Start-up initiative MEGA has kicked off applications for its South Australian 2012 program, offering small cash prizes to pitch winners, with a NSW version set to follow.
MEGA is a start-up pitching competition for the ICT industry in South Australia and NSW. The program has rolled out in Adelaide, with NSW set to follow suit in August.
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The scheme’s format takes place over 12 intensive evening workshops in Adelaide, where participants are coached by various mentors.
A pitch day in December will see one start-up win $5,000 in a peer-reviewed prize, with further $1,000 prizes for the best written business proposal and best social innovation.
MEGA, which launched in 2006, is aimed at innovators who create new digital products and services for global markets.
The program is sponsored by both the South Australian and NSW governments. For more information, go to the MEGA website.
Peta Pash, national project manager at MEGA, says that the program builds a business case around ideas to prepare them for seed or angel funding rounds and can act as a feeder to further incubation programs.
“All you need is a passionate desire to bring an innovative business idea to fruition,” Pash says.
“While there are several cash and in-kind prizes, everyone who completes the MEGA program comes out a winner, with skills you just can’t learn in traditional training environments.”