Deputy Chief Minister Nicole Manison is encouraging aspiring entrepreneurs to enter “Croc Pitch.”
Darwin Innovation Hub has launched the ultimate pitch event designed to uncover the best innovation and business ideas the Territory has. The entrepreneurs will pitch their business ideas to a panel of judges.
Ms Manison welcomed the event. “Innovation is vital to the growth and diversification of the Territory economy,” she said.
DIH founder and chief executive Harley Paroulakis said the Croc Pitch prize includes a $50,000 BISI grant from the Department of Trade, Business and Innovation that will be matched with a $50,000 cash investment from the Paspalis Innovation Investment Fund. DIH has partnered with Startcon’s National Pitch Competition to give the NT winner a chance to pitch for a $1 million investment.
“The DIH is in a position to provide mentoring, investment analysis and feedback to start-ups through its expert in residence program,” he said.
Darwin will host Croc Pitch during October Business Month as a part of Innovation Week.
In addition to the cash, first prize includes high-calibre mentoring, sponsored membership in the DIH, a visit to the Austrade Landing Pad in Shanghai as well as the opportunity to compete in the Startcon National Pitch final in Sydney with a further $1 million investment prize up for grabs. Startcon brings together over 600 start-ups and 400 leading investors from 15 cities across a series of one-day events in each city.