Innovyz Announces Results to Date
One of Australia’s leading accelerators, Adelaide based Innovyz, has released details of its results since it formed in 2012.
In the 4 years so far, 50 start-up companies have been formed with a combined value of over $144.8m when assessed on a last capital raising basis.
The current estimated value of the companies is over $240m with number projected to rise to over $1.5 billion by 2020.
The value of the Innovyz portfolio increased further recently when IT company Gooroo began trading on the market after a successful capital raise.
Innovyz companies have raised $37.7m to date, with the majority of the money raised in South Australia and overseas ($13.9m and $12.2m respectively before Gooroo’s capital raise).
There have been 103 South Australian investors in Innovyz (before Gooroo’s IPO) companies and 19 from overseas.
56% of the companies have been formed in South Australia, with a total of 81% in Australia and the remainder overseas.
Companies have been created in sectors as diverse as Advanced Manufacturing, Health & Wellness, Software, Education, Entertainment, Recruitment and Food & Agri.
Commenting on the results, Innovyz Chairman Mr Philip Vafiadis, said he was pleased with the results and looked forward to Innovyz improving on these in the future.
“These results are excellent.” He said. “They compare favourably with the performance of other commercialisation programs and accelerators like Y-Combinator and Techstars. To have assisted in the creation of nearly quarter of a billion dollars of company value, on the back of only $37.7m of investment is a remarkable ratio. We are very proud of this. It speaks strongly to our unmatched and truly unique process.”
“At Innovyz, we turn great ideas into great companies. We focus on the innovation not only the entrepreneur. If the innovation is great then we build a team around them, not only advisors but matching them with entrepreneurs and other critical staff, industry relationships and governance to maximise their chance of success.”
“We believe that this is the next step beyond the proliferation of the now normal mentor intensive accelerators around the world.”
“We are constantly reviewing our processes and operations and we believe our upcoming Waste & Recycling Technology intake will be our best ever program in terms of structure and delivery.”
“Our next steps are to launch the new program, start a second program, and then begin the process of listing ourselves on the ASX.”
“These results are wonderful and we couldn’t be more excited about our future.”