Applications opened this week for one of the slots in Tech23, an annual showcase for Australia’s emerging, edgy companies in the information and communications technology industry.
Hopefuls will vie for 23 display spots and a total of $150,000 in cash prizes at the event, scheduled for 23 August at The Auditorium at Surry Hills in Sydney. The companies will have the opportunity to pitch their wares to an audience of about 400 potential investors, mentors, entrepreneurs and customers.
The prize money, provided by the New South Wales government, breaks down thusly:
Innovation Excellence Award: $50,000 for the company judged the best of the Tech23 by demonstrating how its innovation is unique and how it underpins company performance, industry dynamics, productivity change and economic growth.
Broadband Innovation Award: $25,000 for the company whose business model, product, service or solution has the best ability to drive demand through broadband services.
Outstanding Collaboration for Innovation Award: $25,000 for the company that best demonstrates active engagement in a business partnership or collaboration contributing to the development of its innovation.
Community Contribution Award: $25,000 for the company best demonstrating how its innovation will significantly and measurably benefit its local or national community.
Greatest Potential Award: $25,000 for the company that best demonstrates how it will progress its business model to the next level.
Andrew Stoner, deputy premier and minister for trade and investment, said last year’s Innovation Excellence Award winner, Marathon Robotics, used the funds to establish a development and test facility in Marrickville to service a $57 million contract with the United State Marine Corps.