It invention test competition

1. Investment Pitching Information
October 2015

2. Who is ICT Geelong?
ICT Geelong is the representative voice and peak body of the
Information & Communications Technology (ICT) industry in the
Geelong region. Our foundation members are industry leaders
from the private sector, experts from tertiary education
institutions and community leaders from the public sector.
◻ Advocacy body of the IT industry in the Geelong Region.
◻ Our members and sponsors include IT businesses, tertiary
education institutions and government.

3. Background of the “The I.T. Invention Test”
◻ I.T. innovation, entrepreneurship and commercialisation a key part
of ICT Geelong’s Charter.
◻ Inaugural competition held in 2010.
◻ Hosted in conjunction with the Technology Entrepreneurship Forum.

4. Sponsors and Supporters

5. What is “The $50,000 I.T. Invention Test”?
◻ An investment pitching competition.
◻ Commercialisation of I.T.-based ideas, early stage projects and
start-ups.
◻ Provide pathways to commercialise projects.
◻ Very flexible eligibility – ‘incorporates I.T. as a key part of the
solution.’

6. What is “The $50,000 I.T. Invention Test”?
◻ Software (and SAS)
◻ Systems
◻ Applications
◻ Product or service
◻ Web
◻ Mobile
◻ Communications
◻ Social media
◻ Research (with commercial application)

7. What is “The $50,000 I.T. Invention Test”?
◻ Categories for The $50,000 I.T. Invention Test for 2015
⬜ Overall Winner
⬜ Geelong Winner
⬜ Seed (Concept phase) Winner
◻ Accepting submissions nationally for the first category.

8. Who can enter?
◻ Any Australian individual, team or small-to-medium business.
◻ Australian small-to-medium businesses;
⬜ Have an ABN;
⬜ Generate less than $5 million p.a. in sales, and;
⬜ employ no more than 50 full-time equivalent employees.

9. Who can enter?
◻ I.T. ideas, early stage projects and start-ups (ie can be pre-revenue or
pre-launch).
◻ Projects that have been commercially launched for less than
12 months (or yet to launch).
◻ Achieved less than $100,000 in sales.
◻ Have received less than a total of $100,000 of venture capital or non-
venture capital sources (e.g. government grants) to help
‘commercialise’ the project. Note: we will accept projects that have
received more than $100,000 in ‘R&D’ funding.
◻ Own or have the right to use the intellectual property
developed.

10. Who can enter?
◻ Not won or been ‘placed’ in a competition of a similar nature
for the project.
◻ Accepting entries nationally.

11. How to make a submission?
◻ STAGE 1 – Go to www.itinventiontest.com.au
◻ STAGE 2 – Review this ‘Competition Details’ presentation and video.
◻ STAGE 3 – Complete the ‘Investment Submission Template’.
◻ STAGE 4 – Sign the ‘Non-Disclosure Agreement’.
◻ STAGE 5 – send to aqutub@enterprisemonkey.com.au by 5:00 pm
Thursday 2nd October.
◻ All information is available on the website.

12. Other details
◻ Submissions MUST be completed on the Investment Submission
Template.
◻ Around 1,500 words.
◻ Top 10 invited to pitch for 8 minutes + 7 minute questions from
expert judging panel on the 22nd October in Geelong.

13. Key Dates
Date Activity
5pm 2nd October Final Date for Submissions
10th October Submissions shortlisted to Top 10
22 October (TBD) Investment Pitching Day (Geelong)
29 October Innovation Masterclass

14. The Judging Panel
◻ ICT Geelong Network
◻ Geelong Angels Investment Network

15. Prizes
◻ Top 10 Submissions
⬜ Exclusive invite to Innovation Masterclass
⬜ Free tickets to High Impact Forum and Innovation Masterclass
◻ Winner (first)
⬜ ‘The $50,000 I.T. Invention Test’ Overall Winner Award (2015).
⬜ $10,000 cash prize.
⬜ Free ticket to Innovation Masterclass
⬜ Exclusive invitation to Pivot VIP dinner.
⬜ 2 Free tickets to Pivot Digital Summit 2015.
⬜ One year Free ICT Geelong Membership
⬜ Free ticket to 2 High Impact Forum and 2 Innovation Master class in
2016
⬜ Exclusive opportunity to pitch with Geelong Angel Investment Network

16. Prizes
◻ Geelong Region Winner
⬜ $5,000 Cash Prize.
⬜ 2 Free tickets to Pivot Digital Summit 2015.
⬜ Exclusive invitation to Pivot VIP dinner.
⬜ Free ticket to Innovation Masterclass.
⬜ One year Free ICT Geelong Membership.
⬜ Free ticket to 2 High Impact Forum and 2 Innovation Master class in
2016.
⬜ Exclusive opportunity to pitch with Geelong Angel Investment Network
◻ Seed - stage (Concept based) Winner
⬜ 6 Months Free desk space at Start-up Cloud.
⬜ Free ticket to Innovation Masterclass.
⬜ One year Free ICT Geelong Membership.
⬜ Free tickets to 2 High Impact Forums and 2 Innovation Masterclass in
2016.

17. Investment Submissions – advice for entrants
◻ Looking for the best commercial potential.
◻ Projects . . .
⬜ Potentially ‘disruptive’ technologies
⬜ High level of innovation
⬜ Competitive advantage
⬜ Impact on global markets
◻ Plans . . .
⬜ Articulate
⬜ Clear target market (and how to sell to them)
⬜ Based on a scalable business model
⬜ Well considered financial projections
⬜ Strong chance of commercial success

18. Investment Submissions – advice for entrants
◻ Assessment
⬜ Elevator pitch – 10%
⬜ Project Description – 10%
⬜ Market Opportunity – 20%
⬜ Target Market – 17.5%
⬜ Business Model – 15%
⬜ Financials – 15%
⬜ IP / Proprietary Knowledge – 12.5%

19. Investment Submissions – advice for entrants
◻ Themes / Tips from last year’s submissions
◻ 1. What problem are you solving?
⬜ Why is the solution valuable?
⬜ Why will the target market buy your solution?
⬜ Why is it different?
◻ 2. Address each topic!
⬜ Template clearly explains what we want to know.
⬜ Make an articulate response to the question.

20. Investment Submissions – advice for entrants
◻ 3. Identify and quantify the target market
⬜ Who will buy the product / service?
⬜ Quantify the size of the industry and / or target market?
⬜ Do your research! Has it been done before?
◻ 4. How would the business operate (business model)
⬜ How are products / services delivered?
⬜ Key functions of the business / how would it work?
◻ 5. Use visuals (if you have them to accompany submission)
⬜ Pictures, diagrams, charts.
⬜ 3 min video clips.

21. Investment Submissions – advice for entrants
◻ 6. Don’t get over technical
⬜ Limited words
⬜ Focus is on commercial outcomes
⬜ Audience is angel investors and commercialisation experts
◻ 7. More tips available on video at www.itinventiontest.com.au

22. Go to the website for all details . . . Good Luck!
www.itinventiontest.com.au