The Techstars demo day has provided 10 local and international start-ups with the opportunity to pitch their business ideas to investors.
Up to 300 visitors attended the Shark Tank style event, which showcased a multitude of innovative start-up companies and the technology they have developed.
“Our Techstars finalists are already doing great things from Adelaide, leveraging our growing start-up ecosystem and taking advantage of our defence capabilities and local talent to create new jobs for our state,” said Manufacturing and Innovation Minister Kyam Maher.
“Hosting Techstars’ first and only accelerator program in the Asia–Pacific region enables Adelaide to cement its status as an emerging major start-up hub.”
Techstars is a global ecosystem that assists entrepreneurs to bring new technologies to market through its start-up and accelerator programs. Its venture capital arm, Techstars Ventures, currently has $265 million under management.
In July, Techstars launched its first Asia–Pacific accelerator in Adelaide, which focused on developing defence and security technologies with support from corporate partners including Boeing Defence Australia, Codan Defence Electronics, SAAB Australia and Thales.
Participating start-ups gain access to the Techstars global network, mentors and workspaces with cash investments of up to US$120,000 and more than $1 million of in-kind benefits. In return, Techstars takes a 6% equity stake in each company.
The Techstars Adelaide finalists are:
- Daitum: The start-up has developed a cloud-based, self-service software which combines artificial intelligence, machine learning and data analytics to help businesses realise the true value of their data.
- IR Sensors: The company has developed an infrared security sensor that detects human presence, whether moving or stationary, with zero false alarms. Its patented mosaic pixel technology is poised to be a game changer for the passive infrared domestic and industry security markets.
- MySky Technologies: The company’s flagship product is a portable, fire-and-forget counter drone technology. A design and production facility is in development in Adelaide for super-fast military drones.
- Teamgage: The company has developed an online platform aimed at large organisations that helps foster a culture of continuous improvement by improving employee engagement levels and enhancing team performance using real-time feedback.
- NIMIS CyberSecurity: The start-up has designed a penetration testing tool that simulates a cyber attack and helps companies stop cybercrimes before they become victims.
- Iridium Dynamics: The start-up has designed a commercial drone for inspection, mapping and surveillance over long distances and large areas.
- RadioMaze Inc: Provides low-cost home security using a Wi-Fi signal to alert smart devices for anti-intruder home detection.
- Additive Rocket Corporation: Uses revolutionary techniques to rapidly produce 3D print lightweight rocket engines for the space industry. Founder Andy Kieatiwong worked as a manufacturing engineering intern at SpaceX.
- CRON Systems: The start-up has designed an Internet of Things-based detection platform, which aims to futureproof international borders, making them smarter, safer and more secure.
- Dotterel Technologies: Focuses on noise reduction and audio enablement in drones, with a focus on commercial uses across defence and security.
Image credit: ©stock.adobe.com/au/valerybrozhinsky