With the Aussie economy in transition and a bunch of tech companies striking reverse takeover deals with mining companies on the ASX in recent months, investors are being primed for a new wave of business opportunities.
The first round of SydStart pitches kicks off today at the ASX with 20 companies presenting to some of the country’s top startup execs.
“It’s a nice new format for us,” said SydStart organiser Pete Cooper. “The idea of … the next two months is to qualify startups,” ahead of the September finals.
He said judges would “try to be gentle” in the qualifiers. “The finals are a high-pressure situation, though.”
Judges will be looking at how strong the startup’s team is, whether they have product/market fit, how innovative they are and of course how the numbers add up, including revenue and customer adoption rates.
Each startup on the bill is allocated 8 minutes to sell their idea. (As Joe Kiely of BlueChilli and venture capitalist Trevor Folsom this month told Business Insider that’s more than enough time. There’s more on that here.)
There will be three qualifier rounds over the next three months with 10 finalists selected from a pool of 150 startups, presenting to a panel of 12 judges in September.
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