PlusEight partnership a continued success for DFK Gooding Partners
Spacecubed’s Plus Eight program has wrapped up a spectacular 2021, sling-shotting six dynamic Perth start-ups onto the national and international stage. 2021 marked the 6th year DFK Gooding Partners has partnered with the nationally recognised startup accelerator.
Launched in 2016 by WA’s leading technology hub, Spacecubed, Plus Eight is a seed-funded accelerator program aimed at top tier startups in the early stages of business growth. An annual program, PlusEight encompasses a 6 month bootcamp that includes access to industry best mentors, resources to maximise business growth, and startup capital, that essential ingredient for taking an idea from the runway into reality. The program culminates in the infamous Plus8 Demo Night, where participating startups pitch for capital to a range of investors for capital funding.
As always, 2021 included a diverse mix of startups. Covering everything from reinventing access to food at large scale events, to mind bending fully immersive VR experiences, the graduating cohort were Snackr, Wolfit Box, The Tooth Market, Tender Relief, IDEA, and Ready Team One.
Over the duration of the program, DFK Gooding Partners provided financial mentoring, through weekly sessions with founders and teams held by Senior Manager Ben Clarkson. ‘In the initial excitement of a startup, setting the correct financial practices for the business are often overlooked’ says Ben, ‘areas like cash flow management are incredibly important to ensure your runway is maximised, and investors feel confident in the team. We’ve got a wealth of experience with early stage growth businesses in Perth. We understand the challenges of the landscape and can also provide areas of non-financial advice’.
The 2021 Demo Night, held as part of West Tech Fest, saw the 2021 cohort raise an impressive $800k from a packed full house in the FLUX basement in the Perth CBD. Since inception in 2016, PlusEight has invested over $1.5M in startups, and has created an additional $12M in follow-on investment, with a total portfolio valuation of $101M.
DFK Gooding Partners Managing Partner Stephen Bushell believes the time is right for Perth startups to shine. ‘The Perth start-up scene may still be small by global standards, but with our GMT Plus Eight-time zone, and geographic attractiveness for a range of high growth industries, there is still huge growth potential yet to be unlocked in this space. Our commitment to partnering with PlusEight since the program’s inception reflects this belief. We look forward to what 2022 holds ahead for program and startup scene in Perth’.
You can read further about the PlusEight here