How Xero’s Beautiful Business Fund is Empowering Small Businesses to Change the World
Launched in 2023, the fund has already helped a number of startups, nonprofits and SMBs achieve their growth goals.
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The Xero Beautiful Business Fund is helping small businesses get the financial support they need to take their truly innovative ideas to the next level and fund their long-term missions. Launched in 2023, the fund has already helped a number of startups, nonprofits and SMBs achieve their growth goals.
This year’s Australian category winners received $20,000 in funding, with an additional $50,000 given to the global winners in their categories. Among them, Other Matter and Prosthetic Art Technology collected both country and global accolades in the ‘Innovating for environmental sustainability’ and the ‘Trailblazing with technology’ categories, respectively. We were lucky enough to chat to both companies about how the right funding can be the ignition you need to spur your entrepreneurial ambitions.
Other Matter: Pioneering sustainable decals
At the heart of Other Matter is a firm vision of a post-petrochemical world. Founded by Jessie French, the company has developed a revolutionary algae-based polymer to replace traditional vinyl decals, which are used for advertising, signage, decorating shopfronts and more. Not only are they fully recyclable, but they also intend to enable a more circular lifecycle for the product to reduce waste and emissions — a groundbreaking solution in an industry that’s traditionally been heavily reliant on petrochemicals.
“Other Matter really started as an art practice, envisaging what a post-petroleum world would look like,” French says. “Whenever you design an exhibition, you end up ordering vinyl lettering for displays. My work was about materials and their impacts, so there was no way I could use vinyl as the medium to describe my work. That’s where Other Matter started, because the material I made was successful [as an alternative to vinyl decals] and had multiple applications.”
French says the impetus for applying to the Xero Beautiful Business Fund was so that Other Matter could fund the resources necessary to scale up their operations. Having taken out the top prizes in their category, their ability to transition to a more automated way of working is now attainable.
“At this point in where the business is at, the funding really means a lot,” she says. “We’ll be focusing on how to scale up this innovation, moving from a handmade process to a machine-based one. Our vision is to create a viable solution for anyone who’s looking for a sustainable and environmentally responsible alternative to vinyl lettering and signage.”
Scaling production isn’t without its challenges, as French acknowledges: “It’s not just about creating a whole new material. It’s about creating a whole new system of use for that material. A big part of it is also making sure that it still has a circular recycling system. So it might take a little while, but we’re really leaning into doing it the right way.”
Blending art and science with Prosthetic Art Technology
For Sophie Fleming, director and clinical anaplastologist at Prosthetic Art Technology, her work is deeply personal. “Prosthetic Art Technology was born out of a need and a love for the work about 20 years ago,” Fleming says. “Unfortunately, in Australia, there are no funding schemes for facial prosthetics and very few providers. That makes it incredibly hard for people to access these services.”
From their base in regional New South Wales, Prosthetic Art Technology crafts custom silicone prosthetics that restore normalcy and confidence to people who have lost facial features or limbs. Combining artistry with cutting-edge technology, the company is a pioneer in the field.
“The prosthetics we make require artistic skills for them to be functional. For them to work, [the craftsmanship] has to be invisible,” she says, adding that they almost missed the deadline for applying to this year’s Xero Beautiful Business Fund.
Fleming says she and her team decided to apply because the company had run out of funding runway. In order to expand and adapt to a rapidly evolving niche market, they need technologies and tools that can super-charge their digital capabilities. The funding they’ll now receive will help Prosthetic Art Technology upgrade their key modelling software, buy a new 3D printer, research new 3D scanning technology and more.
“There are three tools that are integral for creating a true digital workflow: sculpting, printing and scanning. For example, the new scanners mean that we can potentially make digital copies of anatomy rather than taking a physical impression with that person.” What that means is that the client isn’t required to be stuck in a chair getting scanned for extremely long periods of time. Instead, Fleming says, using new technologies means “we can duplicate processes really easily — and potentially even remotely”.
Such a major overhaul of their processes will also have a profound impact on quality: “The tools will support our artistic workflow in a way that frees us up to do the beautiful sculpting and colouring aspects, as well as improve the quality-management aspect of the aesthetic production process,” Fleming says. “It’s this beautiful mash-up of digital and old-school, which I love.”
Empowering small business innovation
Both winners say the transformative impact of winning the Xero Beautiful Business Fund will put them on the fast-track to scaling up and re-energising their future plans. For Other Matter, it’s a step towards expanding their environmentally responsible innovation. While for Prosthetic Art Technology, it’s about enhancing the artistry and accessibility of life-changing prosthetics.
For any business owners considering applying for funding, French says it’s well worth the effort: “At a time when a lot of state and federal governments are really cutting back on business funding, I think now more than ever it’s an incredibly crucial small business support.”
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