Ninefold, Australia’s largest public cloud provider, has welcomed inaugural graduates of the renowned US Founder Institute to the Cloud Booster Program, as part of an industry drive to promote technology innovation and talent in Australia.
The Founder Institute, an early-stage start-up accelerator and global launch network founded in Silicon Valley which has since gone global over the last three years, launched a Sydney Chapter, co-directed by Benjamin Ranck and Benjamin Chong, earlier this year.
More than 100 candidates applied for the 15 week program in Sydney, hosted at Ninefold, the University of Technology Sydney (UTS) and technology incubator, Blue Chilli, with 34 accepted.
Nine individuals from seven companies have now graduated from the Founder Institute Sydney Chapter and all received free cloud computing from Ninefold, plus free workspace at Blue Chilli. The graduates will also receive mentoring from a number of industry executives, including Peter James, Chairman and Co-Founder of Ninefold.
According to James, globally, less than 40 percent of accepted Founders “typically make it through.”
James said that through a part-time four month Founder Institute program, existing and prospective founders could launch their dream company with expert training, feedback, and support from experienced start-up CEOs - while not being required to quit their day job. “The Founder Institute’s unique Graduate Liquidity Pool also enables graduates and mentors to share in the equity upside of each class, creating local, teamwork-based ecosystems where great new businesses can flourish.”
“We congratulate all of those who applied, took part, and graduated in this year’s inaugural Sydney Chapter Founder Institute, the program is certainly not for the half-hearted. It’s critical for Australia’s economic future and role within Asia Pacific that we retain and encourage our own innovative identity to preserve the local start-up culture currently flourishing, and prevent this so-called “braindrain”. Aussie companies and entrepreneurs still have a lot to gain and a lot to give at home.”
The Cloud Booster Program offers Founder Institute Graduates free Ninefold cloud computing and storage credit worth from $300 per month for up to a year, and they also receive a technical sales consultation for setup, together with involvement in Ninefold’s marketing campaigns such as guest blog posts, and opportunities to reach the wider Ninefold developer, start-up and partner community.
Image courtesy of Bigstockphoto