A new partnership between Genesis, the University of Sydney’s startup accelerator, and wealth management firm MLC is offering startup founders a $5000 award for excellence in startup financial modelling.
The MLC Financial Clarity Prize will be awarded to the Genesis participant who develops the most clear and compelling three-year financial model aligned to their startup strategy and funding milestones.
The prize aims to help emerging founders develop the skills and confidence to take control of their business finances from the outset.
Genesis co-head Anna Fitzgerald said the prize is about mindset.
“Financial models are one of the hardest and most important tools a founder can develop,” she said.
“With MLC’s support, we’re able to motivate and reward our founders for building clarity into their startup right from the beginning. We expect this will give them better funding options as a result.”
The MLC Financial Clarity Prize will be awarded at the finale of the university’s 10-week accelerator program this year. The program runs bi-annually and applications for the next cohort close on August 10.
MLC director of customer innovation Ashton Jones said financial clarity is the foundation of confidence, whether planning for retirement or building a business.
“That’s why we’re proud to support the next generation of founders through this partnership with Genesis,” he said.
“We believe great ideas need great financial plans to succeed, and we’re excited to reward and recognise those who are developing that capability early in their journey.”
Genesis is based in the Business School’s Discipline of Strategy, Innovation & Entrepreneurship. Since 2008, it’s supported more than 1000 founders – University of Sydney alumni, students and staff – to accelerate their startups through mentoring, education and connection
The Genesis program culminates in a finale where the top five startups pitch to win $30,000 of equity-free funding, and other prizes and support opportunities. Applications for the next cohort close August 10. Apply here.
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