Yesterday evening, startup incubator ATP Innovations announced a joint venture with Washington based incubator 1176, that will see Sydney participate as a host city for the Challenge Cup 2015.
The Challenge Cup is a global competition that takes place across 16 different cities, over 11 countries with the aim of identifying the most ‘promising startups’ that are poised to solve some of the world’s biggest challenges. The Sydney based part of the pitch competition will take place on November 11th.
Participants will be competing for US$650,000 in prizes across four distinct verticals. Those are, education, energy, health and ‘cities’. In addition to the prizes there is also the chance to network with some of the startup ecosystems greatest mentors and corporate partners, investors and of course the chance to meet and talk with policy makers.
In addition to Sydney, Challenge Cup 2015 will take place at 15 other regional sites, including Washington D.C., Chicago, Toronto, New York City, Tel Aviv, Amman, Santiago, Nairobi, Mumbai, Austin, Boston, Berlin, Dublin, San Francisco, and China. Each city will produce four regional winners in each of the four categories, with 64 regional winners chosen to compete in 1776’s Challenge Festival in May 2015, a weeklong event in Washington, D.C.
“We’re thrilled to join with ATP Innovations and bring the Challenge Cup to Sydney, a city that has already established itself as a leading hub for innovative startups that are tackling some of the world’s most fundamental challenges,” said 1776 co-founder Donna Harris. “This competition will not only help Australia’s startups grow and scale—it will further connect the city to our growing movement of innovators interested in solving big, intractable problems.”
The 1776 campus is only a few blocks down from the Whitehouse in D.C. and the President of the United States has attended the campus on occasion to address the next generation of tech CEO’s the incubator is producing.
ATP Innovations was recently named the world’s leading business incubator when it won the Randall M. Whaley Incubator of the Year Award 2014. The organization partners with technology-based businesses to help them achieve success as quickly as possible by helping them raise capital, build their teams, secure government grants, create new products, and grow revenue.
On the partnership with 1176, ATP’s CEO Hamish Hawthorn says “We are tremendously excited to bring the Challenge Cup Down Under for the first time. Australia is an emerging hot spot for startups that are changing the way we live and helping to solve real problems, and this competition will be an invaluable opportunity for these young companies to connect with influencers, meet potential partners and investors, and really take their ideas to the next level.”
Last year’s Challenge Cup was enormously successful. Out of 5,000 applications, 480 startups competed in 16 cities in nine countries throughout the world. Out of the 64 startups that competed at the Challenge Festival, eight startups were selected to receive funding from 1776 directly
Candidates for the Challenge Cup competition should be startups that are compelling, world changing, and highly scalable. The startups should be aiming to make tangible differences in people’s lives, not just build the hottest new app.
Founders interested in applying can do so by following the instructions here: http://challengecup.1776dc.com/eligibility-rules