Up-and-coming entrepreneurs in a University of Queensland accelerator program are being given access to expert legal services and will only have to pay the bill if their startup is a success.
Entrepreneur in Residence Ran Heimann said each startup company selected in ilab’s six-month Germinate Plus would pay back legal fees only when they had raised $500,000 in investment.
“Should the startup fail, they don’t pay a cent,” Mr Heimann said.
“We see too many founders making simple mistakes because they can’t afford to get the right advice,” he said.
