A good startup idea is still just a concept until other people, with money and skills, can be convinced the business has a future.
That’s why the pitch is so important. So that others will be able to quickly understand the underlying business concept and back with their talent or cash or both.
At Sydney University, the pitches started at this year’s Genesis Start-up Competition, in association with Sydney-based ATP Innovations, with 119 people making up 53 teams.
And in the end it come down to five winners.
This year’s Best Commercial Enterprise award went to Disrupt Surfing.
The idea is simple: selling surf boards online at 50% of the cost, in 50% the time and 100% customised.
Instead of designing products in a studio, manufacturing them and then displaying them to the customer, Disrupt Surfing wants the customer to design their own products exactly how they want them.
The founders of Disrupt Surfing believe 100% customisable sports hardware can be created with the right technology.
MBA students Gary Elphick and Jason Rogers have started with surfboards.
And so far they’ve sold more than 1,000 boards to customers in the US, Japan and Europe.
And Disrupt Surfing has also won a place in the muru-D program, supported by Telstra, which gives $40,000 and six months of business mentoring and development.
For that they have to give up 6% of equity .
For Genesis, which is open to students and alumni if University of Sydney, there is no equity given up.
Here’s the final winning five minute pitch which got Disrupt Surfing $2,000 from Genesis:
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