BENDIGO will be the pilot site for a public ‘Shark Tank’-style event allowing budding entrepreneurs to pitch their business ideas to a panel of experts on stage.
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The best pitches will win cash prizes as part of Regional Pitchfest, an idea which developed from an event held in Wagga Wagga in June.
Like the television show, five finalists will put their ideas to the test in front of Startup Victoria chief executive officer Georgia Beattie and entrepreneur and author Kerry Anderson in Bendigo next month.
Entries opened on Monday, with the best five applicants given the opportunity to hone their pitches with Discovery general manager Jonathan Ridnell before taking to the stage.
Regional Pitchfest founder Dianna Somerville said the event was first held in her hometown of Wagga Wagga this year, before it was launched in Bendigo.
“The first winner was actually a 13-year-old who pitched Edukits – a 3D printing and robotics business,” she said.
“People have five minutes to get on stage and pitch their ideas.
“The audience will also get their say with a community choice category.”
The winner will receive $5000, while the second-placed idea gets $3500. The community choice category winner will receive $1500.
All finalists will be eligible for eCommerce acceleration support valued at $10,000, from Australia Post and the University of Melbourne.
Pitchfest will then be rolled out in every state next year, dependent on the success of the Bendigo event.
Rather than the intense atmosphere of Shark Tank, Ms Somerville said Pitchfest was held in a more supportive and nurturing environment.
“We have Nemos, not sharks,” she said.
“Bendigo was chosen because it has a great startup culture, a supportive council and a university with students who are sure to have plenty of ideas. We want to tap into that.”
Applications are open until October 27, and finalists will be announced on October 31.
The pitches will be on-stage at The Engine Room on View Street on Wednesday, November 23.
For more information and to enter, visit www.regionalpitchfest.com