Ms Parker has run the telecommunication giant's start-up accelerator, muru-D, for close to three years and has invested in 44 businesses, 42 of which are still running.

"It's all about talent first and developing better entrepreneurs. It's sometimes a surprise for people to hear that, that Telstra isn't in this to make money, although that would be nice, we're not averse to making money, we're just being honest."

Telstra hopes that its investments will grow in value as well as add to its ambition to become a technology, not just telecommunications, company.

Ready to keep growing

"We've doubled our shareholding value in those companies who have graduated," Ms Parker said.

The muru-D six-month program gives the start-ups access to mentors and potential investors, as well as a network of partnerships the group has set up in China, Israel, New Zealand and USA. It also gives them access to some of Telstra's resources. Each of the start-ups pitched to Telstra chief executive Andy Penn last week.

"That's our job over six months, to make sure they're ready to keep growing, to keep scaling, either because they've generated enough revenue to fund their own growth, or they've secured a runway of funding that can get them through the next 12 to 18 months," Ms Parker said.

The initial base deal for start-ups is $40,000 for 4 per cent of the company, but they also get access to a network of mentors who may invest in the business.

Thinking global

Ms Parker, who also ran an accelerator program for Spain telecommunications business Telefonica, said the program's aim was to help develop the start-ups it selects so they have a better chance of going global.

"That's the end game, to try and get them to think globally from day one," she said.

"When they move in, in month one, they have to sign up to a milestone that we commit them to by the end of month three. They get the first $20,000 when they move in.

"They've set that midpoint milestone which is two pronged: one is based on traction and the other is that they have got to have convinced three other people to invest $5000 into their business.

"If they hit the traction milestone and the investment milestone by the end of the three months, they unlock a second $20,000 from us and they earn the right to carry on going through the second half of the program."

If they miss the milestone, they're out.

The big wide world

"This is not a charity, it is a business, and that's exactly how other investors will want them to behave when they're in the big wide world by themselves."

Entrepreneur in residence and Pollenizer co-founder Mick Liubinskas said it's harder for Australian start-ups to think global from the beginning, but it is something that needs to be ingrained.

"Australia is this mid-sized country, big geographically but small market-wise. A lot of our really big successes that employ lots of people, like ResMed, Cochlear, Atlassian, BigCommerce, Freelancer, were born global companies – whether that's into China, USA or Europe. I think another big thing we've added to the ecosystem is, How can you go global, and can we go global faster, bigger, better?" Mr Liubinskas said.

"A big part of what we've been working on is helping people get their first customers overseas. Over the last three years, we've done it remotely, via email and Skype and by flying in and out."

Silicon Valley way

The third round of start-ups to participate in the program were recently taken to Silicon Valley – including Abyss Solutions and Drive Yello.

"We met three or four potential clients there. They showed great interest, but on top of that we met with VCs in Silicon Valley. We visited accelerator spaces, generally grew our network and learned a lot more it," Abyss co-founder and director Masood Naqshbandi said.

The Sydney-based company combines underwater robotics and data analytics to help with the inspection and maintenance of underwater assets, such as dams, canals and reservoirs. Among its clients, mainly water utilities and local government, Abyss is working with Sydney Water.

For Steve Fanale, co-founder and chief executive of Drive Yello, the trip gave him insights into how he will need to change his business to launch in the US.

It's the network

"We probably wouldn't have done that this early if we weren't part of the program but it's been extremely useful to have done it. It made us realise the potential and different strategy we would have to take with Drive Yello to actually take it over to the US."

The business-2-business food delivery software and driver business may best be suited as a software offering in the US, forming partnerships with market incumbents.

Mr Fanale was also a mentor in previous rounds of the muru-D program.

"It's more than just the education – it's the network, it's the focus for the entire team, not just me as an individual. They get a lot of education and understand of start-ups from the whole process. The process of muru-D's program is not just about 'hey, this is how you do things'. It's about being a support for any growing business and I think regardless of your experience you need that level of support," Mr Fanale said.