Seek and Hudson are joining Slingshot to launch a human resources-focused program called Human Capital.
Set to begin in March, the 12-week accelerator program is expected to help “corporate leaders reinvent the human capital elements of their businesses” by connecting them with up to 12 HR startups and scale-ups.
Participating companies will receive a small cash injection of up to AU$50,000 in exchange for 10 percent equity, a larger stake than some other Australian accelerators such as Startmate, which provides AU$75,000 for 7.5 percent equity, and Telstra-backed Muru-D, which provides up to AU$60,000 in increments for 2 to 6 percent equity.
Like other accelerator programs, Human Capital’s participants will also receive mentorship, dedicated working space, and access to sponsorship partners’ business networks.
Mark Steyn, Hudson’s Asia Pacific CEO, identified “the significant potential of talent analytics to boost business performance”, adding that the recruitment firm is keen to partner with companies that are “passionate about improving the future of work”.
Meanwhile, Andrew Bassat, CEO of Seek, said the company itself was once a startup “born out of disruption” and has grown to become a AU$5 billion company. The employment marketplace invested AU$200,000 into the accelerator program.
“Through this program, Seek will look to share its experience, and hopefully find opportunities to help ‘scale up’ new businesses via our relationships with over 700,000 hirers and 150 million candidates,” Bassat said.
The University of Technology, Sydney (UTS) will be a “supporting partner” of Human Capital, bringing its talent and academic networks to the program.
According to Slingshot, companies that have partaken in its accelerator programs have a combined market capitalisation of more than AU$42 million and over 80 percent of the companies are still active or have been acquired.
Slingshot has previously…