The startup accelerator business backed by Telstra, muru-D, invests in great teams who have innovative technology and global ambitions. It ultimately works to bolster the entrepreneurial ecosystem in Australia and beyond.
Every year, the company takes on 10 different startups who then work together through a six-month in-depth program in which they are given the opportunities to form invaluable connections, learn the ins and outs of launching a startup, and gain access to Telstra’s extensive network of suppliers and partners.
Co-Founder of muru-D Annie Parker says the program is essentially like an MBA, but for startups. “Over the course of the six months that these groups are with us, we’re able to open a few doors for them, any of which they might not be able to open by themselves,” she explains, “or at least not as quick, hence the term ‘accelerator’.”
Halfway through the program, participants are taken to an international destination to see for themselves what a global marketplace actually looks like. This trip also helps them to form robust connections with like-minded people all over the world. As a result, Annie says, by the time they are ready to graduate from the program they should have the right people and funding in place to see their ideas come to fruition. “It also gives them access to the right mentors and advisors who can help them on their journey,” she adds. “We say right from the start that if you want to be a high-growth software or technology company, you need to be global from day one.”
For Annie, being a member of the Australia-Israel Chamber of Commerce (AICC) has helped her to see the importance of these overseas trips even more clearly. A couple of years ago, she went on a trade mission to Tel Aviv, Israel, and returned home full of knowledge. “I had such a fabulous trip,” she recalls with a smile. “I met with some extraordinary people and connected with not just leaders from here in Australia but also leaders from Tel Aviv, particularly in the startup space. Those connections have been so fruitful for us going forwards, and of course it’s been a huge learning experience for me personally.
“I met with probably three or four accelerator and incubator programs where they support, house, encourage, and nurture startups to potential global success. But the one team that I really made a lasting partnership with was the guys from The Junction, because philosophically both of our organisations are doing the same thing for startups in our respective ecosystems.