RISE OF STARTUP SUPPORT PROGRAMS NOT AS ROSY AT IT SEEMS
Written on the 13 January 2017 by Lin Evlin
ENTREPRENEURIAL cultivation companies in Australia are appearing quickly, but questions have been raised about whether the operators have the proven expertise and experience to genuinely help budding entrepreneurs.
"As people jump onto the bandwagon without the experience or the actual dedication to try to create a positive and thriving startup ecosystem, there will inevitably be people who will have bad experiences with rubbish co-working spaces.
"This has the potential to create a bad cycle because a lot of people will be inspired to leave their jobs and be entrepreneurs but with the wrong community around them."
"If you are looking to join a co-working space or an accelerator, look closely into the team, look at the success stories and feedback that they have and don't just look at what is on their Facebook - actually call people that have been through the program and ask them about their experiences because then you will get the actual truth."
Entrepreneurial cultivation programs are designed to help startups transform ideas into globally competitive business more quickly by giving them mentorship, funding, resources, knowledge, and business contacts.
"What you see consistently in Australia is people saying they have a really cool idea without any proof or understanding about what the problem their idea will solve," Fairweather says.
"If you are talking to risk adverse Australians, they are never going to give you the money for something like that.