One Australian startup will soon be in the running for US$1 million when Brisbane hosts the regional event of the Startup World Cup global pitch competition.
Taking place on 10 April, the Startup World Cup is an initiative of Silicon Valley-based Fenox Venture Capital. The competition will see 10 Australian startups pitch for a spot in the grand final in San Francisco, along with startups from 40 other nations, competing for the ultimate investment prize of US$1 million.
It will be the first time Brisbane hosts Startup World Cup. ImagineX Ventures is partnering to host the Brisbane competition with support from Brisbane City Council via Brisbane Marketing and the Queensland Government.
Lord Mayor Graham Quirk said hosting the Startup World Cup Australian competition comes at a time when the city’s entrepreneurial and startup community is growing significantly.
“Brisbane is committed to nurturing innovation, appointing Australia’s first Chief Digital Officer and implementing a city-wide digital strategy which included opening CBD startup hub The Capital and launching a grant program to help entrepreneurs grow their businesses,” Cr Quirk said.
“We are now Australia’s second largest city for startup founders and hosting the Australian final of the Startup World Cup is another way we are supporting local entrepreneurs.
“The competition will take place one week after Brisbane welcomes the world’s innovation and tech professionals at the inaugural two-day QODE conference on 2-3 April, where startups can take part in pitch training workshops.
Innovation Minister Kate Jones said securing this globally-recognised event for the first time in Queensland cemented the state’s reputation as a hub for innovation.
“With Queensland having the second highest number of startups in Australia, it’s no wonder Brisbane’s been selected to host the Australian final of the Startup World Cup,” she said.
Anis Uzzaman, CEO and General Partner of Fenox Venture Capital and the Chairman of Startup World Cup, said as a global venture capital firm, Fenox’s mission is to help entrepreneurs to scale globally.
“Through Startup World Cup, we bring together the entrepreneurs, venture capitals and corporations from around the world for a cross-learning experience that will foster tech innovation globally,” he said.
Retno Dewati, SEA Regional Manager of Fenox Venture Capital said that with innovation happening all over the globe, the firm wanted Startup World Cup to reach entrepreneurs in all the major regions of the planet.
“Through this competition, we are looking forward to selecting the best startup that can represent Australia at the global stage,” she said.
“We believe with Startup World Cup, it will lift up the spirit of entrepreneurship and also strengthen the Australian startup ecosystem.”
Startups are encouraged to apply for the Australian final via this link. Submissions close on March 27.