Internationalizing Start-Ups Through Incubators

Goals

To identify data on the impact of incubators helping local companies succeed internationally.

Early Findings

Kiln Incubator

  • The Kiln incubator is a service for existing SMEs wanting to grow it supports quality technology companies.
  • Kiln's clients benefited in terms of: "expert advice, lessened stress of growth, legitimized the business to others, and ability to internationalize."
  • CBRIN's KILN incubator program has assisted over 20 innovation companies through incubation. There are currently 6 companies in the incubator space and 10, respectively 17 in programs of virtual incubation."
  • Some of Kiln's startup clients found "advice relating to scaling their business for an international market very helpful in looking beyond their current situation and establishing customers overseas." Some of their clients include Automed, Gymaware, and Spinify.

Automed

  • Automed is a client of the Kiln Incubator.
  • The company was founded in Newcastle in 2012 and is a Canberra based company. It is a "global first in automatic livestock medication systems."
  • "It was a finalist in the 55th Australian Export awards, an Asia Pacific ICT Alliance industry application award winner and a three-time iAwards winner, including Mobility Innovation of the Year Award and Industrial and Primary Industries Award in 2016."

Gymaware

  • Gymaware is a Canberra business and a client of Kiln Intensive.
  • "It has eight full-time staff and a turnover of around $2M per annum."
  • The business sells products that track movement and power during gym training for elite athletes.
  • "85% of Gymaware’s customers are international, with 80% being USA based elite sports teams and athletes."
  • "The sports tech products that Gymaware sells, are seen as the ‘Gold standard’ for movement-based tracking systems."
  • A spokesperson from Gymaware says that the help of CBRIN/Kiln staff was critical in getting the company ready for fast growth. The advice they received from the incubator helped accelerate their growth.

Spinify

  • Spinify, another client of Kiln, is a startup that "provides workforce in customer organizations with a gamified competitive environment through interactive activity leaderboards and dashboards".
  • Spinify's founder received a lot of value from CBRIN, which offered him advice for problems, made him feel a part of a community, and helped him focus on sales.
  • CBRIN also connected him with Canberra’s universities, which led to multiple internships.
  • Spinify's founder also gives back and invests in other start-ups, serves as a mentor to others, and talks about his experience.
  • Spinify's founder wants more government funds invested in CBRIN to increase the extent of start-up support. He also felt that more needs to be done to connect universities and the private sector, and advocates that students receive course credits through working in start-ups.

Summary

  • For the initial hour, we tried identifying as much of the requested information as possible. We were able to identify some insights on an incubator that helps companies succeed internationally, as well as examples of the benefits those companies gained. Most of the companies identified were from Canberra, Australia.
  • For this hour, we were unable to immediately identify specific examples in terms of positive impact on the local economy or job creation for start-ups that worked with incubators, but we were able to find general insights on the positive outcomes of working with an incubator.
  • In the course of our research, we also came across some insights in terms of the challenges of internationalizing start-ups, as well as insights on the economic importance of incubators (in general), which might also be of interest.
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