The Studio celebrated its first birthday by announcing that resident startups had raised upwards of A$26 million since Australia’s Media Technology Startup Hub, opened its doors.
38 high growth startups and 135 residents occupy The Studio, a not-for-profit incubator for media, entertainment, communications and creative industries.
Since opening offices in The Studio, resident companies have been able to acquire global customers such as Warner Brothers, Red Bull, Amazon Studios, Weta, Bloomberg, Reuters and many more.
The Studio’s founder and CEO, Chantal Abouchar said these examples demonstrate how important it is that Australia’s outlook for the media technology industry must be global.
“Our model is creating a critical mass of startups tackling the global problems in media and creative industries, and our unique not-for-profit model brings in partners who can help transform their chances of success, like Animal Logic, Dolby and UNSW,” she said.
“We’re creating a community who are supporting and growing our startups, helping connect them with industry, research and investment. Australia’s media industry has historic form globally and The Studio aims to ensure that tradition is set to continue.”
One resident, Oovvuu, arrived as a team of four, and are now scaling fast and have raised in excess of A$11 million.
Oovuu automates the process of matching the right video with relevant media stories, and now have 120 of some of the world’s best broadcasters and publishers using their platform.
Ricky Sutton, Oovvuu’s CEO said: “We started the company on my lounge-room floor and our first office was a basement with no windows. The Studio saved us from that. It’s become our home. We have made friends, met amazing contacts and love being part of a new and thriving media-tech economy based on creativity and community.”
Monarc Media Labs are developing new immersive and interactive audio products having recently received commitment for over A$4million in investment from a Chinese multinational.
Founder and CTO Joseph Narai sees the value of being located in a collaborative community like The Studio, “The connections to other media-tech startups and entrepreneurs, universities and larger industry players are really important to us. The cross pollination of ideas and our collaborative research combined with a strong manufacturing partner in China will deliver some exciting new audio products into a growing global market.”
David McKeague, The Studio’s expert-in-residence and co-founder of Curious Thing, a conversational AI startup who recently raised A$1.5 million, said: “Conversational AI opens up a new category of media that The Studio uniquely enables. Machine driven digital interviews unlocks a new way for enterprises to connect to employees at scale.”
The Studio is industry agnostic and supports the development of companies using advanced new digital media tools and technologies like Virtual and Augmented Reality, Surround Sound, Wearable Computing and Artificial Intelligence.
The Studio’s unique focus is a significant contributor to the Australian economy and is directly accelerating the creation of new high-value jobs, brands and intellectual property on a global scale.
For interviews with startups or The Studio, please contact:
Carol Friel-Evans: firstname.lastname@example.org
Mobile: 0406 435 272