Melbourne co-working space The Hub is launching a new Startup Weekend-style event for young entrepreneurs who solve a “social problem or add social value to the community”.
The event, called FreshlyHacked, will be held at The Hub’s CBD premises and is backed by the Foundation for Young Australians.
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Open to budding business owners aged under 29-years-old, FreshlyHacked will take place over the course of two days, starting with a vote for the top 10 ideas devised by participants.
Teams will then be formed to work on each concept, culminating in a pitch to a panel of judges. Mentors from organisations including Deliotte, Lonely Planet and World Vision will help each team with their ventures.
The winner will receive a cash prize, the size of which is yet to be decided ahead of an anticipated sponsorship deal, and a free two-week stay at The Hub, with access to the collaborative working space’s partners.
The event, to be held on February 17, is the first of its kind to be held by The Hub, which provides workspace, training and networking services for start-ups.
Ehon Chan, connections catalyst at The Hub, says that he expect between 80 and 100 young entrepreneurs to take part in the event.
“I did Startup Weekend and I got frustrated as it seemed that the winning ideas were those that would make the most money, rather than the ones that would solve an actual problem,” he says.
“The winner of FreshlyHacked has to solve a problem or improve a system or someone’s life in some way. It also has to be financially sustainable and it has to be innovative. It doesn’t matter what kind of idea it is, as long as it solves a problem.”
“The overall goal is to help boost innovation. A lot of people have ideas but never have an opportunity to do anything about them.”
For more information on the event, click here.