As part of the Future Founders Festival which celebrates Victorian International Students and the startup ecosystem, participants who meet the following criteria can be in the running to win up to $3,500 AUD in prize money:
1. The applicant must be a current or former International Student from a Victorian education provider (Higher education, VET or ELICOS). This must be able to be verified.
2. The applicant must lead an early stage startup – ‘early stage’ as defined as idea stage or validation/testing stage that is pre-revenue or minimal revenue according to the City of Melbourne Startup Action Plan and LaunchVic’s Startup Framework.
3. Submit an application before 11:59PM (AEST) on Sunday 13 September 2020.
a. Applicants must upload a 2 minute video to YouTube pitching their startup
b. Apply by completing the Future Founders website competition form.
Application details include:
i. Full name of applicant
ii. Name of startup
iii. Link to the Youtube pitch video
iv. Contact phone number
v. Email address
vi. Position of applicant in company
vii. Website of startup
viii. Social Media handles of startup
ix. Contact details of reference that can verify applicant is a current/former Victorian international student.
4. Applicants must be available to connect by Zoom videoconferencing during the Startup Pitch Competition Final to be held Wednesday 23 September 2020 between 3pm-4pm (AEST).
5. Applications will be assessed based on the following criteria:
a. Market – how well do you understand your audience and the problem you are solving for them (20%)
b. Solution – how well does your offering solve this problem (20%)
c. Team – why is your team particularly setup for success (20%)
d. Traction – what have you achieved so far (20%)
e. Pitch – how engaging, creative and entertaining was your pitch (20%)
6. Applications that do not satisfy the eligibility criteria may be deemed non-compliant and not marked.
7. StartSpace staff will assess the applications based on the criteria in section 5 and select 3 finalists to participate in the livestreamed Startup Pitch Competition Final session where they will speak directly with a judging panel consisting of industry figures in a live Q&A session through Zoom.
8. Based on the criteria in section 5, judges will determine the competitions winners during the livestreamed Startup Pitch Competition Final session on Wednesday 23 September. Judging will occur remotely and assessments will be electronically sent to the StartSpace team for collation. Any conflicts of interests will be managed in line with Library policy. Winners will receive the following prizes to be used at the discretion of applicants on their startups:
a. First place – $2,000 AUD ex GST & StartSpace Loft membership
b. Second place – $1,000 AUD ex GST
c. Third place – $500 AUD ex GST
9. The prize money will be transferred by electronic transfer in October 2020.
10. The StartSpace Loft membership for First Place is defined as follows:
a. Access to a maximum of 2 hotdesks will be provided to the winning startup
b. This access will be complimentary with regular fees waived
c. The access will begin at the opening of the StartSpace Loft and last for 6 months of time collectively based on when the Library is permitted to have the space open in accordance with public health directives. Access commencement cannot be postponed to a further date
d. At the completion of the 6 months, the team will meet with the StartSpace team who will decide ongoing options for access.
11. The results will be publicised via StartSpace and Future Founders Festival website. If successful, I consent to my name being publicised on the StartSpace and as a prize recipient.