Scaling into New Markets with CEO of Vervoe: Omer Molad

Omer Molad is the Co-Founder of Vervoe, an AI-powered skills assessment platform that allows you to easily make the right hiring decision based on performance. He talked to MitchelLake about managing geographically dispersed teams, hiring and his experience on growing a successful start-up.

Nick Krekis (NK): What made you choose to launch into the USA market?

Omer Molad (OM): We made a decision to go global from day 1, partly because Australia is a small market but mainly because it was an emerging category and we weren’t sure where people would adopt what we’re doing. We didn’t want to be limited to one market and draw conclusions based on a local competitive landscape. We wanted to experiment globally and see where we’d get traction.

(NK): What would be your top 3 tips for a company launching in America?

(OM): These would be my top 3 tips for a company launching in America:

  1. Set up a US company because most large US customers want to transact with other US companies. Stripe Atlas does this for $500.
  2. Get a payroll company like Gusto to handle HR, it will make life easier.
  3. Don’t overestimate the value of traction outside the US. American customers want to see US logos.

(NK): If you could have one do-over on a major decision, what would it be?

(OM): We made a mistake of hiring someone in Ohio as a W2 employee when really he should have been a 1099 contractor. As a result, we created an expensive administrative mess that took months to unwind.  

(NK): What market are you most excited about launching next?

(OM): For now, we’re focusing on our two core markets, the US and Australia. But we’re getting interesting traction in Japan. I don’t think we’ll hire locally because we can cover Japan from Australia, but it’s an interesting place to do business.

(NK): As a company when did you know you were ready to take on a new region?

(OM): We started globally from day 1. I’m not sure we were ready, but we did it anyway. 

(NK): How do you maintain your cultural DNA across different timezones and locations?

(OM): That’s a massive challenge. We have people in the US, Australia and Europe. There are certain things that are common globally – like our mission and company values. As much as possible we try to embrace and respect local cultures and local ways. So we’re not trying to enforce our culture. Quite the opposite. Our culture is the combination of the different cultures each team brings to the company. 

(NK): What functional hire was your first recruit on the ground? (ops, sales, Founder)

(OM): Our first hire in the US was a customer success manager. 

(NK): Did you get any sage advice before launching? If so, who from?

(OM): We spoke to a handful of founders who had launched in the US from other countries.

(NK): Did you start off with co-working space, shared office, remote workers, registered office? How did you get to your decision?

(OM): We started off with people working from home and then moved them to co-working spaces. 

(NK): How did you find navigating the different tax laws, employment laws, etc?

(OM): We have an accounting firm in the US and we use Gusto’s HR advisory service, which helps us deal with employment law in each state. It’s actually a great service.


Connect with MitchelLake to hire awesome talent for your business, globally. Please contact us via: 

ML team America

ML team Asia

ML team Europe

ML team Australia & New Zealand

Mitchellake Quarterly Placements Update Q4 2019

In recent months, MitchelLake has partnered with a number of companies and also delivered some great wins in terms of successful placements of leaders all over the globe.

MitchelLake has made the following placements between Oct 2019 – Dec 2019:


USA

Catapult Group Ltd | CEO
Will Lopes Career
Will Lopes 
October 2019

Fleetsmith, Inc | VP of Engineering
Unnamed due to confidentiality agreements
Dec 2019


AUSTRALIA

Xero Australia Pty Ltd | Senior Software Engineering Hiring
Rupert Enwright
October 2019

99 Designs Pty Ltd | UX Researcher
Tina Dinh
October 2019

Language Loop | Head of Technology
Damian Phillips
October 2019

Catapult Group Ltd | Non-Executive Director
Michelle Guthrie Career
Michelle Guthrie
November 2019

Catapult Group Ltd | CFO
Hayden Stockdale Career
Hayden Stockdale
November 2019

SEEK | CTO 
Confidential – announcement to be made in February 2020
November 2019

me&u | State Manager – Melbourne
Kelly Bardou
November 2019

Xero Australia Pty Ltd | Senior Software Engineering Hiring
Arthur Scheeren
November 2019

Covidence Pty Ltd | Head of Product
Frank McKenna
December 2019

EstimateOne | Lead Designer
Unnamed due to confidentiality agreements
December 2019


ASIA

Big Four Advisory Firm | Senior Partner/Digital Leader (China)
Unnamed due to confidentiality agreements
October 2019

PricewaterhouseCoopers Risk Services Pte Ltd | Digital Innovation Leader
Carolyn Chin Parry Career
Carolyn Chin-Parry
November 2019

Greensill Capital Pte Ltd | Head of Structuring
Unnamed due to confidentiality agreements
December 2019


If you are on the lookout for successful leaders at your company to kickstart 2020, now is the time to start your search. Feel free to reach out to us at any time if you’d like our support on any of your key hires.

MitchelLake Welcomes Megan Burke as Executive Search Partner USA

The MitchelLake Group is proud to announce the appointment of Megan Burke as the Executive Search Partner for all company operations in the USA.

Megan is an executive sales strategy and talent acquisition leader with over 25 years of experience in a variety of roles. Megan received her BA from the University of Denver and a Masters in Psychology from the University of San Francisco. She lives in Oakland, California with her two teenage children.

Megan collaborates closely with executive/leadership teams to drive strategy, innovation and change. As a native Californian, she has partnered and worked with start-ups and Fortune 500 companies across the state. Her experience in Talent Acquisition, Talent Retainment and Career Transition has earned her a reputation of a trusted advisor to her clients. Megan’s collaborative, and inclusive style contributes to the bottom line and long-term partnerships.

Megan has faced challenging and career-changing experiences. One such incident was her work with Elizabeth Holmes on winding down Theranos, where she was responsible for placing 5oo employees who had lost their job. While it was a scary and demanding case for Megan, she believes it led her to where she is today.

At MitchelLake, Megan will be bringing in her expertise to focus on developing and growing the USA business.

“I am honoured to part of such a smart, polished and professional team and am grateful for the opportunity to contribute.”

After office hours, Megan enjoys camping, hiking and spending time with her children and dogs. She also wishes to travel to Greece in the near future.


Connect with Megan by emailing megan.burke@mitchellake.com.

MitchelLake Supports the Australian Bushfire Appeal

As many of you will know, Australia has been wracked with horrific bushfires this season. As an Australian-founded business, some of the MitchelLake team have friends, family, and colleagues that have been impacted by the trauma caused by this devastating event.

We all owe a debt of gratitude to all emergency services during this time, but in particular to the volunteer firefighters who have been fighting to help protect our communities around the country. Here at MitchelLake, we have been inspired by the generosity of spirit, support and contributions both locally and around the world and we would like to do what we can.

Therefore, we are pledging 10% of our profits for the March Quarter to the Bushfire Appeal and Regional Volunteer Fire Services in Australia. We will also make that a minimum AUD $10K donation uncapped and we will be working hard to go much higher. We applaud the generous contributions we have seen from around our network to date and hope everyone stays safe for the rest of the season. 

Frustrated by the lack of interview feedback?

A deep dive into what Australia’s leading companies look for in hiring tech talent

Job seeking can be stressful and emotionally taxing. Interviews can be daunting, and the most common frustration is walking away with no feedback on why you were unsuccessful. 

My time in search has offered me deep insight into how employers assess candidates and the nuances of finding the right person. Analysing the data we have gathered over hundreds of interviews and feedback sessions, I’ve pulled together some key trends and insights which I hope can help you in preparation for your future interviews. 

  • Context and data points 
  • Industry trends 
  • Highly favourable traits and typical qualifying questions 
  • Where candidates typically fall short, examples of client feedback to candidates 

 

Context and data points 

I have worked with leading Australian and global businesses such as Xero, CultureAmp, Cisco Meraki and Kayo Sports, as well as venture-backed startups and high growth scale-ups. The roles I specialise in range from senior technical roles, usually with a specialist skill set (e.g. machine learning, site reliability engineering), software engineering team builds (first time hires or to scale), to executive and leadership hires (e.g. CTO, Head of Engineering, Director of Technology). 

The data presented below is based on more than 500 in-depth candidate conversations through my time at Mitchellake. In terms of metrics, a shortlist to interview conversion of more than 90% and an average interview to hire ratio of 6:1, which is two to three times better than the Australian average of 15-18:1 (Workable, 2018). 

In our partnership with clients, we work with hiring managers to identify the business problem they’re trying to solve, and work out essential requirements for the role (in our experience, potential candidates rarely tick all the boxes). With every brief, we target and approach passive talent iterating requirements based on feedback and insight from the market. 

With every candidate who interviews, successful or unsuccessful, we work with our clients to deliver detailed and constructive feedback. This allows us to be armed with strong data on what employers value the most when hiring tech talent.

Industry trends 

1. Technical skills or aptitude and attitude? 

For senior and leadership hires, the weighting has typically been 50:50. For junior level hires, the weighting on technical ability drops, typically favouring aptitude in problem solving, communication skills and values alignment. The general consensus is that technical ability can be coached and at the rate the landscape is changing, the ability to pick things up quickly is even more critical in order to stay on top of the game.

At the 2019 Startup Grind conference, there was a clear emphasis on hiring based on a values-based culture:

  • Jonni Ganni, CTO at Weploy: in building a winning engineering team, focus on hiring “nice” people more than strong individual contributors 
  • Dr Ben Hurst, CEO and Founder of HotDoc: one of the unique recruitment processes of Hotdoc is that many hires have not gone for a specific role. They’ve reached out on the basis of “this is me – would you be interested in a phone call?”

2. Technology agnostic 

While most companies use a specific tech stack in developing their product, e.g. Ruby, Java, Scala, Microsoft etc; in considering candidates, many of the clients we work with are agnostic of technical backgrounds. 

Most interviews involve a technical task of some sort, and the most progressive ones encourage candidates to complete it in their language of choice, so that candidates have the ability to showcase their strengths. The areas typically being assessed are computer science fundamentals, approach to problem solving, engineering best practices and a demonstration of production-ready code with quality test coverage. 

Highly favourable traits 

1. Curiosity

Curiosity indicates a person’s natural desire to learn, with an intrinsic disposition to dive deep in problem solving, which contributes to innovation. In a fast-paced and changing environment, curiosity is also an indication of one’s ability to adapt quickly and navigate ambiguity.

In tech, some of the qualifying questions to assess curiosity are 

  • Do you work on side projects in your own time? 
  • What are some of the new technologies you’re exploring at the moment? 
  • What’s the last thing you learnt about X?

This Forbes article highlights the importance of hiring curious people. 

2. Ability to wear multiple hats 

This is especially relevant to startups and non-institutionalised environments. In hiring leadership roles for startups, one of the key criteria remains “being able to pick up the hammer or roll up your sleeves” when required. 

Examples of qualifying questions:

  • What type of working environment do you thrive in? 
  • What things do you not like to do?
  • How did you approach dealing with a workplace situation where you had to perform a task outside your comfort zone?
  • Do you have an example of a previous accomplishment that indicates you will thrive in this position? 

3. Strong stakeholder management skills (especially leadership hires) 

To no surprise, stakeholder management is an essential part of any leadership role. In engineering leadership, a common consideration is a candidate’s approach in bridging the gap between engineering and product teams. 

With external facing roles, having an executive presence, commercial acumen and the ability to influence clients and industry peers is a must-have. Consulting experience is viewed favourably, as is the ability to translate business strategy into technology outcomes and key deliverables for execution. 

Examples of qualifying questions:

  • Can you tell us about a time when you have had to work with a cross functional range of stakeholders to get to an outcome? What worked well? What were the challenges?
  • Our business has co-located technical teams, from what you know so far about the business how would you approach managing a co-located team?
  • Can you tell us about a recommendation you have made or a view you have held strongly which has had significant pushback from a founder or CEO? How did you go about influencing them?
  • Can you share with us a time where you had to make a judgement call where you weren’t able to consult all the available stakeholders or have all the information? How did you make the call? What happened? What were the learnings?

4. Demonstrable experience of helping a company achieve significant milestones

This differs on a case-by-case basis, the important takeaway is having detailed examples of what the challenge(s) were, your actions and business outcomes. Interviewers would look for clear and concise answers, as well as a coherent story. 

As your answers form the basis of the first impression, the key areas where candidates have fallen short are:

  • keeping examples too high level, unable to articulate deeper technical details when probed 
  • incoherent story indicating you may not be the driver of the initiative or directly involved in the project 
  • for a leadership role, focusing too much on the details and not demonstrating strategic and scalable thinking, particularly in relation to team engagement / cultural change 

Highlighting some specific scenarios and requirements we have come across for technical leadership hires: 

  • First CTO hire for a venture-backed startup, seeking experience supporting the business through a capital raise and communicating technology advantage to key stakeholders 
  • Experience attracting, building and growing best in-class software engineering teams, e.g. doubling or tripling the size of engineering teams and how to structure for scale
  • Experience building, leading and developing teams in a multi-geography and matrixed environment. Ability to coach and mentor other senior technical leaders, influencing and driving diverse teams towards common outcomes. 

Most of the time, you would be able to identify or tease out what the specific requirements are from the job advertisement or position description for the role. 

5. Values alignment 

Alignment in values are a two-way street, the role and environment has to be right for both the candidate and company for everyone to thrive. I’ve included values alignment as an important consideration as there have been many cases where keen candidates have been passed on due to misalignment in values (or in less ideal cases, “not the right culture fit”**).  

What is key, is to research the values of the company to decide whether there is alignment with your personal values. It may be helpful to reference Glassdoor reviews or reach out to past and/or present employees of the company to have a chat and get a sense of reality from an internal perspective. 

A great example of a company that offers a two-way discovery process is Octo (now part of Accenture). A detailed account can be found here. Candidates who have been through the process had great feedback, describing it ‘unlike any other interviews’, and a great opportunity to experience for themselves if the company environment and role would be a right fit for them. 

**Culture “fit” is subjective and arbitrary, mostly assessed based on gut feel. We actively encourage companies to use culture “add” as a better approach, not just in recruiting but creating a foundation that reflects commitment to diversity and inclusion. Read more here. 

Where candidates typically fall short 

This section highlights some key reasons on why candidates may be unsuccessful, supported by examples of actual client feedback from a range of searches. It is important to note that these feedback are based on what transpired during an interview, and may not be a true reflection of candidates’ actual ability. For those who struggle with interviews, I hope there are some good takeaways here to help you avoid some common mistakes. 

1. Communication and the ability to bring stakeholders on a journey 

Example feedback: 

“My concern with the candidate was their ability to effectively structure information and ideas in a way that makes it easily consumable and persuasive. I found myself having to figure out the point they were making. They have some good experience and seem to be in the process of putting together all the pieces, but isn’t yet at a level where they can leverage that knowledge and experience effectively for a leadership role.”

“Candidate was convoluted and long winded in their answers and communication style. A lot of answers seemed more theoretical rather from experience.”

“Candidate could have sold themselves better. There were some natural hooks in their CV but we had to uncover some of this rather than them volunteering and making links. Unfortunately they didn’t articulate their core skills and value proposition well at all.”

“We were interested in how the candidate has influenced people and how they presented business cases to management for change. From their answers we didn’t get any understanding of how they are able to bring stakeholders on the journey, their understanding of upcoming challenges and what we can do to future proof ourselves.”

“The candidate did not explain the [specific technical concept] well. I had to infer that based on the technical descriptions they gave. This is a concern as the role will require clear communication with engineers (across multiple locations) to help with coaching, mentoring and championing engineering practices.”

“We are looking for someone who is in for the long haul. The candidate wasn’t able to articulate clearly why their last few engagements were consistently no longer than 12 months. In a leadership role, this raises concerns on whether they were able to bring the executive team with them, and whether they would be more inclined to move on to new challenges quickly.” 

2. Rigidity or unable to depart from usual way of working

Example feedback: 

“When it came to challenging their way, the candidate would very rarely step away from that. They were very strong in what they wanted to do [they were usually right], but we need someone who is more of an all-rounder to sit at the executive level. They would need support in understanding how to and the theory of working with people.”

“When working through the problem, the candidate wanted to strictly follow a process that they had in their head. When we asked to pause a certain area of discussion to probe further, the candidate refused and wanted to stick to their thought pattern. Our company has a very fast-paced rate of change and requires engineers to be able to roll with improvisation and open discussion about potential approaches. If the candidate needs to go away and think about problems solo, they would find our culture very challenging to work with.”

“The candidate didn’t seem open to discussions and had strong opinions that their way was right. We have a strong culture of collaboration where everyone’s views are heard, so we have some concerns over culture alignment.”

3. Leadership approach 

Example feedback: 

Good: “The candidate is clearly people and culture focused. They are passionate about diversity and creating an inclusive team and organisation, and had solid examples about this where they have taken actions themselves to make a difference.  They have also operationalised this which means it’s sustainable. They gave examples of stepping outside of their role to change things that weren’t working for their team (such as their performance framework) which was refreshing to hear as opposed to just sitting back and complaining. They had good perspectives on technical vs non-technical leadership. They were open to what is a high performing team and building for that as opposed to being stuck on one or the other” 

Where they fell short: “They were asked in a number of different ways about how they go about getting feedback and making sure they’re hearing it from their teams. The candidate answered with what [the company] does at scale. We’re concerned if they were aware of the feedback but do not clearly hear it. The candidate identified as process driven, structured and methodical. We’re not sure if this takes over whether they would be able to flex.” 

“When leading a function such as engineering, it is important that the team is across business challenges. The candidate seemed to isolate the engineering team from the rest of the business, creating a bubble which is different to reality. We’re looking for someone who knows what to filter and what to expose to the team.”

Candidate had great empathy and strength on stakeholder management. On the question about vision, the candidate had parts of the answer but didn’t articulate it properly. They didn’t talk much about their team and around diversity, this is important to [our company] We didn’t get much of a sense of his leadership style, as they didn’t volunteer any information about it.”

“We’re looking for someone who is able to come in and make a lot of change but do so in the context of the legacy of the business. The examples that the candidate gave didn’t seem to reflect their understanding of the sensitivity of certain issues.”

Thanks to my colleagues Priyanka Shahani and Matt Smith for collaborating on this article. I hope the content above has been helpful. If you got value out of it, please like and share so others can benefit from this insight too. Any questions or further thoughts, please leave a comment or email me at rachel.chong@mitchellake.com, I’d love to hear from you.

 

 

MitchelLake Quarterly Placements Update Q3 2019

Over the past few months, MitchelLake has connected some of the world’s brightest minds with some of the most exciting and fastest-growing companies.

We have partnered with Founders, CEOs and Board Members to pitch their companies to our strong global network of leaders and approach new ones in areas such as Computer Vision and Distributed Energy.

US

Longtail UX | VP Sales, Americas
Jamie Kanter
June 2019

The Athletic | Sr Director of Data Analytics

Chloe Liu

July 2019

Everguard | CEO

(AI joint venture backed by one of the world’s leading startup incubation firms and a global industrials conglomerate)

Sandeep Pandya

August 2019

UK

IR (Integrated Research) | Head of Europe

Frank Hoekstra

May 2019

Emirates | Head of Product and UX

Duncan Smith

September 2019

AUSTRALIA

Legal Gateway Pty Ltd | CTO

Rick Frankel

May 2019

Hireup Pty Ltd | COO

Sonia Flynn

June 2019

Fergus | CEO

David Holmes

June 2019

RateMyAgent | Head of Marketing

Emma Nguyen

July 2019

ASIA

iMoney Group | CMO

Melissa Chan

March 2019

Accor Plus (Stealth Venture) VP Sales & Partnerships | Head of Business Development

Liam Wholey

March 2019

LivePerson | Regional Sales Director

Wee Lee Tim

July 2019

BCG Platinion | Managing Director,  ASEAN

Alain Schneuwly

January 2019

If you are looking to have someone in place for the start of 2020, now is the time to start your

search. Please reach out to us at any time if you’d like our support on any of your key hires.

 

Side Hustle: Leaders in Tech, On and Off the Clock (Part 2: Shash Mody)

Part 2 of a series of interviews that highlight successful people in tech and the things they do outside of work.

Shash Mody is the VP of Revenue and Growths at Lyric, a hospitality tech company in San Francisco. The company is an innovator in the hospitality space, focusing on design, technology, and community to create beautiful, stylish travel experiences for their customers. Lyric recently announced a $150MM Series B round led by Airbnb. Prior to joining Lyric, Shash led the launch of major initiatives at Amazon such as Prime Now and Wholesale Books. Shash currently lives in SF with his fiancée.

Every leader knows they need a strong team alongside them to be successful. While many think of a mountain peak summit as a personal achievement or a bucket list item, for Shash, it has taught him everything about trusting others, teamwork and humility. He carries and practices the same values on the mountain with his friends as a mountaineer, as he does in his workplace as a Vice President at a hyper-growth startup company.

 When did you start climbing mountains?

I was born in India and went to boarding school up in the Himalayas. To get from my dorm to my classes, it meant that I had to run up the mountain. It was just part of everyday living at that time. I started hiking when I was 11 years old as part of our boarding school curriculum. Twice a year we had to climb for 5 days every semester as part of an experiential education system to learn to be self-sufficient, but also to create a team mindset. Everything about mountaineering is a team sport — setting up camp, supporting each other, having buddy systems to ensure that everyone is okay. You learn to be loyal and to collaborate. You learn when to stop and how to succeed.

 Which mountains have you climbed?

I‘ve climbed Kilimanjaro, Mont Blanc in the Alps, Mount Rainier and Mt. Whitney. I climb a mountain every year — to raise money for charities and to bond with friends. Before Lyric, I was in Microfinance. I worked in villages across Africa and SE Asia to bring financial empowerment to women through access to finance. I believe in empowering others to improve their own lives — and through fundraising for organizations that help the disadvantaged.

 What do you have to do to become a mountaineer?

A lot of it is grit, being part of a team, and a few technical skills such as Ice Axe arrests, tying a knot and being part of a rope team. But equally important is knowing when to say no to summiting and knowing your own and your team’s limits. Mountaineering is hard and it is about overcoming pain and adversity to achieve your goals.

 Have you ever had to turn around and not make it to the summit?

Many times.

 ….does it feel like a failure when that happens?

Some people do mountaineering for the summit. For me, it’s about the journey and the bonds that are created during the climb. As a leader and a mountaineer, it’s important for me to cross the finish line with as many others as possible, rather than being one of the only people to reach the summit. I carry that same philosophy across work and sport. I help lagging teammates come down the mountain if needed because that is more important to my life philosophy than the actual process of reaching the summit. Now don’t get me wrong! It requires a battle with the ego to know that you still have the strength to get to the top and be so close but choosing to give up that personal achievement for the sake of a struggling team-mate. As a mountaineer, it’s important for me to practice my values and be able to drive down ego for the journey itself.

 Have you ever told anyone to go ahead without you and leave you?

Absolutely. And I’ve walked people down the mountain when they have had exhaustion or injuries. It’s all about being true and open to your community and team so you’re never putting anyone at risk. You need to place faith in fellow mountaineers and ensure that you are protecting yourself and your team in whatever manner possible. There are many things that can lead to questionable judgment. But you need to know when to stop and acknowledge when you need help.

 How do you think mountaineering helps you with leadership?

Mountaineering is a team sport. The skills are very translatable values that can be brought to the work environment. For example, the ability to give and take timely feedback is what develops highly effective teams; these are the same values you can practice on a mountain. Another one is checking your ego at the door. You can’t come in with a “me first” attitude into a work environment or into a climb. Finally, while climbing you’ve got to keep a pulse on the weather, turnaround times, and fatigue. Similarly, in the workplace, data-centric decisions maximize the predictability and probability of success.

 What mountain is next for you and when?

Next summer! We’re thinking Mt. Shasta.

Do you have an interesting side hustle? What motivates you to give your best both on and off the clock? I’d love to meet you and learn more about it! Get in touch with the team at MitchelLake.

Queensland: from the Sunshine State to the Startup State

I moved to Queensland from our Sydney office some 5 years ago and back then the startup eco-system was almost non-existent. In order to connect the community somewhat, I started chapters of Silicon Beach on the Gold Coast & Brisbane at the end of 2011, which has a combined community of around 2,700 members.

The Silicon Beach networking events were an original catalyst and founding pillar for a startup movement in Queensland. I remember meeting Steve Baxter at our first Silicon Beach Brisbane event at a pub in Fortitude Valley, and he had much bigger and bolder plans with the Creation of Startup community hub and RiverCityLabs was born not long after. Thanks to many contributors and supporters it has been a growing ecosystem since those early days, and it’s awesome to see to the progress of the startup marketplace across Queensland today.

Last week, I attended the Inaugural Advance Queensland Innovation and Investment Summit which captured the imagination of over 1,400 attendees from the Queensland startup scene & broader business communities. With a further 3,000 engaged via the livestream component of the event, I can see in real terms the growth that has occurred in the startup ecosystem over the past few years in the Sunshine State. At this event there was 60+ speakers, most local but some inspiring global speakers including Steve Wozniak, Brad Field, Bob Mocydlowsky, the amazing Dr Nina Tandon and others.
This event was a great success for a state that is making solid moves to becoming known as the “Startup State”. There were a number of initiatives launched at this festival including some massive announcements including:

Myriad to put international spotlight on Queensland

A three-year deal was announced by Premier Annastacia Palaszczuk with Myriad from 2017 to 2019. Myriad, a new startup event created by a team with international experience running startup events like South by Southwest (SXSW) in Austin and Slush in Finland. The Myriad team are world-renowned founders with a track record in delivering exemplary technology events with strong economic returns. Myriad will showcase the best of regional innovation, turning Queensland into a tech hub for the whole Asia Pacific region and will bring some of the most inspiring international speakers to our shores.

Hot DesQ to attract global startups

Hot DesQ is an Australian-first program aiming to attract entrepreneurial talent to Queensland. It will bring successful international and interstate startups to Queensland to strengthen the local ecosystem, provide access global expertise to create business opportunities for Queensland. Hot DesQ invites startups to move to Queensland, and up to $100,000 AUD in grant support is available.

Queensland Startup Precinct announced

The Startup Precinct will create an innovation hub for Queensland bringing entrepreneurs, startups, incubators and investors under the one roof to foster collaboration and get ideas off the ground. With digital and physical links to innovation centres and accelerators around the state, the Startup Precinct will play a vital role in building a thriving entrepreneurial culture in Queensland. The Startup Precinct is located in the historic T.C. Beirne Building in Brisbane’s Fortitude Valley and will be open in October 2016.

They say startups will be the major job generators in the years ahead. Research indicates that high-growth technology companies will contribute over $100 billion to the Australian economy and create more than half a million jobs in the next 15 years.

Bring it on Queensland, you have a way to go, to own the term “The Startup State” but I like what I see with these strategic initiatives announced last week at the Inaugural Advance Queensland Innovation and Investment Summit!

We’d love to hear your thoughts on the Australian startup ecosystem. Continue the conversation on Twitter @MitchelLake.