The NSW Government is helping 10 Australian startups test their global credentials in Israel

Elizabeth Barry 24 May 2017

fintech startup

Accelerator scheme for fintech and cybersecurity startups.

The NSW Government, in collaboration with Austrade, has this week announced an intensive accelerator program which will be open to Australian fintech and cybersecurity startups.

The program will take place in Tel Aviv, Israel over a 10 day period and will include meetings with Israel-based nationals as well as providing startups an opportunity to explore commercial partnerships under a new NSW/Israel innovation agreement.

A spokesperson from the Department of Industry said the extension of the program for another year, as well as the inclusion of an additional two startups in the program, lies in last year's success.

"The success of last year’s cohort shows there is significant value in supporting NSW entrepreneurs with exposure to the Israeli ecosystem," the spokesperson said.

Tel Aviv is becoming a global startup powerhouse, ranking sixth overall in Startup Genome's 2017 Global Startup Ecosystem Ranking and has the highest number of startups per capita internationally.

Currently, the program does not involve startups from Tel Aviv visiting Sydney.

"While there are no current plans to host an Israeli delegation, our ongoing engagement is strengthening mutual ties - we know that many Israeli startups and venture capitalists are showing strong interest in Sydney’s ecosystem," the spokesperson said.

There also may be opportunities for startup delegations to other international hubs.

"The Austrade Landing Pad program globally presents a great opportunity for NSW startups to test the global credentials of their businesses," the spokesperson said. "While there are no plans to widen the program at this stage it’s certainly something the Government will be considering closely in the future."

The delegation will be heading to Israel in September. Startups looking to apply can do so on the Innovation NSW website. Applications close 10 July 2017.

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