SEVEN foreign companies are bidding for a spot in a three-month course designed to boost start-up success.
Program director Jana Matthews (pictured) says the immaturity of the Australian start-up scene shows up in the lack of returnees – the same people whose experience can smooth the way for new ventures.
“We don’t have the business people, the lawyers or accountants who have taken companies public over and over and over again,” she says. “The whole infrastructure is immature.”
Sydney start-up incubator Pollenizer last month teamed with Deloitte to measure Australia’s start-up ecology and found only 4.8 per cent of new businesses scaled up to sustainable profitable businesses.
The report also found the global capital of start-ups, Silicon Valley, was 6.7 times larger than Sydney, while Australia’s other recognised hubs – Melbourne, Brisbane and Perth – had 65 per cent to 13 per cent of Sydney’s pulling power.
Matthews, who has been closely connected with the US’s second-largest start-up space in Boulder, Colorado, says the Innovyz START program will take its second round in January with a firm eye on global candidates.
In 2005, Simply Soups bet on a technology startup that promised to slash the soup maker’s cleaning and disinfection costs with little more than sodium chloride the main ingredient in table salt and water. The pitch: Install the startup’s machine onsite and use the solutions it generates to sanitize the factory’s lines and tanks rather than truck in chemicals.
The startup, called Trustwater, produces a detergent and a disinfectant powerful enough to destroy any microbe. Its devices build on a decades-old invention involving passing electricity through a salt solution. The process, known as electrochemical activation, was developed by Russian scientists in the 1970s to treat drilling fluids in the oil and gas industries in Uzbekistan.
For Simply Soups, which produces 150,000 liters of all-natural stock each week in its factory in Ireland, near Dublin, installing Trustwater’s unit meant it could forego the expensive chemical it had relied on for sanitizing its equipment. And because Trustwater’s solutions work at ambient temperatures, Simply Soups didn’t need to spend time or money heating them. Another bonus: Trustwater’s disinfectant doesn’t need to be rinsed off. “We have cut our production costs by reducing the water consumption and chemical use,” says Barry Brophy, Simply Soups’ plant manager.
Strange Random Salt Quote:
“Let yourself be open and life will be easier. A spoon of salt in a glass of water makes the water undrinkable. A spoon of salt in a lake is almost unnoticed.” – Buddha (Hindu Prince Gautama Siddharta, the founder of Buddhism, 563-483 B.C.)
- Staying Healthy While You’re Away on Study Abroad: Don’t Drink the Water?!? (education.com)
- Apache Acorn Soup (indiancountrytodaymedianetwork.com)
- Olympus Introduces New Peracetic Acid Solution for Rapid High-Level Disinfection (prnewswire.com)
- 3 Soothing Ways to Use Therapeutic Sea Salts (bellasugar.com)
- Green Chili Cheesy Potato Soup (fitnessfoodandwhateverelse.wordpress.com)
- Tranquil Body Treats bath salts and salt scrub review (lipglossismylife.com)
- Health Department encouraging restaurant owners to make greener choices ()
- Recipes for Health: Vegetable Soups, Smooth and Hearty – Recipes for Health (nytimes.com)
Forget free iPads, stock options and the other perks Internet companies dangle in front of prospective hires. In the technology industry‘s ongoing war for talent, Google, Facebook and a handful of deep-pocketed firms are using a more potent weapon to get the best engineers: the “acqui-hire.” An “acqui-hire” is when a company buys a startup to obtain the startup’s team, rather than to own its products or technology, which it often kills after the purchase. In the past year, the venture capital flowing into the tech startup space has spawned a wave of small companies that is siphoning talent away from larger Internet firms.
Faced with a shortage of engineers, large firms are going on startup buying-sprees and using the founders and engineers they pick up to fill high-level positions.
Strange Random Hiring Quote:
“Hire people who are better than you are, then leave them to get on with it . . . look for people who will aim for the remarkable, who will not settle for the routine.” — David Ogilvy
- The acqui-tail (gabrielweinberg.com)
- 13 Startups Facebook Acqui-Hired For Millions Of Dollars (businessinsider.com)
- Facebook Exec Canned For Insider Trading Lands Similar Gig At Twitter (businessinsider.com)
- Google’s Perennial Hiring “Problem” — The SAIcast Discuss (businessinsider.com)
- Zynga Makes 14 Acquisitions in 12 Months (mashable.com)
- Sequoia defends its infamous “RIP Good Times” presentation (venturebeat.com)