Creating great hardware products is hard! You need support on demand.
Having a great product idea does not automatically mean a great business. The Melt ACCELERATE is everything startups need to build great hardware products whilst ensuring the business model is sound, sustainable and successful. Plus, it is ‘always on’ meaning you can get flexible support to accelerate at any time of the year. Apply today to join The Melt ACCELERATE.
What is The Melt ACCELERATE?
Investment
Successful startups receive up to $150k of investment through Melt Ventures with the opportunity for future follow-on investment of up to $1m.
Process
The Melt’s 4P process: Prove, Prototype, Pilot and Produce focuses on the least-riskiest path from ideation to product development success.
Tools and Services
On-site access to The Melt’s extensive range of additive/subtractive manufacturing and mechatronic tools plus design software will bring your vision to life. Together with support from skilled technicians, engineers and designers, these services are often out of reach for most startup companies.
Networks and Expertise
Work alongside likeminded hardware startup founders and with our industry partners, mentors and trusted service providers during the product development lifecycle.
Linkages
The Melt promotes a “home-grown” in Australia approach to development of hardware products, but we also have linkages to access offshore expertise to help you build competitively at scale.
Benefits to a Startup
Investment
Successful startups receive up to $150k plus the offer of up to $1m potential follow-on funding, with best-in-market investment terms provided by Melt Ventures
Prototyping lab and productioneering support
Access to The Melt’s extensive range of productioneering equipment with support from skilled technicians, engineers and designers at affordable and even potentially at no cost!
Expert mentorship
The Melt’s dedicated team of high-quality mentors focus on product development, life cycle analysis, customer sales, commercial modelling, and pilots for large scale production to accelerate the success of your business.
Direct access to strategic partners
Access The Melt’s trusted group of strategically significant partners, alumni community and investors with connections to customers and capital.
Local and global network
Access Australian and offshore expertise to help you build competitively at scale. Unique pathways to access capital and mentorship in North America, Asia and the broader global markets.
How does The Melt ACCELERATE work?
The Melt is a rolling intake program. Typically, it does not run cohorts or have a fixed duration. This means that applications can be submitted at any time and that founders don’t need to be based in The Melt space full time (although we would encourage it).
Fortnightly meetings with The Melt program manager and mentors keep the business on track and founders focused on the issues that matter most.
Startups are provided with an initial tranche of investment funding. With the full support of the Melt experts and mentors, startups will progress through The Melt 4P product development process with a predefined set of deliverables and objectives in each phase. Further funding is deployed as the startup completes each stage.
Prove
Validate the business model, evaluate technical risks and build a business case for further investment.
Prototype
A looks like/works like prototype is developed.
Pilot
Prototypes are piloted with real customers to gain valuable insights and prepare for manufacturing at scale.
Produce
A design for manufacture process ensures the product is ready for large scale, low cost manufacture and distribution.
Who is it for?
The Melt ACCELERATE is for early stage startups that are building a hardware product, typically with mechatronic or embedded software elements. Startups may enter the program at an early stage, for example, prior to any prototypes having been developed, or at a later stage, for example where small trials have been conducted and the product is ready for large scale manufacture.
FAQs for Startups and Scaleups
A hardware accelerator specifically focuses on supporting founders who are creating a business that involves building physical products (usually mechatronic hardware). Physical product development has inherent risks related to the extra cost, time and complexity involved in building these products. Melt Accelerator provides funding as well as a structured process and expert linkages to help founders prove, prototype, pilot and produce their products as efficiently as possible.
Typically, we are looking for electronic or mechatronic type products. Think IoT connected devices, climate tech or cleantech solutions or products that require advanced manufacturing. But if you aren’t sure, pitch it to us! We’re open minded and we’re here to help.
Absolutely. The Melt ACCELERATE is Australia’s only hardware focused accelerator and this is a unique opportunity to leverage expert support to get your product idea off the ground.
Investment
Successful Startups receive up to $150k of investment through the program with the opportunity for further follow-on investment of up to $1m.
Process
The Melt’s 4P process: Prove, Prototype, Pilot and Produce focuses on the least-riskiest path from ideation to product development success.
Tools and services
On-site access to The Melt’s extensive range of additive/subtractive manufacturing and mechatronic tools plus design software will bring your vision to life. Together with support from skilled technicians, engineers and designers, these services are often out of reach for most startup companies.
Networks and Expertise
Work alongside likeminded hardware startup founders and with our industry partners, mentors and trusted service providers during the product development lifecycle.
Linkages
The Melt promotes a “home-grown” in Australia approach to development of hardware products, but we also have linkages to access offshore expertise to help you build competitively at scale.
You can enter at any phase and we’ll direct you to The Melt program that is right for you.
Read on for a cheat sheet:
Prove Stage = The Melt ENGAGE:
Your product / business is at the ideation stage. In this phase The Melt will first seek to validate the business model and understand the technical risks of the project. A comprehensive business case for further investment is developed.
Prototype Stage = The Melt ACCELERATE:
Your product idea is already validated and is now ready for a looks like/works like prototype to be developed.
Pilot Stage = The Melt NOVA:
You have a prototype that is now ready to be piloted with real customers to gain valuable insights and prepare for manufacturing at scale.
Produce stage = The Melt NOVA:
The product is ready for large scale, low cost manufacture and distribution. The produce stage ensures that input costs are optimised and all logistical aspects are considered, such as packaging, quality assurance, regulatory compliance and distribution efficiency.
Once your expression of interest form has been submitted, Melt Accelerator will contact shortlisted candidates to request an introductory meeting. Following this meeting, startups are required to present a set of prerequisite deliverables to secure entry into the program.
- Business model on a Lean Canvas
- Pitch deck
- Technical risk analysis – An assessment of the technical risks related to building your physical product. This will be performed in conjunction with an independent domain expert nominated by Melt Accelerator
- Trademark and patent planning – An initial report by a Melt Accelerator nominated partner relating to establishing and protecting your IP
No, you will own all of your IP.
The program has a rolling intake, rather than a typical cohort based approach. When Startups apply, they are evaluated on their merits and suitability to join the accelerator program. Successful applicants will commence the program as soon as all prerequisite deliverables have been submitted.
$150k of funding during The Melt ACCELERATE program with the opportunity of further follow-on investment of up to $1m.when the product is ready to scale.
More info on Melt Ventures
Yes, the expectation is that you will be available to work on your business full time once you are accepted into the program.
They don’t! The Melt Accelerator is a rolling intake so we are constantly evaluating startups for entry to the program.
The Donald Horne Building, The Melt Modern Manufacturing Centre, 140 Bridge Street, Muswellbrook, NSW 2333
If you have more questions, please reach out to contact us via info@themelt.io or via the contact form.