A walk in ePark for startups

ePark, a joint venture between Deloitte Touche Tohmatsu and Allen & Buckeridge, will provide capital outlay, infrastructure and e-business advice to startup companies operating exclusively via the Internet.

Allen & Buckeridge's CEO, Roger Allen, said the company would invest an average of $3 million in participating ePark companies. The primary goal of ePark was to bring startups to IPO within three years, he said.ePark will not require capital outlay from participating companies but will instead take an equity stake in the startups.

Vincent Sweeney, CEO of ePark, said the equity outlay given by companies to ePark would not be fixed, and that percentages of company shareholdings given to ePark would depend on the company's "stage of development".

"I would be very surprised if [equity outlay] got as high as 20 per cent," Sweeney said.

Lynn Odland, CEO of Deloitte, said ePark expected to receive 500 applications from startups but would select only 25. Sweeney said ePark would select companies considered to be "globally competitive".

Odland said ePark had offices in Melbourne and would use Allen & Buckeridge and Deloitte facilities in Sydney, but would not be "Melbourne-centric".

Ideally, he said, the company would not be restricted geographically because it would operate entirely online.ePark does not currently have financial support from the government. Sweeney said the company was considering applying for the government's BITS (Building Information Technology Strengths) program, but was afraid of constraints associated with large government programs.

"You've (Internet companies) got to move so quickly, you can't wait five years," he said.ePark is currently receiving applications and plans to commence proceedings before the end of January.

Join the PC World newsletter!

Error: Please check your email address.

Our Back to Business guide highlights the best products for you to boost your productivity at home, on the road, at the office, or in the classroom.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Byron Kaye

PC World
Show Comments

Most Popular Reviews

Latest News Articles


PCW Evaluation Team

Azadeh Williams

HP OfficeJet Pro 8730

A smarter way to print for busy small business owners, combining speedy printing with scanning and copying, making it easier to produce high quality documents and images at a touch of a button.

Andrew Grant

HP OfficeJet Pro 8730

I've had a multifunction printer in the office going on 10 years now. It was a neat bit of kit back in the day -- print, copy, scan, fax -- when printing over WiFi felt a bit like magic. It’s seen better days though and an upgrade’s well overdue. This HP OfficeJet Pro 8730 looks like it ticks all the same boxes: print, copy, scan, and fax. (Really? Does anyone fax anything any more? I guess it's good to know the facility’s there, just in case.) Printing over WiFi is more-or- less standard these days.

Ed Dawson

HP OfficeJet Pro 8730

As a freelance writer who is always on the go, I like my technology to be both efficient and effective so I can do my job well. The HP OfficeJet Pro 8730 Inkjet Printer ticks all the boxes in terms of form factor, performance and user interface.

Michael Hargreaves

Windows 10 for Business / Dell XPS 13

I’d happily recommend this touchscreen laptop and Windows 10 as a great way to get serious work done at a desk or on the road.

Aysha Strobbe

Windows 10 / HP Spectre x360

Ultimately, I think the Windows 10 environment is excellent for me as it caters for so many different uses. The inclusion of the Xbox app is also great for when you need some downtime too!

Mark Escubio

Windows 10 / Lenovo Yoga 910

For me, the Xbox Play Anywhere is a great new feature as it allows you to play your current Xbox games with higher resolutions and better graphics without forking out extra cash for another copy. Although available titles are still scarce, but I’m sure it will grow in time.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?