BlueChilli was founded eight years ago with a mission to help entrepreneurs anywhere build impactful and scalable startups that solve the world’s biggest challenges.
During this time, we’ve built more than 140 startups, helped our founders raise over $160M and create 1,000 jobs, and delivered innovation programs to some of APAC’s leading corporations and global brands.
And just like any startup, our business model has evolved many times over the years as we’ve built, measured and learned. In 2020, we will enter our next phase.
Earlier this year, we expanded into Asia’s innovation ecosystem and launched our Singapore-based HeathTech Accelerator for Southeast Asia along with a corporate intrapreneurship program in Indonesia. We built an amazing team in Singapore, and looking ahead we are excited to shift more focus onto building and growing startups in Asia.
In Australia, the $10 million BlueChilli Venture Fund has invested across our portfolio of early-stage Aussie startups over the past five years, and has now allocated all of its capital. This timing provided us with the opportunity to evaluate the market and our strategy, and decide where to focus next.
Many of our corporate partners in Australia have increasingly been asking for later-stage startup programs, so we’re scaling back our technology arm and pivoting our focus from building early-stage startups to working with scale-ups in Australia. We will, of course, continue to have a team dedicated to helping our existing portfolio companies and startups scale and mature.
This is a bittersweet change for our Australian business, and for me personally. I love helping founders build their startups from an idea scratched on a napkin to a scalable and impactful business. And even more so, I’m really sad that I’m saying goodbye to a group of incredibly talented and passionate people who have each helped shape the startup landscape and change the face of entrepreneurship in Australia.
But I also feel enlivened by this new opportunity to support founders of later-stage startups in Australia, and excited to step up our investment in Asia’s rich and growing startup ecosystem. I look forward to working with our team, founders and partners in Australia, Singapore and Indonesia to help them innovate and create impact in the world in their own way.
BlueChilli may look a little different in this next stage of evolution, but our mission to help people build startups that will change the world for the better remains unwavering.