What can BIG do for your professional services practice?
BIG is Australia’s most professional Innovation Hub. It was built by professionals for professionals to assist clients better meet their needs when commercialising innovation and intellectual property and growing their start-up companies.
Many professionals have clients who are innovators, entrepreneurs and inventors, but are rarely able to provide all the professional support they need to succeed.
BIG provides a pathway to the Innovation Hub for lawyers, patent attorneys, accountants, engineering services, industrial designers, digital agencies and others to refer clients and to extend their professional service offerings.
Importantly, BIG provides the opportunity to not only increase revenues from your existing products and services through referrals, but to move from a fee-for-service revenue model to a broader revenue model. For the first time, you can participate in your Clients’ commercial success. This hybrid revenue model provides not only longer term revenue opportunities, but through the creation of shareholder value for your Client, also increases the capital value of your firm.
Co-branding with BIG
By becoming an Accredited Professional Partner of BIG, you access all of BIG’s professional services to compliment your own product and services offering to Clients.
You can now be seen to offer the full range of services to innovators, entrepreneurs, early-stage companies and Client seeking to commercialise their new products, innovation and technologies.
BIG Professional Services
|Product or Service||Available only to Portfolio Companies|
|Patent and Trademark|
Professional services are provided to Portfolio Companies by BIG and its Accredited Professional Services Partners.
BIG Portfolio Companies
A key advantage of becoming an Accredited Professional Services Partner of BIG is the opportunity for your Clients to become a BIG Portfolio Company.
Portfolio Companies are those having disruptive innovation or game-changing technologies. BIG provides its Portfolio Companies with a comprehensive package of professional services, capital raising and an embedded team of commercialisation advisers.
With a portfolio of more than 10 early-stage companies already now on the path to commercial success, we know what entrepreneurs need to succeed.
Where one of your Clients becomes a portfolio Company of BIG, your professional practice enjoys the following benefits:
- Equity allocation as the referrer
- Engagement to provide the professional services that represent your core competency on an on-going basis
- Investment funding for your Client
By becoming a Accredited Professional Services Partner of BIG, you join a group of like-minded professionals passionate about innovation and driven to ensure your Clients’ success.
Five Benefits of becoming an Accredited Professional Services Partner of BIG:
1. Generating new revenue streams by adding our early stage business products to your service offering.
- Service a greater spectrum of the needs of your firm’s Clients
- Retain Clients and avoid referring them to competitors or to unrelated businesses outside your core expertise
2. Becoming part of a larger professional network
- Join a professional service network of innovation specialists
- Enjoy cross-referral work from within the BIG network
- Attend our exclusive networking events
3. Securing capital for your Client will enable them to purchase more of your professional services
- BIG is supported by capital partners that seek access to the BIG’s quality deal flow, recognising that good investment opportunities are carefully selected, risk minimised and that BIG provides a managed execution with embedded commercialisation advisers, technology and industry specialists embedded with your Client to ensure commercial success
- Capital sources available to your Clients include:
- High net worth angel investors
- Professional investors
- Capital partners
4. Secure carried equity in the early-stage businesses of your Clients
- Where your Client’s innovation or early stage company qualifies as a Portfolio Company of BIG you are provided an equity stake
5. Align your firm with Australia’s most professional Innovation Hub operating a successfulIincubator and Early-stage Company Accelerator
- Position your professional services firm as commercially-orientated, receptive of innovation and understanding of the needs of early-stage businesses
How it works
There is no cost to become an Accredited Professional Services Partner. The process to join BiG is described on the Join BIG page of this website.
The following examples shows how BIG can work to benefit your professional practice:
Example Client Case
You are an accountant and your long-standing Client, Geoffrey Smith, makes an appointment. You have been looking after his personal affairs and small business, including financial accounts and BAS returns for years.
Geoff advises that he has invented a revolutionary new plumbing valve fitting that he wants to get into the hardware chains and plumbing supply distributors. He asks for your professional assistance to protect his intellectual property, commercialisation advice and he needs $300,000 capital for a prototype and business development costs.
Lacking a detailed understanding of IP protection, no patent attorney relationship, no capacity to invest long-term advisory services and limited contacts to access capital or investors, what do you do? You advise Geoff you are unable to assist in these areas and, perhaps, he should consult a patent attorney.
Your Client walks out the door unsatisfied. He is left to find a patent attorney and pursue other avenues himself. If he is successful, there is every likelihood you will lose Geoff as a Client altogether, given his new advisory firm and investors have no existing relationship with you and they will now control the Client.
Instead, and as an Accredited Professional Services Partner of BIG, you can refer Geoff with confidence and join with us as we meet later in your office and talk through the relevant BIG professional services he needs.
You now have the confidence that Geoff will be contacted by BIG within 48 hours. His product innovation and technology is assessed by BIG for investment, within a few short weeks he has a Provisional Patent drafted and filed, he is in front of one of the BIG Technology Exchange Partners (for example, a major national plumbing supply distributor and retailer) for a fast decision as whether to take on his new plumbing valve fitting. Geoff is now on the right path to commercial success.
Importantly, you also have the confidence that Geoff will remain your Client, that you own the Client relationship and you will be informed by BIG of his progress and able to participate in the Management Meetings of the Portfolio Company, becoming a key adviser to the business.
All done and dusted within 30 minutes – professionally and successfully – now you have a satisfied Client.
Where your Client requires Seed Capital or a Series A, B or C Capital Raising, BIG will pay a percentage of investment funds raised to each referring Accredited Professional Services Partner.
Your firm participates in the creation of shareholder value:
All Client referrals to BIG are quickly assessed by the BIG team to determine their suitability to become a Portfolio Company.
If your Client meets the criteria of the Investment Committee to become a BIG Portfolio Company, your professional services firm secures a carried equity position in their business under our Portfolio Company Agreement.
BIG encourages (but does not require) referring Accredited Professional Services Partners to participate on the board of the Portfolio Company and in the weekly Management Meetings to maintain the primary relationship with your Client.
Your firm gains an advantage when your Clients are funded with capital:
When your Client becomes a BIG Portfolio Company or where BIG raises capital on their behalf, those funds become available to purchase more of your professional services on a commercial basis.
Branding to better position your professional services firm:
As a Accredited Professional Services Partner of BIG, you may elect to co-badge your logo / website / marketing collateral with the BIG logo to better position your firm as part of the Innovation Hub and position your own practice as better meeting the needs of Clients who are Innovators.
Competitive advantage by better positioning your professional services firm:
With BIG by your side and complimenting your own products and professional services, your practice will be regarded as a market leader in innovation and as having the unique and comprehensive set of professional service offerings that all entrepreneurs and innovators require for success.
There is no comparable Innovation Hub.