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One of the most successful accelerator programs in Australia and New Zealand has seen a leadership shake-up as Startmate's longstanding CEO Michael Batko steps down from the role, where he has overseen countless investments from non-alcoholic beer icon Heaps Normal through to climate-tech materials trailblazer Uluu.
Batko has been with Startmate for half its existence since the community was founded by Blackbird co-CEO Niki Scevak in 2010, joining as head of operations in March 2018 before his promotion to CEO at the end of 2019.
His successor Phoebe Pincus, who takes on the CEO title effective immediately, follows a similar progression after four years with the group - first as chief of staff and more recently as chief operating officer since mid-2023.
"Building Startmate has been the privilege of my career," Batko explains. "I'm proud of what we've built together and confident that Phoebe is the right person to lead Startmate into its next chapter. She's been instrumental in shaping what we are today, and I'm excited to watch what she builds next."
Over the course of Batko's time with Startmate the group has raised more than $50 million, backing 228 companies with first cheques and a further 100-plus follow-on cheques, making it the most active seed fund investor in the country.
In that time Startmate itself has seen revenue grow from $200,000 annually to more than $3 million as a profitable self-sustaining business, while its yearly venture capital (VC) raised has gone from $1 million to $7 million.
Starting from just an accelerator, the outgoing CEO has helped more than 1,000 women and 2,000-plus students into startups, launching a pre-accelerator Launch Club and angel investor program, First Believers.
This has helped make Startmate an ecosystem in its own right, creating a centre of gravity for founders and investors.
"To say Batko left Startmate in a better place than when he took the reins would be an embarrassing understatement," says Scevak.
"Batko literally re-founded Startmate, and Australia thanks him for it. And the impact he’s made in the last eight years will continue to snowball into the future.
Other iconic Australian companies backed during his tenure include Amber, Mindset Health, Vexev, Clipboard, VXT, Uluu, Sicona, Telecare, Clutch, Lyrebird, Venu, JustFund, Andromeda, Aquila, Keeyu and Fluency.
"Eight years is a long time to lead anything. I never thought I’d stay anywhere this long," says Batko.
"I joined Startmate to learn how to build my own startup, so I truly overstayed that purpose. I’ve learned so incredibly much over the last eight years, but now I’m ready for my next big challenge and chapter of my career.
"I’ll be taking a good few months to reflect and spend time with my family. I want to find something I can dedicate my next 10 years to, so I’m in no rush."
In the meantime he plans to exec-coach other CEOs - shadowing them, sitting in on all their meetings for "an intense, real-time week of coaching".
"This will be a fun interim challenge to impart my hard-earned lessons, whilst seeing how other CEOs operate in their day-to-day," he says.
Batko describes Startmate as an "incredible place" with its 300-plus founder alumni, its culture, people and community.
"I’m super proud of everything we’ve achieved at Startmate, and equally excited for its future under Phoebe’s leadership," he adds.
"It is an epic team with oversubscribed funds, having invested in and built on the shoulders of incredible alumni. I’ll, of course, remain the biggest Startmate supporter and in the community forever."
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