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Australian startup snapshot: Tapestry

Adam Bender | April 2, 2013
Startup serves social media to less digitally literate seniors.

The two-year old company has been working out of the Fishburners co-working space for the last 14 months, and is one of seven companies sharing the Ultimo building's ground floor.

"It's a good environment for startups and very connected to the startup community here in Sydney," said Dowling.

"The advantage of a co-working environment is you get not just socialisation but the opportunity to find what other companies are doing and how they've addressed particular problems."

Startup scene

Dowling, who also mentors startups with Startmate, has seen improvement in Australia's startup scene in recent years. For example, he has seen more smaller-scale startups get going with less funding, he said.

"What is a challenge for Australian startups is not the angel money ... but the next-stage growth, when companies get to that point where they need to raise $3 million to really expand internationally," Dowling said.

"The venture scene in Australia is very, very small compared to the US," so many companies are moving overseas, he said.

Tapestry plans to travel overseas partly due to funding opportunities, but mainly because it wants to better learn how the American aged care market works.

 

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