Qantas has partnered with Slingshot to deliver a 12 week program designed to get you the business model, traction and investment you need to succeed. In just 12 weeks you will validate your business model, prove you are developing a product or service customers want, build a minimum viable product (MVP) and demonstrate progress to advisors and investors.
The 12 week intensive curriculum, delivered by leading experts in their field, covers:
• Business Modelling
• Traction and customer insights
• Branding and marketing
• Financial modelling
• Pitch coaching
• Raising capital.
What do you get?
• Up to $150,000 of investment and the opportunity to secure next round investment from Qantas, the Slingshot Venture Fund and our investment partners (see investment terms below)
• 12 week structured education program, led by industry experts, designed to get you investor ready
• An additional 12 week incubation program for selected teams
• Access to a dedicated Qantas and Slingshot team, senior executives and business units
• Work with Qantas’ trusted and global brands with unique access to Qantas Group insights and data strategy mentoring
• Mentoring from industry experts, matched to you and your needs
• Access to an international pool of investors
• Invitations to community events
• Branding and marketing support
• Legal and financial advice
• Inclusion in AVRO media and events.
What are the investment terms?
• Seed Investment: Slingshot will provide an initial upfront investment of $50,000 for 10% equity in your business. Note: There are no hurdles to accessing this funding, all Startups receive $50,000 on program entry
• Follow on from Slingshot: Unlike other programs, the AVRO program offers a potential $100,000 of follow-on funding from the Slingshot Venture Fund. To access this funding, you will need to receive follow-on investment from three or more investors. Importantly, the follow-on funding is at a valuation set by your Startup with no discount
• Follow on from Qantas: Qantas may look to invest in select businesses after the completion of the AVRO Accelerator. Any investment by Qantas is at a 25% discount on the price of shares on offer during a qualifying capital raise.
• Please provide as much information as possible in your application
• It is highly recommended that you upload a two-minute video to support your written application. The video should succinctly outline the problem being solved, market size, solution and how it is different to your competitors, business model, team and why the team is best placed to exploit the opportunity, and your objectives for partnering with Qantas
• Ensure your CoVentured profile is complete and up-to-date
• If your application is successful, you will be required to attend Pitch Days on 29 or 30 May and Induction Day on 16 July. Please keep these dates free in your diaries.
More information can be found at qantas.com/avro along with details of the roadshows in Melbourne, Sydney and via Facebook Live.