Techbench Capital - Australia’s first VC as-as-Service company
Updated: Oct 9, 2019
Australia’s 1st VC as-a-Service company launched this month with the mission to help solve big problems by leveraging Israeli innovation.
I’m excited to share my vision and reasons for founding Techbench Capital in Australia.
Techbench is a new model for venture capital companies. We help corporate innovate by providing a full external innovation services starting from understanding the corporate strategic challenges, through discovering the most relevant startups, to managing investments and partnership relationships. We also offer startups investment portfolio management.
On the other side we help startups with their fundraising needs from early stage to IPO’s and market development including distribution and local representation. Effectively we do, what in many cases, a traditional VC does but without the need to raise a fund and charge, in addition to a share in the profits, an annual management fees (typically 2%).
The advantage of our VC as-a-Service (VCaaS) model is that we don’t raise a fund that is limited in time (typically 10 years). This allows for a longer view, which often is needed for deep-tech, and better strategic alignment between investors and startups.
We also let the investors and corporates be in control throughout the discovery, investment and portfolio management phases, maximising both their strategic and financial returns. With our VCaaS model corporates choose the level of involvement while benefiting from a one-to-one relationships with startups.
Our partners include leading universities, corporate innovation units, venture capital firms and accelerators and incubators. With them we constantly monitor and assess new developments in key sectors with social impact.
Techbench allows for technology benchmarking and collaboration opportunities. We strive to
share the knowledge and experience between the different ecosystems. For example, the cultural differences between and entrepreneurial characteristics of Israelis and Australians.
We focus on Israeli leading innovations which we identify as having strategic importance to and challenges in Australia. This includes: Agritech where Australia needs to double its output by 2030. Healthtech where Australia needs to move to a completely new healthcare model and services. Cyber Security where Australia has a growing needs for skills and expertise. And Watertech where Australia is facing higher frequency of draughts leading to severe water scarcity.
Having worked in Intel Capital and many other tech ventures in Israel, the US and Australia in the past 25 years, I’m convinced that without a strong global perspective and multinational involvement, Australia would not take its place among the top innovative countries. I founded Everything IoT in 2015 to put the focus and propel innovation in the Internet of Things.
With Techbench we use our global experience and connection to bring innovation from some of the most successful ecosystems in the world focusing on deep-tech, solving big problems with social impact.