great new idea. If in doubt, apply.

What’s the accelerator program like?

Intense, 12 weeks is not a long time. You be housed together with up to 10 startups in our offices in Newcastle. You will be immersed in the 12 week program and be exposed to the best mentors to help and guide you. Critical appraisal is a big part of the process, we are not a cheer squad. You will be exposed to our investors, partners, sponsors and media. We have set piece events during the program and demo days in Australia and the USA at the end of the program. We won’t kick you out at the end of the program; if you we feel you need more time to get your product and pitch right you will have access to 6 months of office space. At the end of the program we aim to co-invest in all of our Alumni’s next funding rounds.

Why should I apply to the Slingshot Accelerator Program?

Mentors

Our program is driven by our mentors. These are people who have been there and made the mistakes you are about to make. They have the one little idea that can help you get to product/market fit and know the right person to talk at that large customer you are after. We have a set of hands-on mentors that will provide the learning components of the program and a network of mentors that are specialists in your niche.

Investment

Money is important. It generally determines the length of the runway to get your company off the ground and sustainable. Sure, we will invest upfront to get you started but our aim is to do follow on investment in later rounds to really turn your company in to a global one. Our network of investors both here and internationally are ready to invest in great companies.

Sponsors and Partners

Something often overlooked is acquiring great business relationships in your startup early. Often legal and financial services are out of the reach of most startups. If your company is not structured to succeed from the start you are up against it. Our sponsors and partners are supportive and interested in you succeeding.

Branding and Media

While social media is a key part of your strategy, building a strong brand and significant PR is critical. Branding is what we know, we have strong relationships with traditional media and PR firms. Our relationship with Fairfax and our Valley to Valley project is a good example of the sort of PR you can expect from being part of the Slingshot program.

What is Slingshot looking for?

Great team

2-3 committed founders with some technical and design talent and business acumen. If you are a solo founder we recommend you find others who are as passionate as you are. We do have relationships with great people seeking founder roles but ideally its your team from the start.

Killer product

We are looking for great products that involve the following themes:

• Education
• Financial Services
• Health
• Online distribution and marketing
• Social
• HR and recruitment
• Mining and industrial software
• B2B enterprise level software
• Communications
• Combined hardware and software offerings
• Apps (it would want to be very very good).

 

The above list is what we know and are interested in. Does it mean that we are not interested in your startup applying for the program? The answer is “no”. Your job is to make it hard for us to say we are not interested.

Your product needs to solve a real problem

We are looking for products that solve real headaches for people. Ideally these are migraine sized headaches. The best products evolve from a solution to a problem you have lived with and have had enough of. The product needs to be something that real people want, not just uncle Fred and Steve from work. You must have a scalable online distribution method and simple revenue model and if you had a small number of customers and some metrics that would be handy.

We need to be able to influence outcomes

We make investments in companies who can be efficient with capital. $50K is not going a long way if you have a $1M monthly payroll or need $5M to build a factory.

Monster sized market

Sure, you need a big market to make lots of revenue. More importantly a big market gives you the ability to test your product quickly, gain ridiculous numbers of users and scale exponentially. A niche in a big market is fine as long as its not focused on the 110 year old plus demographic.

Will you make me star in a zany video or slide down a slippery slide, will there be lots of flash mobs?

No, we are here to work and when we play we prefer to play hard.

How can I become a mentor?

We recognise we don’t know everyone, if you think you have valuable skills that will benefit our startups go to our mentor application page and apply. We have two groups of mentors. The first are a hand picked team that that delivers face to face content and works with our companies on an intimate basis. The second group are a global pool of mentors with a niche set of skills and contacts that can help our company’s breakthrough road blocks because they have been there and done that.

Applications are OPEN NOW until 12 April 11:59PM AEST. Submit your application here.

Slingshot Announces 2013 Intake

Slingshot the Newcastle based high tech accelerator is pleased to announce its 2013 intake.This intake has 8 outstanding companies ready to take on the world.

The program will run for 12 weeks with a demo day planned for late August, where the community and investors will get to see the companies showcase their ideas.

The companies were chosen from close to 150 applications with 50% of the entrepreneurs coming from the Hunter Region and the rest predominately from Sydney. Slingshot also received a number of international applications.We were completely overwhelmed with the quality of applicants for our first intake and credit the strength of the local start up community and the local ecosystem with fostering such great ideas. Getting down to the final number was not an easy task. “We were completely overwhelmed with the quality of applicants for our first intake and credit the strength of the local start up community and the local ecosystem with fostering such great ideas. Getting down to the final number was not an easy task” said co-founder Trent Bagnall.

The diversity of companies include an online automated music collaboration website, a recommendation website with professional sports data, a news aggregation provider and a mining services business.

Some of the back grounds of the entrepreneurs include an FA-18 fighter pilot, a 16 year old whiz kid, two brothers who are extreme sport athletes, a trio of talented musicians, an ex corporate lawyer plus the usual hustlers and hackers.

The program has grown into reality due to the contribution of Slingshots foundation partners who include, PWC, Sparke Helmore, Fairfax media, the University of Newcastle, The Hunter TAFE and Newcastle innovation.

“Slingshot has quickly established itself in the start-up space attracting a high level of quality companies to its seed funding program. PwC are excited to partner with Slingshot and we look forward to tracking the continued progress of this innovative project,” says Ms Stephanie Fabian, PwC Director.

Together with a high quality of sponsors and entrepreneurs, Slingshot has an enviable collection of mentors that are helping guide and shape the companies.

Meet the 2013 Intake below

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