Episode Summary:
Michael Batko is the CEO of Startmate, an accelerator that has invested in 170+ startups across Australia and New Zealand with a collective portfolio value of two billion dollars. Originally from Austria, Michael had his first exposure to the startup world when he moved to Australia and became the first employee at Mad Paws, a marketplace for pet sitters. In his conversation with guest host Will Tjo, Michael discusses how working in a startup contrasts to a corporate environment, and what he sees as the four prevalent business models of accelerators and where Startmate fits in.
Chapters:
00:00 Introduction to Day One Podcast
00:25 Guest Host Introduction
00:32 Meet Michael Batko
00:39 Michael's Background and Startmate
01:01 Transition from Finance to Startups
01:46 How Michael Got Involved with Mad Paws
02:26 Adapting to Startup Culture
03:42 Shift in Mindset from Corporate to Startup
04:14 Changes in the Australian Startup Ecosystem
05:19 Growth of Support Networks
05:39 Evolution of Venture Capital in Australia
06:19 Catalysts for Startup Growth in Australia
07:04 The Role of Founders from Prominent Startups
07:40 Mindset Shift in Startup Commercialization
08:34 Risk-Taking Culture and Student Fellowship
09:24 Importance of Internships in Career Exploration
10:17 Need for a Change in Risk Perception
10:40 Building a Community of Support
11:40 Advice for New Founders: Talk to Customers
12:30 Engaging with Customers for Success
13:12 The Role of Startmate in the Ecosystem
14:15 Competition Among Accelerators
15:10 The Impact of Too Much Support
16:00 Balancing Support and Independence
17:40 Incentives for Accelerators
18:25 The Need for Founder-Led Initiatives
19:40 Future of Startmate and the Ecosystem
20:26 Closing Remarks from Michael Batko
22:23 Conclusion of the Podcast
