About this programme
Startmate runs a 12-week accelerator for early-stage startups in Australia and New Zealand. It's a hybrid program: three mandatory in-person weeks (Melbourne at the start, plus a mid-program reset week and the Demo Day finale) with the rest of the program run remotely, so founders don't need to relocate for most of it.
Every company accepted into the cohort receives an AUD $120,000 investment from Startmate, structured as either a SAFE or a priced equity round, at the founder's choice. Startmate describes the terms as fixed and public — no hidden hooks beyond the stated valuation terms.
The program is industry-agnostic: cohorts have included ed-tech, health-tech, prop-tech, climate-tech, space-tech, fintech and legal-tech companies. It's also stage-agnostic on revenue — Startmate states 67% of admitted companies had no revenue at the time of application, and idea-stage or pre-MVP founders are explicitly welcomed.
Startmate's differentiator is its mentor network: 4,000+ ANZ founders, operators and investors, many of whom are also partners in the fund that invests in the cohort, so mentors have capital riding on the companies they advise. The program ends with a Demo Day pitched to 1,000+ investors and operators, and a subset of the cohort travels to San Francisco afterward for meetings with US VCs.
How it works
Week 0 (in-person, Melbourne) — cohort bonding, goal-setting and establishing each company's vision alongside Startmate mentors.
Weeks 1–10 (remote) — "customer obsession" phase: intensive customer validation work aimed at product-market fit.
Week 7 (in-person) — a mid-program reset week for strategy realignment, narrative development and fundraising prep.
Weeks 11–12 (in-person) — investment-readiness work culminating in Demo Day, pitched to 1,000+ investors and operators.
Finale (San Francisco, select founders) — a subset of the cohort travels to the US for VC meetings, pitch teardowns and further fundraising introductions.
Every company in the cohort receives the same AUD $120,000 investment, taken as a SAFE or a priced equity round at the founder's choice.
Who can apply
Open to startups based in or building for Australia and New Zealand. The program is industry-agnostic — no sector is excluded.
No revenue minimum: Startmate states 67% of the current cohort had zero revenue at the point of application, and idea-stage or pre-MVP companies are accepted.
Already-funded startups can also apply. For companies that have previously raised a minimum of AUD $250,000 from VCs or angel investors, Startmate will match the valuation and terms of that prior round rather than applying the standard first-time-founder valuation — this requires executed investment documents (a SAFE, subscription agreement or term sheet) to be shown before the interview stage.
First-time fundraisers (no qualifying prior raise) are invested in at a $1.5M AUD post-money valuation for the $120,000 cheque.
How to apply
- Stage 1 — Online application plus a 90-second video, taking roughly an hour to complete. Each application is reviewed independently by at least three mentors, who assess the founder's connection to the problem, the scale of ambition, and evidence of customer engagement.
- Stage 2 — A one-hour remote interview with 3-4 mentors and a Startmate team member, going deeper on the product, vision and any open questions from the written application.
- Applications for the current cohort close November 8, 2026, ahead of the program running January 25 – April 29, 2027.
Documents you’ll typically need
- For startups seeking valuation-matching on a prior raise: executed investment documents (a SAFE, subscription agreement, or term sheet) proving a minimum AUD $250,000 was raised from VC or angel investors.
Frequently asked
How much does Startmate invest, and on what terms?
AUD $120,000 per company, structured as either a SAFE or a priced equity round — the founder chooses. First-time fundraisers are invested in at a $1.5M AUD post-money valuation.
Do I need revenue or a finished product to apply?
No. Startmate states 67% of the current cohort had no revenue when they applied, and idea-stage or pre-MVP companies are explicitly welcomed alongside more developed startups.
What if my startup has already raised funding?
Already-funded startups can apply. If you've previously raised at least AUD $250,000 from VCs or angel investors, Startmate will match the valuation and terms of that round instead of the standard first-time-founder valuation — you'll need to show executed investment documents (SAFE, subscription agreement or term sheet) before the interview stage.
Do I have to relocate to Melbourne for 12 weeks?
No. Only three weeks are in-person (the opening week in Melbourne, a mid-program reset week, and the Demo Day finale) — the remaining weeks run remotely.
What does the application process involve?
Two stages: a written application with a 90-second video (about an hour to complete, reviewed independently by at least three mentors), followed by a one-hour remote interview with 3-4 mentors and a Startmate team member.
When does the next cohort run and when do applications close?
The current cohort runs January 25 – April 29, 2027. Applications close November 8, 2026.
Is Startmate open to companies outside a specific sector?
Yes, the program is industry-agnostic — past cohorts have included ed-tech, health-tech, prop-tech, climate-tech, space-tech, fintech and legal-tech companies.
Reviewed 2026-08-16. Programmes change — confirm current eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private consultancy and is not affiliated with any government authority.