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KPMG and Artesian collaborate to accelerate start-ups
EXTRA >> AUSTRALIAN technology start-ups are hoping a new alliance between professional services group KPMG Australian and alternative investments manager Artesian Venture Partners will accelerate their chances of success.
The alliance is being promoted as providing up to 1000 Australian high growth start-ups with a new structure of support and capital, to expedite their business’ success over the next five years. Also involved with Artesian and KPMG Australia are a group of Australian universities, incubators, accelerators, technology start-ups and sophisticated investors in a combination Australia has not seen before. 
“To date the Australian technology sector has been finding its feet and growing rapidly,” Artesian Venture Partners chief operating officer Tim Heasley said.
“Where we are today is a testament to local entrepreneurs and their ability and determination to punch above their weight. But, it’s time for the start-up industry to mature, to operate with a new level of professionalism without losing its edge.
“We need to mobilise, professionalise, and build a cohesive structure around the industry to take it to the next level.
“The alliance with KPMG will allow the engagement of corporates in the start-up ecosystem as customers, partners or potential acquirers and will help start-ups and technology become a substantial industry, as we move away from a reliance on mining and resources.”
The partnership between KPMG and Artesian is designed to offer Australian corporates, superannuation funds, and industry bodies a unique opportunity to be exposed to, and engaged with the Australian start-up ecosystem and innovation. It will also enhance KPMG’s own innovation, integration and advisory services; increase mergers and acquisition activity with Australian entrepreneurs; and engage with a large pipeline of scalable, high growth businesses, as well as leading accelerators, incubators and universities.
The plan is to offer bespoke services to the start-ups with KPMG as the exclusive professional services provider to Artesian and to also host regular events to foster and promote the Australian start-up sector.
The collaboration will also analyse data and develop research models to better understand the growing sector and its future direction, while taking advantage of existing networks to put Australian entrepreneurs on the map globally.
Mr Heasley said Artesian has a unique co-investment model allowing it to quickly scale up its investment portfolio by outsourcing the selection, mentoring and due diligence of start-ups to specialist partners – accelerators, incubators, university programs, angel groups, research institutes and even digital agencies.
Artesian currently manages co-investment funds for Sydney Angels, BlueChilli, ilab (University of Queensland), iAccelerate (University of Wollongong) and Slingshot (Newcastle).
“And now our alliance with KPMG, who was selected as a result of a competitive process, will help us to identify and introduce corporate and other partners to these opportunities,” Mr Heasley said.
Head of innovation for KPMG Australia, Martin Sheppard, said the alliance represented an important milestone for doing business with the rapidly rising entrepreneur set – which, has the potential to contribute upwards of $100 billion to the Australian economy within two decades.
“Proactively engaging with Australia’s start-up ecosystem is critical to our innovation strategy,” Mr Sheppard said/ “It will expose us and our clients to new growth opportunities; provide early insights into emerging and disruptive technologies, and help us and our clients stay ahead of the curve.
“Combined with our Fintech work and other initiatives to be announced over coming months, it will position KPMG as an authority in this dynamic sector,” he said.
The partners will jointly commercialise the accumulated data of the venture, expected to encompass up to 1000 investee companies over the next five years.
“Although there is a lot of buzz around start-ups, including strong corporate interest, little actual research has been done on the sector,” Mr Sheppard said.
“Our data has the potential to play an important role in unlocking entrepreneurial potential in Australia. This alliance is an incredibly exciting opportunity.”
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