Frank Lab

What is Frank Lab?

Frank Lab is a six-month program that offers legal support and networking opportunities to help selected startups (for profit and for impact) grow their business.

Background

Hall & Wilcox’s accelerator program for emerging businesses, Frank Lab provides legal support and networking opportunities to help selected startups grow their business. Throughout the whole program, successful applicants get to work with experienced lawyers as their trusted advisors to help prioritise their legal and commercial needs. They have regular meetings with their advisors and receive an initial $5000 to spend on legal services.

By participating in Frank Lab, companies will receive 50 points of the 100 points required to qualify as an Early Stage Innovation Company (ESIC). Investors in eligible startups receive significant tax incentives, such as an immediate tax offset or rebate equal to 20% of their investment, capped at $200,000 in each income year, and can access modified capital gains tax treatment for their shareholding.

As an additional benefit, Frank Lab runs masterclasses for program members and provides them with access to Hall & Wilcox networks, including accountants and investors. They also get to use Hall & Wilcox office space nationally and the firm’s Smarter Law technology solutions.

Funding

As part of the six-month program, participants will receive:

$5000 to spend on legal services/documents.
Allocation of an experienced lawyer as your own trusted advisor.
Regular meetings to assist in prioritising your legal and commercial needs.
Access to space, technology and Smarter Law solutions.
Access to networks e.g. accountants, investors etc.

Eligibility

Frank Lab is for startups (for profit or for impact) that:

Solves a genuine problem or serves a genuine need (which definitely includes social impact-focused startups).
Has traction with customers or market validation.
Are preparing to capital raise.
Are looking to scale or move into other markets.

Applicants will be assessed based on the following broad criteria:

The problem you are solving/your value proposition.
Your team and people.
Traction and customers
Legal and other professional support likely to be required in the next 12 months.

Timing

Applications close 17 January 2020.

Latest Recipients

Ten businesses were selected to participate in Frank Lab 2020, which runs for six months (March to September). It follows the success of the 2019 program, which helped accelerate a broad range of businesses and entrepreneurs – from rocket engine engineers to contraceptive technology designers, from Neobank developers to social enterprise creators.

The Frank Lab 2020 businesses are:

Advice RegTech	An innovator and specialist in compliance-tech, with an initial focus on the efficient assessment of financial advice files and responsible lending reviews.
Communiteer	A crowdsourcing community that connects and mobilises volunteers to tackle the world’s greatest social challenges.
Mindset	Mindset is an iOS application that provides clinical hypnosis audio recordings on areas like anxiety, IBS, sleep and low self-esteem.
Modron	Provides dispute resolution software to courts, tribunals, governments, major retail brands, enterprise and professionals.
OutofBox Solutions Tech	Creates and delivers solutions for the agriculture and conservation sectors using Artificial Intelligence and IoT technologies.
PlastOil	PlastOil tackles the problem of plastic waste with a technological solution, which turns plastic waste into fuel.
QuietGrowth	QuietGrowth is a digital investment management service, which manages clients’ investments to achieve risk-optimised returns over the long term.
rePrecinct	Real estate precinct, ‘rePrecinct’, is a commercial real estate deal management platform. It allows commercial real estate landlords to more efficiently manage their pipeline of leasing vacancies.
The Father Hood	Designed to help dads survive and thrive in the only job that really counts. The Father Hood is a lifestyle resource that delivers information, inspiration and light relief, disarming dads with humour then arming them with life-changing strategies.
YiaYia Next Door	Imagine communities where people feel safe, and neighbours connect and care. YiaYia Next Door inspires, educates and innovates to help prevent family violence.

More Information

Source

What is the #1 grant for start-ups?

12,000+ companies access the R&D tax incentive per year that yields a CASH REBATE of up to 43.5%.
This might be perfect your start up.
Do you want to know more?

Bulletpoint is a Melbourne-based consultancy specialising in guiding businesses through the complex process of the R&D tax incentive. With a decade of experience under our belt, we’re proud to be led by Australia’s highest-rated R&D tax consultant. We’ve successfully lodged over 500 R&D claims, demonstrating a proven track record.

Our approach is straightforward and personable, focusing on cutting through the jargon to help businesses truly understand the definition of R&D in government terms. We’re passionate about what we do, and our clients appreciate this, often commenting on the difference our expertise has made to their businesses. They’ve praised us for uncovering grants they wouldn’t have otherwise known about and for making the whole process less stressful for them.

We’re proud to have an average rating of 4.8 stars from over 250 Google reviews. Despite our success, we continue to strive for improvement, learning from every piece of feedback we receive.

At Bulletpoint, we excel in helping businesses navigate the complexities of the R&D tax incentive process, ensuring they reap the benefits they deserve. As experts in our field, we’re well-versed in what works and what doesn’t when it comes to aligning businesses’ perceptions of R&D with the government’s eligibility criteria.

So, if you’re looking for accessible expertise and a proven success rate, you’ll find it with us at Bulletpoint. We’re ready to guide you through the R&D tax incentive process with a blend of professionalism and personality, ensuring your experience with us is not just successful, but enjoyable as well.