Startup Weekend Adelaide stumps up $12,500 prize pool
Monday, February 27, 2012/
Startup Weekend will kick off in Adelaide next month, with more than $12,500 worth of in-kind prizes up for grabs, including $6,000 in billed hours of legal assistance from Piper Alderman.
Held across the world, Startup Weekend is a non-profit event that brings together entrepreneurs to start companies in just 54 hours.
At the event, participants have 60 seconds to make a pitch, which are whittled down to the top ideas. Teams then form around the ideas to develop companies or projects.
The weekend culminates with demonstrations in front of judges and potential investors. Sydney and Melbourne have already hosted Startup Weekends, and now it’s Adelaide’s turn.
Held at the Adelaide Microsoft offices, the event will run from 6.30pm on Friday, March 30 until 9pm on Sunday, April 1.
Organised by David Truong and Orren Prunckun, entrepreneurs can register for the chance to share in more than $12,500 worth of in-kind prizes.
First place prizes include $3,000 in billed hours of legal assistance from Piper Alderman, $2,000 of coaching from SA Angels, and $2,500 of platform use and PR coaching from Swayve.
Other first place prizes include $1,000 of digital marketing consulting from Via Media, and an invitation to ANZ’s newly-launched Innovyz START to meet mentors and potential teams.
Second place prizes include $2,000 in billed hours of legal assistance from Piper Alderman, and $1,000 of entrepreneurial consulting from Startup Club founder Geoffrey Kwitko.
Third place prize is $1,000 in billed hours of legal assistance, while an open prize will see one team join a digital master class courtesy of MEGA in Adelaide, valued at $550 per person.
According to a spokesperson for Startup Weekend Adelaide, first, second and third place prizes will be awarded to teams that best demonstrate:
- A viable business model.
- The amount of market research and validation completed on the weekend.
- Their ability to sell or pitch the product.
- The ability of the team to execute.
- The level of innovation or disruption of the product.
- How likely the team or idea will raise capital or further investment.
With regard to the structure of the weekend, participants should be starting to formalise teams by 10pm on Friday night.
Organisers urged participants to be honest and direct about the resources and skills needed for the weekend, with participants allowed to stay and work for as long as allowed by the venue.
In conjunction with advisory firm Method Advisory, Startup Weekend Adelaide is also calling for entries in Adelaide’s Most Enthusiastic Entrepreneur Competition.
As part of the competition, Method Advisory will sponsor two entrepreneurs to attend Startup Weekend Adelaide for free.