Entrepreneurs are being invited to pitch their business ideas at Startup Weekend Melbourne, for the chance to win mentoring and a share in a $300 million fund from two venture capital funds on the hunt for Australia’s next top business idea.
Taking place between 4 and 6 October, entrepreneurs can pitch their ideas to win $5,000 from Optus, as well as the the chance to enter a $15,000, three-month incubator program in Singapore supplied by JFDI/Innov8.
SingTel Innov8, the venture capital arm of Optus parent company SingTel, will be looking for startups to share in its $300 million fund while taking advantage of its access to Asia. JFDI, a Singaporean venture capital fund and incubator, is also an Asian gateway.
According to organiser Tyson Lundbech, regional venture capitalists and incubators have started to take notice of our vibrant startup market.
“The Startup Weekend is a great way to reach the right people with the funds and gain the skills, contacts and expert mentorship required to bring business ideas to life.”
The Startup Weekend program will begin with entrepreneurs pitching their ideas and inspiring others to vote for their idea. The top few will go on to form workshop groups, a process presided over by mentors where the focus will be on customer development, idea validation, lean startup methods and building a minimal viable product.
Teams will then present their prototype and receive feedback from a panel of experts. A winning team is then selected on factors including innovation, community benefit and business model strength.
To register for Startup Weekend Melbourne, or more information about the event visit the website.