Australian Technologies Competition offers largest free entry prize to the best technology company
The Australian Technologies Competition (ATC) is offering the single largest prize money investment offered by a local free entry competition of $100,000 to this years’ winner, in a bid to tackle a tighter capital environment and a fragmented startup ecosystem.
Many Australian founders still do not have much confidence about the local startup ecosystem, as 70 per cent of founders do not believe that there are many funding options available to Australian startups, with 49 per cent of founders feeling that they are not supported by the wider Australian entrepreneurial community and startup ecosystem, which is up from 34 per cent in 2023, as found by The State of Australian Startup Funding Report 2024.
Angel investors, who have traditionally help fund early-stage startups, have showed more caution recently. In 2024, angel investors moved their preferred round of investment more towards later stage Seed companies with 52 per cent of their total investments, compared to 32 per cent for Pre-Seed, as found in The State of Australian Startup Funding Report 2024.
The ATC resolves this by offering the prize money as an investment into a leading technology company, while creating a more holistic startup ecosystem for entrants. ATC does this by offering access to connect with investors, mentors, and industry experts, to ultimately help grow and scale their business. The ATC is owned by ASX listed tech accelerator, Scalare Partners (ASX: SCP). Scalare has had a long involvement with the ATC, with one of the founders being a previous winner of the ATC (2013) and a member of the judging panel up until the point that Scalare started operating the ATC.
Chief Executive Officer of Scalare Partners, Carolyn Breeze, said the ATC is a core part of Scalare’s business model that seeks to address the fragmented startup ecosystem in Australia.
“Many of Australia’s founders have found it difficult to source sufficient capital and get the kind of mentorship, services, and access to the community they need in order to properly grow their startup and navigate regulatory frameworks. Even angel investors, who usually provide capital to early-stage startups, are becoming more prudent in their investments towards earlier stage companies.
“The ATC looks to bring this fragmented startup ecosystem together by not only giving the winner a cash injection of $100k but also providing its applicants with advice from mentors and industry experts on how to scale their business, along with gaining access to the wider investor community.
“With the macroeconomic environment shifting, we believe that more favourable conditions are ripe for local startups.
“Australia’s startup sector is robust, having created several globally leading businesses. Yet, there is potential for significant improvement, and we believe that the ATC’s support services, community, and investment will help bolster the industry,” said Ms Breeze.
Entries are open now until 11 May 2025. Applicants can find out more information and register for the competition here: www.austechcomp.com
