In 2017 Noga Edelstein, co-founder of UrbanYou, participated in SBE Australia’s Springboard Enterprises Australia Accelerator. Fast forward a year and Noga’s business raised $1million in less than 2 weeks, acquired a Brisbane competitor and was recently announced as our newest Board Member!
We sat down with Noga to discuss her board appointment, how Springboard helped her business, and why she thinks you should apply for the Springboard Enterprises Australia Accelerator program.
Why did you decide to join the SBE Australia board?
How could I not work with these wonderful people? No but seriously - it is a wonderful organisation, it’s a way of giving back, and the ecosystem surrounding female entrepreneurship has been so helpful. We have a responsibility to help in the same way we were helped. I’m privileged and honoured to do so.
Why should women entrepreneurs apply for the Springboard Enterprises Australia Accelerator?
I cannot recommend the program enough. I highly suggest women apply because the opportunities the accelerator affords you - you learn to raise capital, you make connections, you get a deeper understanding of their business and you gain access to top tier coaching, guidance and support.
What if someone is unsure as to whether or not they are ready to apply?
Even if you aren't sure you are ready, the feedback you will get through the application and interview process is valuable to your business. You also get the chance to grow your profile with those reviewing the application - it’s a top-tier panel of Australian industry experts plus the Springboard team from the USA (The Springboard Enterprises Accelerator is an American program run in partnership with SBE Australia.)
When you apply for any program it forces you to sit down and put pen to paper about your business and better explain your company and your numbers. As founders we sometimes are focused on working “in” our business vs “on” our business. This process will focus you on your business and you get a lot of feedback along the way with the application process, plus growing your profile.
Why would someone join Springboard vs another program?
If you get in, I would classify Springboard as a really elite program. It is seen as a top program. Top 10 women from across Australia get in and you interact with top tier leaders from the ecosystem and investment community... there isn't anything that compares. Plus, you get the network from the USA - the other women entrepreneurs and thousands of industry experts, investors and coaches in New York, Washington DC, Silicon Valley and beyond in their network.
What did you think were the benefits of being part of the Springboard Enterprises Australia Accelerator?
Well for us, without a doubt it was raising capital. We had a real moment of clarity in the program that we'd been seeing the business in a female centric way and didn't understand what investors wanted to hear. The SBE team helped us to understand how to share the business case and the numbers and we were able to tell that story really clearly after going through the program.
But even if you aren’t raising capital - around 20% of our graduates are bootstrapped businesses - it’s worth doing if your intention is to scale your company. It’s a great forum to get in front of people and companies and tell them about your business. It’s a great marketing opportunity!
Plus, you don’t have to relocate. You will be in Sydney for the bootcamp and Dolphin Tank, but other than that, the coaching program is done remotely and flexibly. This means you can stay in your hometown and continue to focus on your business at the same time as participating in the program.
Are you interested in learning more about the 2018 Springboard Enterprises Australia Accelerator?
SBE Australia is holding launch events in Melbourne, Brisbane, Sydney, Adelaide and Perth over the next two weeks. To sign up and for more info, please visit our website here under Launch Events - 2018
We hope to see you at our Launch Events - and thanks again Noga for your time. We are lucky to have you as our newest Board member!