Oz Startup News – Thursday, 8 February 2018

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Daily Digest

How the rich invest: Patrick Grove bets on iflix

Patrick Grove could be the next Australian entrepreneur in charge of a $1 billion “tech unicorn”, if rumours recently published in the Asian media prove to be true.

Grove, a member of the Financial Review Rich List, is the co-founder and majority shareholder of the fast-growing online and mobile streaming service iflix, which was established only three years ago and is now available in 30 countries in Asia and the Middle East.

By John Stensholt from The AFR
(Google Link)

Today’s Featured Article…..


Top 20 Reasons Startups Fail: CB Insights

 

Is it the idea? the team? the execution? the funding? What, and who, is most to blame when startups fail? CB Insights set out to find out…

Top of the list is ‘No market need‘. With 42% of failures cited this as their number 1 reason for failing.

By StartupNews.com.au

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How to get an internship in a venture capital fund (and how to ace your interview)

Reyna Tan, an Intern at Rampersand pens a post on medium in order to provide some insight and tips on getting your foot in the door at a VC firm.

This post coincides with Rampersand opening up applications for their intern program.
By Reyna Tan from Rampersand

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The six top mistakes startups make when hiring tech talent

The global war for tech talent still rages, and it can lead companies to panic and grab candidates who aren’t a good fit. Startups in particular tend to make several key mistakes when hiring. In a small team, it can be all the more disastrous if you’ve hired the wrong person.

Here are six of the most common mistakes that we see founders make when hiring tech talent in Australia.

By Anthony Sochan in Startup Daily

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Car manufacturing startup Tomcar Australia collapses, citing “hostile investors” and high costs

Car manufacturing startup Tomcar Australia has entered voluntary administration, citing high manufacturing costs and “hostile investors” as the reason for shutting its doors.
Launched in 2005, the company was founded by brothers David and Michael Brim, who spent seven years in development before releasing their first product in 2012.

 

By Dominic Powell from Smart Company

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Power Ledger’s new deal with US non-profit Helpanswers will create hundreds of clean energy trading projects

Perth-based Blockchain energy trading company Power Ledger continues to build its business by striking international partnerships as it rides Bitcoin’s boom-and-bust rollercoaster in the wake of its $US27 million cryptcurrency IPO in October.
Power Ledger says its latest deal with US non-profit Helpanswers will lead to hundreds of clean energy trading projects

By Business Insider

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Chobani announces first Australian cohort of its food-focused incubator program

Yoghurt company Chobani has launched the new Australian arm of its food-focused incubator program, announcing the five startups set to make up the first cohort.

The companies chosen for the program will spend February to May collaborating and learning from key members and executives of the Chobani team, take part in educational programs at a variety of Chobani locations, and receive a $10,000 grant to grow their business, equity free.
By Mat Beeche from Startup Daily

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Domain to review its workplace culture following ‘boys’ club’ allegations

Domain Group has told its staff it will undertake a review of its workplace culture in light of allegations that former chief executive Antony Catalano led a “boys’ club” in parts of the company.
In an email to Domain employees on Wednesday evening, acting executive chairman Nick Falloon pledged to undertake a review of its “working environment” following an article published in The Australian Financial Review on Wednesday.

 

By Business Insider

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Say bonjour to Australia’s newest coding bootcamp

A coding school founded in Paris in 2013 and now in operation in 27 cities around the world is launching bootcamps in Sydney and Melbourne.

The $10,000 in-person bootcamps will take on their first Sydney cohort later this month and in Melbourne in March
By CIO Magazine

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Bicycle Queensland partners with peer-to-peer rental startup Quipmo to get Queenslanders listing their bikes

As various dockless bike sharing startups take over the streets of Australia’s cities, non-profit community and advocacy organisation Bicycle Queensland has taken a different approach, partnering with peer-to-peer equipment rental platform Quipmo to help members lend out their bikes.
By Gina Baldassarre from Startup Daily

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Tomcar Australia Logo

Tomcar Australia

 

Quipmo Logo

Quipmo