bizEDGE NZ - Final round of GigStart Fund open to local startups


Final round of GigStart Fund open to local startups

Local Dunedin start-ups are being called upon to submit their applications for the GigStart Fund.

The applications are for the fourth and final round of the fund, a $200,000 cash fund given to Dunedin by Chorus and Nokia (formerly Alcatel-Lucent) as part of the city’s Gigatown prize.

The fund is aimed at Dunedin start-up businesses with innovative ideas using UFB technologies.

The fund, managed by Startup Dunedin, has already allocated $147,000 to eight Dunedin start-ups across a range of projects – from a Gig-powered co-shared office space to a crowd-sourcing platform to cloud-based software programmes, animated learning and new apps.

Digital Community Trust Chair John Gallaher is encouraging Dunedin start-ups to apply and share in the opportunity for a ‘unique source’ of funding.

“Winning Gigatown wasn’t just about getting the gig first. The opportunities we’ve had to build Dunedin’s tech community has been very significant and the GigStart fund is a major part of that,” he says.

Kim Stewart, Chorus Dunedin Liaison Manager, adds, “The judging panel are looking for an idea that has potential to change the lives of people in Dunedin through a new business or growing an existing business, ultimately creating new jobs.

“The use of the UFB network should underline this capability,” Stewart explains.

To be eligible for funding startup businesses must provide:
• A video description of the service concept.
• An outline of the business model that clearly outlines your methodology to build your business.
• A clear description of what UFB technologies the service concept will use.
• An outline of the funding required to deliver the service to market. This should include a detailed breakdown of how the business plans to use the GigStart Fund.

A ‘Pitch Day’ event for the GigStart Fund application finalists will be held in GigCity Dunedin.

Finalists will have a chance to showcase their concepts to the judging panel and the wider GigCity community.

Applications for the final GigStart funding round close at the end of the month – October 31, 2016.

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