To participate in the Founded competitions, you must be associated with a university, incubator, or coworking space in Australia. If your local community isn't working with Founded, then let them know we exist! It is free to join and we are here to support. Participants for our Founded Competitions are selected by the Centres and they have final decision on who enters the competition.
The competitions we run fall into three tiers, based on the length, involvement and prize pool of each competition. All competitions are designed to be provided for free to participants.
These are competitions that require little or no specific education or workshops and are based around specific problems with related business opportunities as prizes. There will be a number of these competitions held throughout the year.
Silver competitions will run for roughly 4-6 weeks and will cover some of the key entrepreneur skills and involve several events. Prizes include business opportunities and funding. These competitions will run once every 3 months with different themes and materials.
This is the big competition of the year. As the largest startup competition held in Australia, participants from all across Australia come together to pitch on the national and international stage. With opportunities to learn from experts, network with like-minded individuals across Australia, and experience the startup ecosystem in international locations, the Gold competition provides a wealth of opportunities. For an outline of what is involved, see the Competition Timeline. This competition will be held once yearly
These criteria are to be used as a rough guide of how Centres choose their participants for the competitions, and how prizes are awarded. Exact criteria used may vary from those stated here.
Ideas are judged on a number of different metrics. This includes the potential impact of your idea (either socially or technologically), its originality, how clearly it is expressed, its viability as a business, and your ability to identify and solve any potential issues with the idea. Participation throughout the program is also used in final judging. Our platform takes into account a range of other variables such as your interaction with experts, other participants and involvement in competitions. Information on what is involved to win the a trip to Silicon Valley is below.
Within the Founded program you will learn how best to represent your idea in a business plan. This will contribute quite highly to the judges' decision. The Business Plan will involve a summary of the Idea, the individual/team that is developing it, market analyses, commercial and marketing strategy, operational and human resources plan, relevant legal aspects, and economic and financial planning.
Equally important is the presentation of your Idea to the judging panel. Here you will get the opportunity to pitch your idea, highlight key areas of interest and potentially show a prototype. This will be followed by a short Q&A with the judges.
Participation in the Founded program is important to us, as we want you to obtain as much support as possible to make your Idea a success. For that reason, a part of the judging criteria is reserved for participation in the Founded program. This includes the study of program content, participation in the mini-competitions and activity within the Founded online community.