// The Australian Technologies Competition has announced 42 semi-finalists, including two WA startups, who will proceed to the next round in a bid to become a finalist.
Now in its 10th year, the Australian Technology Competition is a combination of national competition and awards program, late stage accelerator and partnering and investment vehicle for Australian technology startups with global potential.
Sponsored by federal and State governments, industry growth centres, the Australian Space Agency and industry partners, it received 217 entries this year across 12 award categories.
“The ATC recognises technology SMEs and ‘scaleups’ with genuine global potential and accelerates their growth through capability building, domestic and international industry connections and national awards recognition,” Impact Technology Ventures Chair, Pat Mooney, organiser of the Competition said.
“It provides a safe environment for road testing of business models, identifying and filling gaps in capability and connecting with the right type of partner or investor for the stage they’re at.
“It relies on the generous contributions of time from over 250 experienced technology CEOs, corporate executives and partners of leading investment groups, to provide this level of personalised feedback and development.”
The Competition covers 12 industry sectors, including the federal Government’s six nominated growth sectors (medtech and pharma, food and agtech, cybersecurity, advanced manufacturing, mining and engineering and energy resources).
Other high growth sectors such as new energy, circular economy, ‘global social impact’, smart cities and most recently, disaster and emergency management, are also included.
This year the space sector was added to assist the efforts of the Australian Space Agency to identify Australian companies with space relevant capabilities among non traditional ‘space’ sectors.
What does this competition do for selected startups?
Josh Letcher from one of the WA semi-finalists, Space Industries, told Startup News what this competition meant for his company.
“Recognition is always important when doing something bold and innovative and especially when its ‘out of this world’ such as going to the Moon, the competition will provide valuable recognition building confidence and awareness to the space industry and general public of the national capability we are building.” Josh said.
Josh Letcher, Space Industries.
Space Industries is in the space sector part of the competition, and aims to build a rover to mine Helium-3 and water from the moon by 2030.
Dr Anabela Correia, CEO of medtech company LiVac, a past winner of the Competition, expressed appreciation for the opportunities the competition brought her organisation.
“ATC was a great platform to access mentors and guidance to further refine our business plan; it also enabled us to raise the profile of the business and provided us with access to a high-quality network of industry experts, investors and alumni.
“The key benefits for us though were that the program helped to bring new investors on board and increased existing investor confidence in the business,” Anabela said.
What’s next?
The next stage of ATC involves a week-long growth masterclass, pairing with an experienced business mentor and preparation of a concise business plan that is scrutinised as part of the next round of judging.
“Each entrant must be prepared to have their business screened, vetted and analysed by experienced entrepreneurs and professionals before making it to the Finals,” said Pat.
“Potential partners and investors can feel assured that any company having made it to the final round has been through a substantial review and capability development process,” he added.
This year’s National Finals & Awards Ceremony will take place in Melbourne on 20 October, courtesy of support from the Victorian government.
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Main image source: Energy Victoria
