Two emerging Australian startups will have the opportunity to pitch at one of the world’s largest VC events after taking home the top two spots in the OTEC APAC 2016 Phoenix Pitch Competition, hosted by Investible, a start-up and business generator, and Infin8 Ventures, which provides startups access to funding opportunities through its network of China-based venture capital funds.
The panel of judges including representatives from Investible, BlueSky Funds, Muru-D, Blue Chilli, Springboard, Capital Pitch and the University of NSW selected Elanation, which is developing wearable technology to reinvent the future of kids’ play, and Sound Scout, an app designed to test for hearing problems in school-aged children, to represent Australia and pitch at the Overseas Talent Entrepreneurship Conference (OTEC) in Beijing later this month.
This is the first year that Australian startups have been invited to participate in OTEC. It is one of China’s premiere funding events and one of the world’s largest events for VCs. Startups from around the world will compete for an equity-free stake of RMB$1 million in prize money (approximately AU$210,000) with the opportunity to access a RMB$5 million entrepreneurship loan.
Investible CEO Creel Price said it was great to see two startups in the Healthtech space and who are both headed by female founders take home the top prize.
“This is an incredible opportunity for these and other emerging Australian startups to access one of the biggest markets in the world and elevate the local mix of innovation and talent on the world stage,” said Creel Price, CEO of Investible.
“Investible was proud to partner with the Beijing Government to launch this fast track program in Australia. It is exactly the type of initiative that the local start-up ecosystem needs to encourage more founders to think globally rather than focusing solely on the domestic market.”
Other finalists included:
JoinMyWedding – An online marketplace connecting ‘to-be-wed’ couples & travellers, enabling tourists to be part of unique weddings experiences around the world.
Kayla – A comprehensive service for Airbnb hosts to ‘hotelify’ their home, providing fresh linen and bespoke toiletries and cleaning services.
Viewpop – A social network that enables users to capture and share three-dimensional photos from their smartphone.
CancerAid – An app to help patients, caregivers and clinicians personalise, organise and manage the cancer journey.
Katherine Maree Pace of Elanation was a winner of Investible’s Angel Pitch two-day masterclass in April. Another AngelPITCH class will be held in August for Australian entrepreneurs who are interested in starting their own business. OTEC will take place on 29 – 31 July in Beijing.
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