Podcast 18 – Flightfox co-founder on incubators and getting 800k in funding




Startup Chat show

Summary: <br> <br> <br> <br> <br> <a href="http://twitter.com/flmyngo" target="_blank">Lauren</a> from <a href="http://flightfox.com" target="_blank">Flighfox</a> has been on a whirlwind ride starting a company inside Australian incubator <a href="http://startmate.com.au" target="_blank">Startmate</a> and going all the way to Silicon Valley, <a href="http://ycombinator.com" target="_blank">YCombinator</a> and $800k in funding.<br> <br> http://media.blubrry.com/webdomination/p/wpcurve.com/wp-content/uploads/Podcast/Episode_18.mp3<br> <br> or <a href="http://media.blubrry.com/webdomination/p/wpcurve.com/wp-content/uploads/Podcast/Episode_18.mp3" target="_blank">Download the file</a> or <a href="http://itunes.apple.com/au/podcast/web-domination/id526349238" target="_blank">visit iTunes</a>.<br> Mentions<br> <br> <a href="http://flightfox.com" target="_blank">Flightfox</a><br> <a href="http://startmate.com.au" target="_blank">Startmate</a> - Sydney based startup incubator<br> <a href="http://globetrooper.com/" target="_blank">Globe Trooper</a> (Lauren's previous country)<br> <a href="http://ycombinator.com/" target="_blank">ycombinator</a> and <a href="https://twitter.com/paulg" target="_blank">Paul Graham</a><br> <a href="http://webjet.com" target="_blank">webjet</a><br> <a href="http://www.expedia.com.au/" target="_blank">Expedia</a><br> <br> Flightfox<br> <br> 5,000 contests put up<br> 1,500 flight experts<br> Human supported<br> Recently raised $800k in both Australia and the US (50 / 50)<br> <br> Startmate<br> <br> <a href="http://startmate.com.au" target="_blank">startmate.com.au</a><br> 3 months in Sydney<br> Some time in San Francisco and New York to look for additional funding<br> Pitch days in Sydney, Melbourne and San Francisco<br> 4 or 5 out of the 8 companies have raised a round, some local and some overseas<br> Mostly working their but off, living in Sydney, access to a lot of mentors<br> 6-8 startups, 20-30 mentors<br> Group message list with all of the mentors<br> Not a structured curriculum, mainly startups doing their own thing with access to advice<br> Startmate give $25,000 for 7.5% equity (next year it will be $50,000)<br> Advice for people applying to startmate - Be honest and think about all of the possibilities and objections<br> <br> YCombinator<br> <br> Much larger group - around 80 startups<br> Maybe better for more established startups<br> Great hands on advice from <a href="https://twitter.com/paulg" target="_blank">Paul Graham</a><br> Wasn't too worried about giving away equity - thinking long term<br>