The announcement, the administration said, supports Murphy’s clean energy goals. Phil Murphy announced Wednesday at the Offshore Wind Partnering Forum that Ørsted, a offshore wind company, will open an office in Atlantic City next month. “The people I was matched with had relevant subject matter expertise - so their advice was useful and provided a really good signal for my business on what we can/should do in order to raise investment in 6 months.Gov. “It was good to chat in a relaxed manner and discuss various items without it being just a standard ‘pitch to investors’ style call.” Also, I received actionable advice regarding the problems facing my startup.” “Opportunity to speak to mentors and widen my network. “The opportunity for a quick chat with the best in their field who were willing to provide objective and encouraging feedback.” “Meeting new people that can help us succeed faster and getting (effectively warm) intros to high calibre prospective investors.” “It was a great way to connect with VCs which could be very daunting while sending a cold email or contact request on LinkedIn.” We asked founders to tell us a little about what they liked about their Open Office Hours experience. This genuinely would not be happening without you. Most particularly we want to call out the Inclusion Advisory Board who have sponsored, advised, promoted, guided and pushed this level playing field. Thank you to everyone who participated and supported the Open Office Hours initiative in a whole range of ways, including Launch Vic for their outstanding support and all the investors who’ve joined this movement. But for now, this will continue and efforts will be redoubled to create inclusive and fair pathways for investment for all founders with a passion and a vision to build something that changes the world. There should be no need for founders to need a special event to create these opportunities. The less good news is that this should be part of business as usual for everyone. The good news is the appetite for connection is there, and events such as Open Office Hours bring people together and hopefully we will see a knowledge transfer, relationship development and potentially investments made. Given that the main objective of Open Office Hours is to create more connections and funding opportunities for under-represented founders, we think this is an incredible initial result, but recognise that this is just the beginning.įollowing Open Office Hours, Cara Waters spoke to Paul Naphtali from Rampersand about the diversity funding gap in Australia and the work needed to be done by the entire ecosystem to make a change. Investors told us that they could see themselves investing in more than half (53%) of the founders and their startups either now or in the future 💸 Outcomesįollowing each mentoring session, investors recorded their advice and feedback to help founders on their startup journey. 🙋🏾♂️ 37% migrant founders 🙋🏼♀️ 27% women founders 🙋🏽♀️ 21% non-anglo founders 🙋🏼♂️ 3% LGBTQ!+ founders 🙋🏻♀️ 2% regional founders 🙋🏽♂️ 1% Aboriginal or Torres Strait Islander foundersįounders who made it through had the opportunity to meet remotely with two investors where they could ask for advice on anything, test their pitch or find out about the fundraising process in a supportive, collaborative environment.įounders who applied but didn’t make it through to this edition of Open Office Hours due to limited capacity will also have a chance to meet investors in the new year. Thanks to this collaborative effort, we created 150 connections across 80 hours of mentoring sessions - what our Inclusion Advisory Board member, Shahirah Gardner, likes to call: “The Giant Warm Intro”.ħ4 % of founders who applied for Open Office Hours identified as under-represented in one or more ways including: What better evidence of the need for such an initiative than this overwhelming response from both investors and founders? We ended up with 40 investors (from 30 VCs and angel groups) and 197 ambitious founder applicants, of whom 75 were selected. The Australian community of founders and investors responded with such incredible passion and numbers that we expanded the program. When we first started planning the event, our initial hope was that 20 investors and 20 founders would connect and have a great experience that would open up pathways for broader funding for startups. To say the response from the Australian startup community has exceeded our expectations would be a massive understatement.
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