Tech startups sought for accelerator program

Tech entrepreneurs in Asia Pacific are being invited to submit their applications for a 12-week startup accelerator course offering mentoring, cash, bonuses from partners like Microsoft and PayPal, and more.

Run by Innovyz and based on the TechStars Global Accelerator Program, the course is not curriculum-based but offers mentor-driven, interactive learning, as well as networking with other participants and an opportunity to pitch to investors and venture capitalists.

10 participants will be chosen from around Asia Pacific, with each to receive AU$6000 per director (up to a maximum of three), free tuition in the program, and over AU$85,000 in perks, including AU$60,000 in Microsoft Azure credits and AU$10,000 in PayPal transaction credits. In return, Innovyz will take 8% equity in each company.

Businesses with an ICT or web 2.0 innovation are particularly being sought. Successful applicants will have to relocate to Adelaide for the duration of the course, which runs from May 28 to August 17.

Applications close on April 20, meaning entrepreneurs who are accepted will have to be able to move quickly, although the potential benefits are huge.

Go here for more info, and to fill in your application.