Australian start-ups are being invited to pitch for over $12,000 in prizes at the Australian Suzhou Start-up Competition in Sydney in October.
Event coordinator Ling Li told StartupSmart the competition was designed to connect entrepreneurs to the opportunities to either work in, or partner with companies in Suzhou region of China.
“The Suzhou government wants to attract more start-up projects into the city. Some Australians would prefer to stay in Australia to develop their careers and companies, but we’re hoping to help connect Australian entrepreneurs to companies and partners here in China,” Li says.
Li says the adjudicating panel for the event will include Australian investors and start-up mentors, as well as delegates from Suzhou, who will work with the winner to see what possible support and partnerships they can provide.
Start-ups will need to have innovative ideas and have clear business plans, or already be in operation, or a very strong business plan.
Start-ups involved in renewable energies, technology and sciences, information technology and software, cultural innovation and creative media are invited to apply online.
Ten to 15 companies will be chosen to take part in the pitching competition in October. First prize is $8000 and second prize is $4000.
“To be successful, you don’t have to be very mature in terms of your project but you do need to have innovative ideas and the plans for the development of the project need to be mature so you can be successful in the market,” Li says.
Li adds they’re especially interested in products that will find markets in China, and they’re most interested in companies in high technology that combine development and environmental concerns.
“China is a developing country and they need to protect the environment, but also develop the country at the same time,” Li says.
The event is supported by a range of organisations including the Australia China Business Council and the SME Association of Australia.