Who is BlueChilli?
BlueChilli is Australia’s largest startup accelerator, bringing together entrepreneurs and industry partners to build impactful, investable global startups. BlueChilli has invested in and built over 120 startups already and achieved a portfolio value of over $500M including 3 exits and 1 IPO. We are providing a proven framework for Stockland to collaborate effectively with startups to identify and invest in new growth opportunities. You can read more about BlueChilli here.
Who is Stockland?
Stockland is one of the largest diversified real estate groups in Australia with $18.2 billion of real estate assets. Stockland is Australia’s largest community creator covering the whole of life housing solutions. We own, manage and develop retail town centres, workplace and logistics assets, residential and retirement living communities. Our vision is to be a great Australian real estate company that makes a valuable contribution to our communities and our country. Founded in 1952, today Stockland leverages their diversified model to help create thriving communities with dynamic town centres where people live, shop and work.
What is PropTech / ReTech?
PropTech or ReTech refers to technological innovations for the property and real estate industries.
Why is Stockland running an accelerator?
The Stockland Accelerator adds another dimension to Stockland’s innovative approach. We know that technology is available now to create new opportunities for our business, and we want to collaborate with innovative thinkers to bring these opportunities to life.
What ideas are suitable for the program?
The goal of the Stockland Accelerator is to fund, build and launch successful tech startups. There are six theme pillars of the Stockland Accelerator: communities, retail, residential, retirement, workplaces and the property industry as a whole. These themes could guide your thinking, and we’re open to any idea as long as it leverages technology to grow a valuable and scalable company.
What is a tech startup?
Tech startups harness the power of technology to realise a solution or idea. The Stockland Accelerator is looking for ideas that utilise technologies from simple web applications to AI and machine learning - and everything in between. We are encouraging and empowering problem-solvers to create a positive impact with little more than a big ideas!
Whether it’s leveraging a network, community or customer base, utilising insights from data to provide personalised, powerful and valuable experiences, or automating the way products, customers and information are moved and shared, the opportunities are endless.
Do I need to have a business set up already?
You do not need to have a business set up to apply to the startup accelerator. In fact, the Stockland Accelerator program is best suited to entrepreneurs with early-stage ideas that will benefit from validating their idea before spending money on setting up a company structure. As part of the program, we will help you set up your business.
Do I need startup experience to apply?
You do not need to have a team, a product, or previous startup experience to apply for the accelerator. We value problem-solvers from everywhere in Australia and New Zealand with different working backgrounds and from all different ages, cultures and perspectives. BlueChilli provides participants with the startup resources they’ll need help to build and launch their startups.
I already have a startup, can I apply?
Sure! If you’re an early stage (pre-seed) startup you’re more than welcome to apply with your idea to the Stockland Accelerator program. We love ideas from napkin to prototype and everything in between.
Who can apply?
We value problem-solvers from everywhere in Australia and New Zealand with different working backgrounds and from all different ages, cultures and perspectives. BlueChilli provides participants with the startup resources they’ll need help to build and launch their startups.
Key dates - what are the key commitments?
25 September 2018 - Applications open
22 October 2018 - Applications close
12-27 November 2018 - Startup Bootcamp
28 November - Selection Showcase
14 January-19 July 2019 - 6 Month Accelerator Program
1 May 2019 - Product Demo Day
16 July 2019 - Investor Showcase
What is the application process?
You’ll need to submit a written application via Typeform with 12 questions about your idea. This is followed by a two-week bootcamp for finalists and an in-person pitch for final placement into the accelerator program.
How are applications assessed?
After applications close, ideas are screened for eligibility, with evaluation broadly based on the problem, the opportunity, and the team. We look for the strongest applications that can demonstrate why their idea represents a real opportunity, that the right time for execution is now, and that they are the best person to make it happen.
From hundreds of applications, up to 40 finalists will be invited to participate in a two-week bootcamp in Sydney where they will be challenged by the startup experts from BlueChilli on the feasibility and viability of their ideas. Founders who successfully complete the bootcamp and demonstrate the right characteristics will then pitch to a selection committee consisting of BlueChilli and Stockland representatives for one of 15 places in the program.
What happens if you’re selected as a finalist for the bootcamp?
Entrepreneurs/teams will be invited to take part in a rapid two-week bootcamp in Sydney where they’ll learn about startups, validation, pitching, business models, growth and many other topics to help them get more clarity on the potential of their ideas. The bootcamp consists of masterclasses, workshops, individual and group activities, and mentoring sessions with BlueChilli Entrepreneurs in Residence, Product Managers, Developers, and Advisors. At the conclusion of the bootcamp, (up to) 15 startups will be invited into the accelerator.
What happens once your startup is selected into the Accelerator program?
Now the fun really starts; with paperwork!
We will work with each founder to incorporate the business, and structuring the equity split between co-founders (if applicable). You will also get access to resources to prepare yourself for stepping into the role of CEO and Founder of a tech company, and maybe some work you can do to start whipping your idea into shape. You'll also be given the key dates for our face-to-face immersion sessions and accelerator showcases so you can start making travel arrangements. But also, now is a good time to organise your life so you can start making travel arrangements and commit to the first 6 months of startup life. Startup life moves quickly and time will be one of your biggest constraints.
What does the Stockland Accelerator offer?
The Stockland Accelerator program offers an attractive proposition to early-stage startups to immerse with a team of 30+ startup experts who have invested in and built over 120 startups.
In return for 15% equity, BlueChilli provides:
- A technology team of developers and engineers to build a minimum viable product (MVP), saving $50,000 to $100,000
- Expertise including an assigned Product Manager and Entrepreneur-in-Residence, market-proven curriculum and a cohort of peers
- Co-working space in Sydney, Melbourne and Brisbane throughout the six-month accelerator program
- Access to subject matter experts and customers to validate your idea
- An initial AUD$38,000 to get started, with up to a further AUD$500,000 in follow-on funding available.
Is there follow-on funding available?
Yes, startups who complete the full Stockland Accelerator program and raise funds from independent investors following the program are eligible for up to AUD$500,000 in follow-on funding, provided by the BlueChilli Venture Fund (up to AUD$250,000) and Hatcher+ Venture Capital (USD$200,000). You can read more about BlueChilli’s partnership with Hatcher here.
Will Stockland invest directly in my startup?
In addition to funding from BlueChilli Venture Fund and Hatcher+, at the conclusion of the accelerator program, Stockland may make direct investment offers to startups.
Where can I find the terms?
The terms and conditions can be found here.