Already partnered with 30 startup accelerators worldwide, the TechStars Network has added its first program in Australia, Innovyz Start.
Innovyz Start is a four-month program operated by SME Growth Capital, which is rebranding itself as Innovyz. The program will launch in March 2012 and expects to begin accepting applications in November, StartupSmart reported.
Like its TechStars counterparts in the U.S., SME will offer $18K in funding to the initial 10 startups but may look to increase that amount as it gathers potential investors.
TechStars launched its global affiliate network, modeled on TEDX, in May 2010; Startupbootcamp in Copehagen was its first partner. All partners can leverage the TechStars name by displaying it on their website and have access to TechStars' best practices.
"The TechStars Network is essentially us 'open sourcing' our model and sharing it with others," David Cohen, TechStars co-founder and CEO, tells LAUNCH via email.
David says the TechStars network is not necessarily targeting specific locations but "accepting members who meet our quality bar and who have strong mentors and management involved."
"As with all of the TechStars Network members, we are not operating the program, nor do we have any economic interest in it," David says. "We simply think they are good folks trying to help entrepreneurs."
Jana Matthews, a respected startup advocate, will head the incubator program, which Cohen calls a "very positive sign" for Innovyz. Jana founded Boulder Quantum Ventures in 1996, which later became the Jana Matthews Group.
She has also created a series of programs for groups that support entrepreneurs like the Young Entrepreneurs' Organization, Women Presidents' Organization and Innovate South Australia.
TechStars, which operates four programs in the U.S. in Boston, Boulder, New York City and Seattle, recently raised $24M and is giving all startups $118K starting in 2012 [ see our story ].
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