Company Interview / Aussie startups punch above their weight as AI sector surges

Key Points:

The Founders Union uses AI to connect Australian founders with tailored support and investmentSignificant emphasis on supporting female founders, with backing from Westpac (ASX:WBC)Foundation partners include MYOB (ASX:MYO), Atlassian (ASX:TEAM), Pinch Payments, Think and Grow, Zed Law, and DellAll Founders Union profits to be reinvested in the local startup ecosystem

Scalare Partners has introduced the Founders Union, an AI-powered platform aiming to streamline Australia’s fragmented startup ecosystem. Carolyn Breeze states the Founders Union connects founders with bespoke support, matching them to events, service providers, and investors according to each business’s requirements. The platform leverages Scalare Partners’ extensive founder database, supporting more than 25,000 active founders, with the ambition to expand significantly beyond this number.

Breeze notes a particular focus on supporting women in the startup sector, referencing Tech Ready Women, a Scalare Partners brand with a substantial database of female founders. She sees the sector facing unconscious bias and insufficient networking opportunities, but highlights Westpac (ASX:WBC) as a foundation partner prioritising women’s access to resources. Other key foundation partners joining the initiative include MYOB (ASX:MYO), Atlassian (NASDAQ:TEAM), Pinch Payments, Think and Grow, Zed Law, and Dell. Breeze confirms that all profits from the Founders Union will be reinvested into Australian startups to further strengthen the innovation sector.

Australia’s innovation environment, Breeze observes, remains highly fragmented compared to overseas markets. However, she claims local founders perform strongly on a global scale, often producing more unicorns per investment dollar than competitors in the US or Israel. Breeze believes greater focus and coordinated support could further enhance these outcomes, particularly amid the current boom in AI-driven startups.