Thursday, June 22, 2017
Monday, June 19, 2017
BSI Is proud to have been a part of the amazing journey that Australia has been on, in building our future and nurturing our innovators!!
There is still heaps to do , and we look forward to continue to being part of the journey.
Sunday, June 18, 2017
Wednesday, June 14, 2017
Greg Moshal & Beau Bertoli, founders and joint executive officers, Prospa
Fintech organisation of the year
Female fintech leader of the year
Male fintech leader of the year
Emerging fintech organisation of the year
Emerging fintech leader of the year
Tuesday, June 13, 2017
The fund will invest in technology startups and spinouts from Csiro’s network, Australian universities, other publicly funded research agencies as well as SMEs.
Friday, June 09, 2017
“We get a lot of growth through referrals and word-of-mouth, and we focus on creating a great experience for people who are renting out their car or borrowing cars, so that we continue to see this organic growth”.
Wednesday, June 07, 2017
Tim Draper is the kind of Venture Capitalist and human that makes you leave a conversation, thinking
‘Damn, I want that guy as an investor in my Company’.
After being pitched the ‘big picture’, beyond the ‘what’ and the ‘how’, and he can visualize the infinite potential of a good idea, what Tim looks for when investing is the Passionate Entrepreneur.
The Entrepreneur needs to burst with a burning desire about why this needs to be done (beyond monetary gains).
Has the Entrepreneur got the ability to enthuse, engage and inspire both the investors and his team to join him on his journey.
All too often, the VC partner invests, and although he or she may have huge value to add, all to often a crummy associate is placed as the new CEO. The Entrepreneur is thrown out along with prospects for the future of the company.
As companies transform products and services according to marketplace demands, it is all about an entrepreneurial burst of ‘why’ behind this ‘big idea’.
‘If this happens, if this keeps going, then what…’
The body of the company grows with the entrepreneur beating as the heart centre. All great enterprises have felt the pulse of an entrepreneur from the very beginning. VC firms should reject any risky disruption to their flesh and blood, throwing out any powerful ‘distraction’ of an Entrepreneur with a vision.
What's been your biggest mistake?
The biggest mistake - says Tim, was not making the seed investment in Google when Sergei came to pitch, because they had invested in something similar. The lesson - as a VC , I would rather lose 1X my money than lose the opportunity to make 10X my money.
Likewise, there is limited growth potential in this mindset of failing to act, not pushing through. The policy of a successful Venture Capital firm is entrenched in failure: otherwise you are not pushing it.
“I expect to fail more than 50% of the time. If I do this, I am doing really well. If I don't - I need to question whether I am in "the Venture Capital Business" - and we should be pushing the envelope further.”
What are you looking to invest in?
We are looking at Marketplaces, as we create new industries with new technology that will improve efficiencies bring down costs and increase customer service .
Uber, Aurtasker, my recruitment plus, Airbnb and Bitcoin.
Industries with high costs and poor customer service will be need to be rewired for efficiency. Industries such as Government, banking, VC and Healthcare. How will technologies such as Bitcoin and blockchain disrupt them?
New technology comes in like a wave, and everything is affected - we should not resist these changes despite the apparent disruption.
There was a high mortality rate of companies that resisted adapting to the Internet.
The secret is about finding and investing in ‘the new Internet’, whatever this technology may be, to disrupt markets and envision where will you be in 5 years, 10 years and 15 years out. How will your technology change the world?
Examples of disruptive technologies
Computer, mobile, email, Internet, Social Media, Bitcoin, Blockchain?
Companies taking advantage
Intel, IBM, Microsoft, hotmail, google, Facebook .... wh
Where do you invest?
The hub is no more Silicon Valley - it is global - in fact Australia has a competitive advantage as it can test its technology in a relatively friendly marketplace before venturing offshore. That is why I am so excited about expanding the Draper Network.
Pitch them the big thing !!
Tuesday, June 06, 2017
TBS: Good Morning, Alec. Can you please tell our readers a little about your background, and how you became the CEO of DesignCrowd?
AL: Good Morning. Before I started DesignCrowd, I was working as a strategy consultant at Booz Allen Hamilton (now called Strategy&). I had the idea for DesignCrowd while I was at Booz and I knew immediately that I was onto something. I could see a number of challenges and opportunities within the traditional design industry. In particular, for businesses looking for to buy design, whether that be a logo design or a website design, using traditional agencies was an expensive, slow and uncertain process. At the same time, for creative people looking to work in the design industry, it was extremely difficult to break into and find work. There were hundreds of thousands of talented designers around the world who had graduated, but weren’t able to find work or were living in emerging economies and looking to find customers in Australia or the US.
One thing I saw in 2007 (which crystallised these challenges and the opportunity), was the logo for the London Olympics. This logo was launched that year and it was revealed to cost over £400,000 to design and took one whole year to develop.
It received a terrible response from the public, the media and designers around the world.
I knew that there had to be a better way, I knew that traditional design was ripe for disruption and after researching the $54 billion global design industry, I could see the opportunity was huge.
Once my co-founder Adam Arbolino built the first prototype for the website, I quit my strategy consulting job, moved back to my family home and started working full time on DesignCrowd in September 2007, before launching the site in early 2008.
In 2009, we received $0.3 million from Angel Investors and have since raised a further $12 million in venture capital. Today, DesignCrowd has 50 staff across offices in Sydney, Manila and San Francisco, has over half a million registered designers and almost $20 million in revenue generated each year.
What is the one thing you wish clients would understand about DesignCrowd the first time they may connect with you?
DesignCrowd customers are often entrepreneurs and small business owners who are bootstrapping and sometimes worry about paying upfront for design. While we do take money upfront, this gives our designers confidence the customer can pay them.
We also have a money back guarantee policy to protect businesses. If you don’t get a design you want, you can ask for new ideas (we have over half a million designers) or you can just request a refund!
What has been the toughest obstacle for DesignCrowd to battle since you launched?
One of the biggest obstacles we faced when growing the company was raising capital within Australia. This is not an easy thing to do by any means, because there are fewer VC funds here than the US and typically they are much smaller.
To date, we’ve managed to raise over $12 million of capital, all from Australia. We’re particularly proud of the fact that we’ve been able to attract great local investors like Starfish Ventures and AirTree Ventures.
How do you manage your own schedule, do you have any daily rituals you could share with us?
My schedule is different each week but I do have a few habits that help me stay organised and at my best. I manage a rolling to-do list, which I take with me everywhere, and I like to exercise 3-to-5 times a week.
What would be your main piece of advice for aspiring CEO’s/entrepreneurs?
My advice to aspiring entrepreneurs is this: start today. Many people have great ideas, but most spend too much time talking about their ideas, rather than taking action. Taking any action, no matter how small, is the first step in translating your business idea from a dream into reality. The only difference between a wannabe entrepreneur and an entrepreneur is action.
Ask yourself this question: how would you feel if tomorrow, you read an article about someone else who launched your business idea and raised $1 million in funding? If the answer is “terrible,” then you need to start today. You need to know that this happens all the time. Write up a business plan, do some research, get a logo, buy a domain.
Just do something and get started!