New York or Spain sound nice? Accelerators seeking Australian start-ups to launch

Two international accelerators are seeking Australian applications for residential programs in New York and Valencia, Spain.

The two programs are designed to attract entrepreneurs and encourage them to hire staff in their cities.

The HELM NYC competition stands for Hire and Expand in Lower Manhattan.

Up to four winning companies will receive a $US250,000 ($A269,000) grant for their rental payments or working capital once they open up offices in Lower Manhattan.

Another four runners-up will receive a $US50,000 grant for rent and working capital while 12 finalists will receive $US10,000.

Like many start-up initiatives, they’re looking for tech companies, but also for design, fashion, media, architecture or other creative industry companies.

The program is funded by the New York City Economic Development Corporation, the Lower Manhattan Development Corporation and funded through Community Development Block Grants from the US Department of Housing and Urban Development.

The high density destination is brimming with talent and would also put Australian entrepreneurs a quick flight from major investment and innovation hub in Silicon Valley.

In Europe, the Plug and Play Spain accelerator is a three-month program in Valencia between September and December.

The 500 selected start-ups will receive between €60,000 ($A86,000) and €200,000 as well as mentoring. The program is focused on tech start-ups.

Now in its third year, the accelerator is an initiative of the Plug and Play Tech Center in California, and has invested in 60 companies, now worth over $US150 million.

Applications close July 31, or when 500 projects are accepted.