Wise, the global fintech company, has launched a Eurovision-style competition for young business owners called ‘Wise’s 20 Under 20’, where for the first time in the competition’s four year history, Aussie entrepreneurs will have the opportunity to pitch alongside contestants from the UK and EU.
The company’s goal is to find the 20 most talented young entrepreneurs across Australia, Europe and the UK, and reward their initiatives with AU$45,500 (£25,000) total grand prize money for one or more overall winners.
There is also an AU$9,000 (£5,000) self-development prize for an outstanding EdTech, GreenTech, Social Enterprise, or sustainability company.
The winners will also get mentoring from some of the world’s best entrepreneurs, including Wise co-founder, Taavet Hinrikus, Virgin’s Sir Richard Branson, Member of European Parliament Ondřej Kovařík, Station F Director Roxanne Varza, with more to be announced.
Previous judges have included: Deliveroo CEO and co-founder Will Shu, Secret Escapes co-founder and COO Tom Valentine, Brolly CEO and founder Phoebe Hugh and renowned investor and entrepreneur Robin Klein.
Australia lags in 17th place globally for the number of unicorns produced. Wise’s 20 Under 20 competition aims to kickstart that journey for young Aussie startups, helping with financing, mentoring as well as free international transfers up to A$1.8m.
To enter the 20 Under 20 competition, Aussie entrepreneurs between the ages of 16 and 19 need to complete a short questionnaire and record a 45-second video for the chance to be a finalist by Monday, 14 June 2021.
All information can be found on the competition website.
Wise co-founder and Chairman of 20 Under 20, Taavet Hinrikus said, “Australia is an upcoming hub for start-up unicorns. Wise is on the hunt to find the next up-and-coming business to join the ranks. A platform such as 20 Under 20 is an excellent way to gather funding, mentoring experience and exposure for small businesses with big futures ahead of them.”
“Young people want to contribute more and more to the future of society as a whole by creating companies. Climate and education issues are being actively addressed and ways are being found to alleviate social bottlenecks. It is not easy to start your own business when you are under 20, and we are delighted to be able to make all of us talented and enterprising young people better tomorrow.”