RumpusOz Kicks Off
Leigh
We’re announcing an exciting, national, innovation challenge for budding Australian entrepreneurs developing next generation products in Health and Wellbeing.
We’re inviting innovators, creatives and
entrepreneurs to introduce their amazing concepts to the world!
Working with our experienced film crew, your journey will be documented in a 6-part observational documentary produced for online and television, to help promote you and your venture internationally.
Our objective is to showcase the next generation of sensational products and services that respond to the international challenge of Health and Wellbeing.
Software, hardware, physical products, craft or services, all of which appeals to a broad audience.
By participating in the challenge, you will work with us for 6-months in a virtual, accelerator program, coordinated out of Little Tokyo Two (Brisbane), Fishburners (Sydney) and either i9 or York Butter Factory (Melbourne).
Successful applicants will be filmed while receiving the support of experienced mentors, senior advisors and investors to help validate, build, broadcast and garner sales and investment for your concepts.
You will also be provided the opportunity to pitch to investors for seed capital to help grow and stabilize your new venture.
We're now calling for interested ventures and entrepreneurs. Applications close 3rd May 2015 https://www.f6s.com/rumpusozchallenge#/apply
Program commences 30th June 2015. Applications open to consumer based concepts only, in response to the Heath and Wellbeing innovation challenge.
An information session about the Challenge will be held at the following locations and date:
Information Sessions:
Brisbane: 14 April, 5:00pm, Cook Medical http://www.meetup.com/Healthtech-Queensland-Meetup/
Melbourne: 15 April, 5:30pm, Inspire9, Large South Room, Melbourne, http://www.meetup.com/startuphealthtech/
Sydney: 16 April, 4:30pm, Fisherburners, Sydney | no rego required
and
16 April; 6:00pm, Hall Chadwick Level 40, 2 Park Street, Sydney | Register at the Sydney Healthtech Meetup http://www.meetup.com/Health-Tech-Sydney/events/221339160/
Hugh Stephens
Geoff Langdale
Just once I would enjoy being surprised on the high side by a program ("Oh, wow, those are generous terms").
Brian Dorricott
Geoff,
Be fair – RumpuzOz is offering $40K for 7% and $80K for 14% which is twice as much as Disrupt@Scale ($75K for 30%). They both expect a significant portion of the money to be spent with them rather than outside.
And perhaps thinking about organisations as businesses in their own right is a better way to think of these opportunities. We are seeing offers from start-ups who are trying to make a living in the market of “Business Incubation”… they are innovating by creating a catchy name, using different equity v. money ratios, leveraging the connections of their backers, etc.
I think the more the merrier as long as the people who accept the deals have the knowledge and capability to understand the implications of the terms of the agreements they will be signing.
Regards,
Brian
From: silicon-bea...@googlegroups.com [mailto:silicon-bea...@googlegroups.com] On Behalf Of Geoff Langdale
Sent: Tuesday, 7 April 2015 6:56 AM
To: silicon-bea...@googlegroups.com
Subject: [SiliconBeach] Re: RumpusOz Kicks Off
So after the kerfuffle over Disrupt@Scale (75K for 30%), the torrid pace of innovation in startup terms continues: we appear to have not one but two different arrangements - $0K for 7% or $40K for 14%.
Just once I would enjoy being surprised on the high side by a program ("Oh, wow, those are generous terms").
On Monday, 6 April 2015 20:23:05 UTC+10, Hugh Stephens wrote:
FYI for those interested (I was curious what the terms were), HYPERLINK "http://www.rumpusoz.com/faqs/"from their FAQ
In the first round of participation, we do not invest capital. We invest up to $40K in services and broadcast time to support your concept on our online channel as well as prepare you for a crowd funding campaign via our channel partners. In return, we accept 7% equity. During the shortlisting, we may also invest up to $40K in cash for a further 7%.
FWIW I personally take a bit of an issue taking "challenge" to mean "incubator" – 'challenge' brings to mind HYPERLINK "https://www.digitalpulse.pwc.com.au/open-innovation-real-time-train-apps/"NSW Transport etc (which may or may not have prize $ involved, but nothing in the way of equity). It could just be me being a comms wonk but it does help (me at least) understand the goals of the program, which seem to be quite different to "promoting good ideas/innovation | showing entrepreneurial journeys" which was what I first thought it must have been.
Regardless, best of luck – will be interesting to see the types of technology generated and the journeys portrayed.
Hugh
On Thursday, 2 April 2015 22:37:19 UTC+11, Leigh wrote:
We’re announcing an exciting, national, innovation challenge for budding Australian entrepreneurs developing next generation products in Health and Wellbeing.
HYPERLINK "http://www.rumpusoz.com"www.rumpusoz.com
We’re inviting innovators, creatives and entrepreneurs to introduce their amazing concepts to the world!
Working with our experienced film crew, your journey will be documented in a 6-part observational documentary produced for online and television, to help promote you and your venture internationally.
Our objective is to showcase the next generation of sensational products and services that respond to the international challenge of Health and Wellbeing.
Software, hardware, physical products, craft or services, all of which appeals to a broad audience.
By participating in the challenge, you will work with us for 6-months in a virtual, accelerator program, coordinated out of Little Tokyo Two (Brisbane), Fishburners (Sydney) and either i9 or York Butter Factory (Melbourne).
Successful applicants will be filmed while receiving the support of experienced mentors, senior advisors and investors to help validate, build, broadcast and garner sales and investment for your concepts.
You will also be provided the opportunity to pitch to investors for seed capital to help grow and stabilize your new venture.
We're now calling for interested ventures and entrepreneurs. Applications close 3rd May 2015 https://www.f6s.com/rumpusozchallenge#/apply
Program commences 30th June 2015. Applications open to consumer based concepts only, in response to the Heath and Wellbeing innovation challenge.
An information session about the Challenge will be held at the following locations and date:
Information Sessions:
Brisbane: 14 April, 5:00pm, Cook Medical http://www.meetup.com/Healthtech-Queensland-Meetup/
Melbourne: 15 April, 5:30pm, Inspire9, Large South Room, Melbourne, http://www.meetup.com/startuphealthtech/
Sydney: 16 April, 4:30pm, Fisherburners, Sydney | no rego required
and
16 April; 6:00pm, Hall Chadwick Level 40, 2 Park Street, Sydney | Register at the Sydney Healthtech Meetup http://www.meetup.com/Health-Tech-Sydney/events/221339160/
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Geoff Langdale
It's not $40K of software development. It's not $40K of "room and board and free office space". It's $40K worth of something that almost no early stage startup I've ever heard of has spent any serious money on. It might as well be $40K worth of dog grooming or marching band hire.
Further, the startups are essentially paying 7% of their equity to provide free content for this "platform". It's like paying to be on reality TV.
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Aaron Christiansen
I personally think if you can get on that business model bandwagon you should grab it with both hands and run with it.
Matthew Ho
Cheers,
simran
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Ash Angell
simran
