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Legislative Council - Fifty-Third Parliament, Second Session (53-2)
2017-02-28 Daily Xml
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MassChallenge

The Hon. T.T. NGO (15:08): My question is to the Minister for Manufacturing and Innovation. Can the minister tell the chamber about the success of the South Australian start-ups participating in the MassChallenge program?

The Hon. K.J. MAHER (Minister for Employment, Minister for Aboriginal Affairs and Reconciliation, Minister for Manufacturing and Innovation, Minister for Automotive Transformation, Minister for Science and Information Economy) (15:08): I thank the honourable member for his important question and his very strong interest in these areas. The government is committed to supporting innovative entrepreneurs and start-ups to thrive here in South Australia through a wide range of initiatives, including the South Australian Early Commercialisation Fund, Venture Capital Fund and Gig City Adelaide. This is laying the foundation required to create new jobs and industries in this state.

In addition to this we have also attracted the Bridge to MassChallenge program to South Australia. MassChallenge is a US-based not-for-profit start-up accelerator program that provides support for potential start-ups and entrepreneurs. I understand that, to date, some 1,211 MassChallenge alumni have raised over $1.8 billion in funding, generated $70 million in revenue and created over 60,000 direct and indirect jobs. The state government committed $280,000 to become a founding partner in the Australian Bridge to MassChallenge program, providing South Australian entrepreneurs with an opportunity to participate in one of the largest accelerator programs on the planet.

The South Australian contingent of teams have excelled as they have progressed through the program. Out of the five teams from South Australia that went to the national competition, out of 15 in total, four made it into the top 10 to attend the five-day boot camp in Boston in February 2017. That's more participants than any of the other participant cities, namely Sydney and Melbourne. This result really demonstrates the high quality of start-ups coming out of South Australia.

I understand that the teams had the opportunity to attend the Boston five-day boot camp and participated in a wide variety of training sessions and networking events that enabled them to connect with some of the world's most accessible mentors, investors and entrepreneurs. The five days culminated in a pitching competition on the last day. Of the four South Australian teams that went to Boston to pitch it out at the five-day boot camp, two teams made it through to the Boston top five. I particularly want to congratulate South Australia's James Stewart from Kick.it, an evidence-based platform that helps smokers kick the habit, and Selena Woodward from Edufolios, a start-up empowering educators by placing their statutory evidence requirements into a framework on an IT system.

Having these two ambitious Australian start-ups make the top five in the Bridge to MassChallenge boot camp in Boston is a great endorsement of the quality of start-ups coming out of this state and our evolving entrepreneurial ecosystem. South Australia is punching above its weight when it comes to support being provided to foster innovation, entrepreneurial creatives and those who have the potential to not only deliver significant economic opportunities, but who look to revolutionise the way society interacts in our state.

The two successful South Australian teams will now compete for a place in one of MassChallenge's five world-class accelerators in the US, Mexico, Switzerland, Israel or the UK and for a piece of the globally renowned shared prize pool of more than $3 million. I look forward to keeping the chamber informed of the outcome of the next round of success of the South Australian entrepreneurs doing us proud in the US.

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