Pat Conaghan MP

Insurtech Gateway Australia is here to help local start-ups

Innovative start-up businesses on the North Coast and throughout Australia can now tap into strategic support through Insurtech Gateway Australia.

Insurtech Gateway has received grant funding from the Australian Government to accelerate its incubation program in Australia.

Federal Member for Cowper Pat Conaghan said the Morrison-McCormack Government had recognised the potential of this company, which has offices in Coffs Harbour, Sydney and Brisbane, to help bring new disruptive and innovative start-ups into market in Australia and potentially overseas.

“The North and Mid North Coasts are home to some truly innovative thinkers with cutting-edge business ideas,” he said.

“Our Government’s Entrepreneurs’ Programme is designed to help innovative start-ups grow and commercialise their business ideas.

“The $250,000 Federal grant to Insurtech Gateway Australia will help it establish here, and in turn, Insurtech will help other suitable start-ups to implement successful pilots and become successful businesses.”

Insurtech Gateway Australia CEO Simon O’Dell said the successful grant application was validation of the Gateway incubation model and early success onboarding two businesses with applications for global scale.

“The Gateway incubation model helps insurtechs fast track their entry to the market, removing the traditional barriers to entry in a highly regulated market and providing founders with mentoring, seed funding  and access to insurance providers,” Mr O’Dell said.

“We have two very exciting projects in incubation, including a pay-as-you-drive motor insurance offering and a world-class bushfire risk modelling tool.

“We also have a strong pipeline of opportunities and this grant provides our portfolio founders with greater certainty in expediting product-market-fit locally and the replication model into the UK.”

Insurtech Gateway Australia is a Sydney-based organisation with additional offices in Coffs Harbour and Brisbane and connection through to the London business. A facilitated replication model through to the UK, where insurance has known its home for several hundred years, will ensure Australian founders are presented with the best opportunity to realise global scaling into a sizable market.

The Gateway is also looking to establish roots on the ground in the US and Asia.

For more information on the Australian Government’s Incubator Support initiative visit the Australian Government’s Business website.

Since 2016, the initiative has provided $22.2 million in funding to new and existing incubators, which have in turn supported more than 1100 Australian start-ups.

Media Contact:

Liz Spry – 0418 928 744