blog If you’ve been involved in Australia’s technology startup community over the past several years, you will be aware that there have been multiple incubator programs that have been made available to entrepreneurs. Programs such as Startmate, PushStart, Telstra’s Muru-D and so on have made early stage seed funding, mentorship and even physical work facilities available. However, according to one business consultant, the ‘scene’ is actually a lot more undeveloped than it seems. Writing in the Sydney Morning Herald this week, Greg Twemlow writes (we recommend you click here for the full article):
“The reality is regularly that of time and money down the drain. Budding entrepreneurs are best advised to maintain a healthy scepticism of incubator training schemes. Their programs have a great way of keeping participants busy without progressing with the real work of building their product and finding a market.”
Personally, I view the launch of these incubators as a fantastically positive development for Australia’s tech startup scene. The fact that they exist takes away much of the daunting nature of starting up your own business. But I agree with Twemlow that the ‘school-like’ nature of these programs obfuscates some of the real journey of building a business, with participants sometimes more engaged in following the program than following the money of business growth. I also haven’t seen many substantial successes come out of these programs. I think Twemlow’s article reflects a healthy ‘head check’ for these kinds of programs, as Australia’s tech startup sector grows more mature. It helps round out the whole picture.