Meet H2 Ventures’ fourth generation of startups
The seven startups are the latest graduates of the VC fund's dedicated fintech, data and AI accelerator program.
The H2 Accelerator, the dedicated program from venture capital heavyweight firm H2 Ventures, has just turned out its latest batch of startups. The seven startups pitched to a packed theatre at the ASX building in Sydney after spending 20 weeks honing their companies, platforms and products in the accelerator.
Graduates of the accelerator program have turned out some innovative graduates – Stockspot, Simple Wall St and Spriggy are among them. Startups are given a spot at Stone & Chalk for the duration of the program plus $100,000 investment in return for a 10% equity share. In return, they are expected to deliver a working minimum viable product and initial proof of market within three to six months with the aim of raising Series A capital within six to 12 months.
The first to pitch was Dishme, "your personal cook". The concept is pretty simple, with the platform allowing you to order meals from a personal cook on-demand. Users enter their food likes and dislikes as well as allergies and then order food when they want it. The food can be for pickup or delivery.
On the cooking side, most of the chefs are home cooks looking for additional income. Rigid safety standards are applied to the home kitchens.
The platform was pitched as an online marketplace for healthy home cooking and is currently available.
Goodments is all about making it easier to invest in shares based on your environmental, social and ethical values. And they're the first investment platform to do it.
Goodments uses financial data and sustainability ratings to help its target market, which is mainly millennials, invest in companies which match their values. Users can select causes they care about and ensure they're not investing in anything they're opposed to.
This pitch started by explaining the shift in the balance of power between retailers and consumers. Originally, retailers were in the position of power, but with the Internet at their fingertips, the well-informed consumer has taken that position.
Reji plans to give the bricks-and-mortar consumer some of that power back. Its concept is about bringing the content, personalisation and ease of online shopping into physical stores.
To do this it will have shoppers download an app through which they can scan products to get more information, read user reviews, checkout using the app and receive rewards. It will also connect the consumer directly to the manufacturer for warranties.
Using customer data received through the app, retailers will be able to increase sales and customer retention.
Find out more about Reji here.
The concept of splitting payments is nothing new, but DiviPay's pitch says its point of difference is significant. It allows its users to split bills with their friends, roommates and partners, but it does this by creating a virtual card so no one person is ever out of pocket or "owed" money by the rest of the group. Instead, everyone pays their money back into the virtual card.
The virtual card can be used for purchases online and in-store. It is currently the only startup in Australia that can issue virtual cards on demand.
Check out our fintechFIVE with DiviPay or sign up for an account on the DiviPay site.
Anyone who has been through university or college knows that finding internships is difficult. InsideSherpa is trying to solve this on both the student and business side by offering online internships that offer real credit for students.
Companies can offer internships through the InsideSherpa platform, which requires students to complete hypothetical tasks and online modules. Students can apply for the internships through the platform and receive career guidance, job application help and career experience by completing the specialised modules.
After offering their first internship, InsideSherpa had 300 applications in six hours and a further 400 students join the waiting list before having to take the listing down.
The founders are touting the startup as the "Netflix for internships" – check out the platform here.
Investing is not simple but Mosaic is hoping to redesign this. It's a consumer-centric investment solution that is aiming to bridge the gap between wealth management and banking.
Essentially, it allows users to invest in any stock from around the globe for 99 cents. Mosaic also allows you to invest whatever amount you choose.
The platform lets you follow your friends to see what they are investing in.
The app is currently available in beta. The beta version gives you $1,000 of virtual currency to invest in real markets. There are cash prizes, merchandise and early access to Mosaic in 2018 up for grabs.
This online platform is trying to get people easy access to financial advice. Nod connects people to financial advisors for a fee, letting them submit questions and choose to receive general advice or personal advice, the latter costing a higher fee.
The advisors available on the platform are professional financial advisors, planners, accountants and other money savvy individuals in the community.
Nod is currently available in Australia but the pitch made clear that the concept could be easily moved overseas.
You can sign up to the platform here.