What is FUELD?


Data is the fuel of the future, providing the opportunity to solve business and consumer problems in ways we can’t yet imagine.
FUELD is Westpac Group's industry-first data accelerator, which aims to connect today’s businesses with tomorrow’s innovators to help solve problems and create opportunities.
The FUELD accelerator program will allow eight Australian startups or scaleups to harness a wide range of anonymised, tokenised data and be guided by world-class mentors to rapidly develop, test, and commercially launch new data-driven products that will drive Australia into the future.
FUELD will help data-focused startups and scaleups realise their potential by providing:
  • Access to data via Data Republic, including free access to anonymised, tokenised Westpac Group data
  • A 12-week mentorship program, led by Program Director Murray Hurps, the former CEO of Fishburners, and co-founder of Startup Muster, to support taking their concepts to the next level
  • Participation as part of an elite cohort in Stone & Chalk Sydney’s collaborative office space
  • Up to $100,000 in hosting from Amazon Web Services (AWS)
  • Investment of $50,000, through a SAFE note
  • Networking opportunities with Westpac Group experts and customers.
FUELD is an initiative led by the Westpac Group, in partnership with data exchange leader Data Republic, Australia’s most experienced FinTech innovation hub Stone & Chalk, infrastructure giant AWS, and pioneering business mentors and VC investors ReInventure.

Who should apply for FUELD?


Aspiring startup or scaleup teams, with up to six members, who have:
  • Business concepts that address one of the Problem Inspiration Areas below, or another compelling area that could leverage data sources available on Data Republic
  • Significant data experience and domain experience relevant to their business concept
  • The drive to launch and build a scalable startup or new service using the Data Republic platform

Key dates


October 6
Applications open
October 16, 17:30 - 19:30 AEDT
Melbourne showcase
Registration closed
October 17, 17:30 - 19:30 AEST
Brisbane showcase
Registration closed
October 19, 12:00 - 14:00 AEDT
Sydney showcase
Registration closed
October 30
Applications close
November 8
Bootcamp finalists selected
November 14 - 16
Three-day bootcamp at Stone & Chalk Sydney
November 17
Successful applicants selected
November 27
Accelerator program kicks off
March 2, 2018
Accelerator program completes

Problem inspiration areas


These areas are some examples of solutions that could be developed using existing data on the Data Republic platform, but we are open to applications outside these areas.

Retail Mix
How might you identify optimal new store locations…
For example: So that retailers or commercial planners can maximise customer uptake.
Health Services
How might you forecast likely customer health & wellness needs…
For example: So that local government or insurers can optimise their provision of services.
Property Development
How might you enable property developers to better understand the needs of their future customers…
For example: So that they know when and what to build to optimise their returns.
Automated Payments
How might you identify a customer’s propensity to honour direct debits and recurring payments…
For example: So that companies can better target offers and plan their cashflow.
Property Valuation
How might you algorithmically determine commercial and residential property values…
Using new data sets that aren’t reliant on auction and sales values.
Indicators
How you might provide real time macroeconomic indicators from transaction data…
For example, real time GDP growth data, which could be broken down by geography or sector
Your choice
What’s the incredible data problem opportunity that you’ve identified?
…That will be fuelled by access to new data sets on the Data Republic platform


Data accessible to FUELD participants


A range of anonymised, tokenised Westpac transactional data will be accessible to participants for free for the duration of the accelerator, via the Data Republic platform. Anonymised, tokenised data from a large number of other suppliers is also available, although there may be costs to access these.
Examples of anonymised, tokenised data-sets FUELD accelerator participants will have access to on the Data Republic Platform
  • Credit card expenditure data linked to merchant shopped
  • Mobile device location data for 2 million devices
  • House buying and renting behaviours
  • Car buying behaviours
  • Indicators of involvement in career change process
  • Profiles of Australian households and their behaviours
  • Customer travel intent, lifestage and lifestyle personas
  • Declared age, lifestage, home ownership and car ownership information
  • Company information including financials, company structures and market research
  • Consumer segment information for consumers aged 50+
  • Australian property and resident analytics
  • Helix consumer segmentation at small area level
  • National database of business and ATM locations
  • Agency-reported expenditure data on media channels
Data Republic allows organisations to securely manage data exchange projects through built-in legal governance workflows and the secure provision of deidentified data with full encryption, network segregation and continuous hardening principles applied to isolated workspace environments.

Frequently asked questions


How much will FUELD invest? On what terms?
The eight teams selected to enter the FUELD accelerator will each be offered a $50,000 investment via a SAFE note, with a cap to be negotiated, and a discount rate of 20%.

How are applicants selected?

Fifteen teams will be chosen to attend a finalist bootcamp based on their application. Successful applicants will be notified no later than Wednesday November 8.

The bootcamp will take place from Tuesday November 14 through to Thursday November 16 at Stone & Chalk in Sydney. Eight teams from this bootcamp will then be chosen to enter the accelerator program.

The FUELD Accelerator is a 12 week program that will commence Monday November 27, 2017 and complete Friday March 2, 2018.

Startups will be given a break of 2 weeks for Christmas, commencing COB Friday 22 December, 2017 through to Monday 8 January 2018.


We have been working on our startup for a while, is the FUELD program appropriate for us?
Yes! We have room for both startups and scaleups.

Can we partake in the program without being based in Sydney?
Ideally teams will be able to attend the entire program in person, however, in exceptional circumstances, we will consider teams who can’t join in person for the entire period.

What’s the deadline for applications?
All applications need to be submitted by October 30th, 2017. Any submissions after that will not be considered.

How does Data Republic manage and secure data?
Data Republic allows organisations to securely manage data exchange projects through built-in legal governance workflows, and the secure provision of de-identified data. They use full encryption, network segregation and the application of continuous hardening principles to create isolated workspace environments.

What's involved in the program?
The program is an intense 12 weeks where participants have the opportunity to be part of a cohort of eight startups all working hard to progress their ideas. While immersed in the program you will be offered tailored mentoring and access to the best experts to guide your business development. We’ll also be offering a range of educational resources and tools tailored to the participants in the program.

Other questions? Get in touch at hola@fueld.com.au