GeneralWhy is Qantas doing this? avroaccel 2018-04-16T17:27:49+00:00
Qantas has a long history of innovation. Our founders started the company with an AVRO 504K and during the past 97 years we’ve paved a history of firsts. With disruptive technologies, evolving customer expectations, an increasingly global marketplace and emphasis on digital, the need for continued innovation is clear.
Now in its second year, the AVRO Accelerator will invest in emerging businesses of today, creating the next generation of global businesses for tomorrow. In return, we want to learn from you. We know that embracing new technologies, enhanced innovation practices and embedding an innovative culture will be critical to make sure we continue delighting our customers, driving our long term competitive advantage and unlocking our people’s potential.
Slingshot is Australia’s leading corporate accelerator program with over 125 Startups having completed our program. We work with clients such as Qantas, Caltex, Lion Group, SEEK, Hudson, HCF, ING Direct, the NSW and QLD Government and the University of Technology. The Slingshot methodology is validated and university accredited to help equip the next generation of entrepreneurs. In 2017, Slingshot also launched a new platform, CoVentured to connect corporate Australia to a growing community of Startups and Scaleups.
Most accelerators supply seed capital and a mentor driven program but few give Startups (and scaling businesses) the ability to work with the one thing that they all need; a large global partner like Qantas. We’re offering the scale and global reach of the Group’s brands and our deep knowledge of our highly engaged customer base, with two million unique customer interactions per week. We have an extensive partner network including airline partners, loyalty partners, suppliers and distributors that you will be able to access through the AVRO Accelerator. With Slingshot, we also offer funding support and access to coaching and mentoring from industry leading experts.
The AVRO Accelerator is looking for Startups and Scaleups with exceptional founders and teams. You have a unique insight to solve a big problem and you need a global partner to help you scale. Your solution addresses one of the key strategic opportunities we’ve identified for Startups and Scaleups to collaborate with the Qantas Group. In order to participate in AVRO Accelerator, your application must address one or more of these themes.
Absolutely, this is a unique opportunity to collaborate with Qantas and Slingshot with access to:
Gain access to the scale and global reach of the Qantas Group’s brands, our deep knowledge of our highly engaged customer base, and our extensive partner network. We want you to succeed, take this opportunity to fast-track your business development and expedite your path to a commercial and or investment deal with Qantas.
We provide access to guidance and mentorship from Qantas and industry leading experts. Their role is to support and challenge your team and you will be matched based on personality, industry and acumen.
The diversity of the Qantas Group offers unrivalled customer and commercial insights to help scale your business.
Startup participants receive up to $150,000 of funding. At Demo Day, both Startups and Scaleups have the opportunity to pitch to Qantas, Slingshot and global investment partners to gain additional investment.
Network and Partners
Something often overlooked is acquiring great business relationships for your company early. Teams will gain access to Qantas and Slingshot’s extensive partner community. Scale quickly with access to over $500,000 of additional value from industry leading program partners.
Branding and Media
Qantas and Slingshot will provide your company with branding and marketing support with inclusion in AVRO Accelerator media and events.
Qantas takes its customers data and privacy seriously. During the program, you will have unique access to an insights platform that can provide relevant consumer insights. This platform is based on the substantial breadth and depth of Qantas customer data, but presented in an aggregated and anonymised format for security. This can give you the opportunity to get a deeper understanding of your current (or potential) customers’ behaviours and preferences.
In addition to this access to insights, during the program, if you have a data-focused businesses, you will receive advice on your data strategy from Qantas data experts. Depending on your ability to form a partnership with Qantas, these experts will help identify potential future data partnering opportunities with Qantas.
No, you will own all of your IP.
Yes, you need to be full time on your business.
Monday 30 April 11.59pm (AEST). See Participant Journey for key dates.
You will be notified within fourteen business days of the application close date. Please keep in mind you will have to be available to pitch on Tuesday 29 or Wednesday 30 May at Mascot, Sydney if shortlisted.
Tuesday 29 or Wednesday 30 May at the Qantas HQ in Mascot, Sydney. This must be done in person as we do not accept video or skype pitches. You might consider sending an alternate team member to pitch if you are not available, we recommend putting your best presenter/s forward.
Monday 16 July. See Participant Journey for key dates.
You should apply as a Startup if you:
- Have an exceptional founder with a unique insights into solving a global problem
- Have a great product or service but need support to gain customer traction, revenue and product/market fit
- Need immediate funding and the 12 week mentoring and education program
- Can deliver a minimum viable product (MVP) to Qantas within three months
You should apply as a Scaleup if you:
- Have a passionate, committed and stable team
- Already have product/market fit, existing customers and recurring revenue
- Do not need immediate funding and the 12 week education program
- Can deliver your product or service to Qantas within three months
- ARR of >$500K, growing 10%+ MoM
Often that means you’re a Startup. If you truly believe your Startup is neither a Startup nor Scaleup, you can apply to both programs and we will evaluate the best fit.
If this site hasn’t already answered all of your questions, please reach out to contact us via the Contact Form.
StartupWhat is the AVRO Accelerator program like? avroaccel 2018-03-27T10:11:16+00:00
Intense. 12 weeks is not a long time. You will be part of a cohort of other hard-working Startup teams. You will be immersed in the 12-week program and engage with the best mentors to guide, support and challenge you. You will be exposed to investors, partners, sponsors and media, with opportunities to network and pitch at events throughout the program. At the completion of the 12-week program, select teams will receive additional support to continue to build your business in a further 12 week incubation program. At the end of the program, Startups have the opportunity to secure next round investment from Qantas, the Slingshot Venture Fund and our investment partners.
The program will be run at the Sydney Startup Hub where your team will receive desk space for the duration of the 12-week program.
The program runs for a 12-week duration. During the program, you should allocate 2.5 days per week of face to face time with the dedicated Qantas and AVRO team members as well as attending events. The other 2.5 days you should commit to building your business and seeking to aggressively attract revenue, customers and growth.
Slingshot will provide an initial upfront investment of $50,000 for 10% equity in your business.
Note: There are no hurdles to accessing this funding, all Startups receive $50,000 on entry into the 12 week program.
Follow On from Slingshot
Unlike other programs, AVRO Accelerator offers the potential for a further $100,000 of follow-on funding from the Slingshot Venture Fund. To access this funding, you will need to receive follow-on investment from three or more investors. Importantly, the follow-on funding is at a valuation set by your Startup with no discount.
Follow On from Qantas
Qantas may look to invest in select businesses after the completion of the program. Any investment by Qantas is at a 25% discount on the price of the shares on offer during a qualifying capital raise.
The program is open to flexible investment terms on a case by case basis. The case would need to be extremely strong as to why the terms should change.
During the 12 week program you will have the opportunity to tap into the domain expertise and network connections of the Qantas Group executives. Select Startups will receive a further 12 weeks of incubation support, depending on your business model and traction.
Potential outcomes of incubation may include:
- A pilot or train with our people and customers
- A commercial distribution agreement for your product or service
- A vendor relationship where Qantas will use your product or service
- Investment by Qantas in your business
We don’t encourage single founders but will consider you if you can demonstrate you have access to the resources you will need to grow your business quickly during the 12-week program.
Qantas and Slingshot will provide qualifying teams with another three months of support post program. This support includes further developing partnering opportunities with Qantas as well as help with capital raising.
ScaleupWhat is a Scaleup? avroaccel 2018-04-16T17:30:35+00:00
A Scaleup is a business that has a proven team, product/market fit with customer traction and recurring revenue. You’ve experienced at least 10% month on month growth and are looking for a global partnership to scale. You must be able to deliver your product or service to Qantas within three months of the program starting.
Most great Startups fail despite having a talented team or excellent product. The challenge is in scaling their customer base, generating revenue quickly and raising capital. The AVRO Scaleup program wants to help these businesses scale by collaborating with Qantas and their targeted communities.
There are a few reasons you might want to apply:
- Your business could benefit from a commercial relationship with Qantas
- You are a world class business looking to add a large customer to your portfolio
- You have a great product and business and see an application for it within the promoted themes
No, we anticipate your business is past that stage and you already have the knowledge, product, customer base and revenue in place. You will still have access to all the Startup benefits of curriculum, mentorship and additional program value but specifically as you need them. You will need to attend some key events throughout the 12-week program in Sydney and informed upfront.
The Scaleup program consists of a limited series of face to face meetings with the Qantas team and relevant executives. The aim of the program is to achieve a commercial partnership between Qantas and your business. Importantly it is a quick YES or NO process, in five meetings or less. We understand dealing with a large corporate can be time consuming so the process is designed to get to an outcome as quickly as possible.
Potential outcomes may include:
- A pilot or trial with our people or customers
- A commercial distribution agreement for your product or service
- A vendor relationship where Qantas will use your product or service internally
- Investment by Qantas in your business
The program consists of a number of workshops and events in Sydney and Qantas HQ in Mascot, Sydney.
The program consists of a number of engagements with Qantas and Slingshot executives. The program is designed to limit the number of face to face meetings required to get to a commercial agreement that is mutually beneficial.