The document provides information about "The $50,000 I.T. Invention Test" competition organized by ICT Geelong. The competition aims to support the commercialization of IT-based ideas, projects and startups. It invites submissions nationally from Australian individuals, teams and small businesses working on IT solutions. Shortlisted top 10 submissions will receive pitching education and the opportunity to pitch to expert judges to win prizes including $10,000 for the overall winner. Advice is given on how to develop strong submissions that clearly address the problem solved and demonstrate commercial potential to win support.

1. Investment Pitching Information
October 2014

2. Who is ICT Geelong?
 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.

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 2014
 Best Overall Pitch
 Best RFID Technology Pitch
 Best Geelong (G21 Region) Industry Pitch
 Accepting submissions nationally across the first 2 categories.

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 craigh@sedadvisory.com 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 entrants invited to ½ day Investment Pitching Education on
the Friday 10th October in Geelong.
 Top 10 invited to pitch for 8 minutes + 7 minute questions from
expert judging panel on the Thursday 16th October in Geelong.

13. Key Dates
Date Activity
5pm Thursday 2nd October Final Date for Submissions
Monday 6th October Submissions shortlisted to Top 10
Friday 10th October ½ day Investment Pitching Education (for Top 10)
(Geelong)
Thursday 16th October Investment Pitching Day (Geelong)
Monday 20th October Winners Announced
Innovation Workshop – led by Steve Blank / Jerry
Engel (Melbourne)

14. The Judging Panel
 ICT Geelong
 HeadStart Accelerator
 Australian Sports Technologies Network
 RFID Technologies

15. Prizes
 Top 10 Submissions
 Exclusive invite to Innovation Workshop led by Steve Blank / Jerry Engel,
Melbourne (20th October in Melbourne)
 Opportunity to apply to be one of five residents in the October intake of the
HeadStart Accelerator www.headstartaccelerator.com.au (minimum 3 month
advice / mentoring)
 Pitching Education (10th October in Geelong).
 Comprehensive feedback
 Winner (first)
 ‘The $50,000 I.T. Invention Test’ Overall Winner Award (2014).
 $10,000 cash prize.

16. Prizes
 Best RFID Technology Pitch
 $5,000 cash prize
 Exclusive access to the HealthRFID executives to assist with
commercialisation and growth of the start-up.
 Note: Submissions need to be at minimum a prototype and ideally have a
first customer (but not mandatory). The RFID technology may have an
application across any industry sector.
 Best Geelong Industry (G21 region) Pitch
 $5,000 cash prize.

17. Prizes
 Other Prizes Details
.
 Submissions may win multiple categories.
 HeadStart Accelerator
.
 Sports Tech and IT-based Accelerator Program
 Up to 5 residents invited into October round (Non-investment round).
 3 month minimum mentoring program in Geelong
 Unmatched access to networks across sports technology industry.
 Residents will need to commit time in Geelong.
 Tick box in application.

18. Prizes
 ASTN Sports Technologies Investment Pitching Competition
.
 Digital, IT and wearables innovations relating to sports are encouraged
to also enter for prizes in the ASTN Sports Tech Pitching Competition.
 See www.astn.com.au
 Tick box in application.

19. 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

20. 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%

21. 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.

22. 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.

23. 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

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