Airtree, a prominent venture capital firm, has announced the opening of applications for its Airtree Explorer program. This year, the program places an even stronger emphasis on cultivating diversity in angel investing, particularly outside the major cities of Sydney and Melbourne. Launched in 2020, Airtree Explorer is a three-month initiative designed to make angel investing more accessible by providing comprehensive education and support to new investors.
Participants in the program will receive in-depth training covering various aspects of angel investing, including sourcing opportunities, conducting due diligence, understanding term sheets, and navigating legal considerations. Moreover, they will benefit from mentorship and regular catch-ups, fostering a supportive environment where new investors can learn from one another and provide ongoing assistance to startups.
One unique feature of the Airtree Explorer program is the opportunity for participants to gain hands-on experience through direct engagement with Airtree investors. Each participant is assigned a buddy who is an experienced investor, and if the participant brings a startup to the table, they are given the chance to accompany their buddy on the initial meeting. This immersive experience allows participants to witness firsthand the questions asked by investors and actively participate, honing their own investment skills.
The focus on regional startups in this year's program is in line with the growing trend of increased investment outside of major cities, particularly in the wake of the COVID-19 pandemic. Airtree acknowledges that entrepreneurial brilliance is not confined to capital cities and aims to support the entire startup ecosystem across the country. Despite the fact that 87% of venture capital dollars currently flow into Sydney and Melbourne, Airtree is actively working to shift this imbalance.
Airtree firmly believes that fostering diversity among angel investors is key to unlocking investments in a more diverse range of startups. By expanding the pool of investors, they aim to ensure that funding reaches businesses that might otherwise be overlooked. The program's data tracking reveals promising results, with 50% of Explorer participants being women and non-binary investors. This has led to an increase in the identification and support of diverse startups and companies founded by women.
To further extend its impact, Airtree encourages program participants to establish regional community hubs that can continue the angel investing journey beyond the program's duration. These hubs will serve as local support networks, enabling ongoing collaboration and discovering startups that are making significant contributions outside of metropolitan areas.
Jess Walker, Community and Programs Manager at Airtree emphasized the significance of the program's expansion beyond their Surry Hills headquarters, stating, "We're a very small company in Surry Hills, and we're not going to see those amazing regional companies in Western Australia and Tasmania. It's been wonderful to open our education up to bring in more angels, but also for them to be able to support their own ecosystems and their own communities."
As the Airtree Explorer program opens its doors once again, Airtree's commitment to promoting diversity in angel investing and fostering a rich startup environment remains unwavering. By prioritizing accessibility, education, and support, they aim to expand their reach and impact across various ecosystems and communities throughout Australia.
