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Funding up for grabs for Dunedin startups

22 Oct 15

Dunedin start up companies relying on UFB are being urged to apply for funding made possible by the city’s Gigatown win.

Applications are open for the $200,000 Gig-Start Fund, with start ups that use fibre to drive innovation able to receive up to $20,000 each in funding.

The Gig-Start Fund is financed by technology infrastructure companies Chorus and Alcatel-Lucent as part of their commitment to Dunedin after the city won Gigatown in November 2014.

Chair of Startup Dunedin, Nigel Bamford, says the Gig-Start Fund could provide the launch pad for new-to-market UFB-led service concepts.

“This exciting opportunity could potentially be a game-changer for a small start up business,” Bamford says.

This is the second round of funding and follows the $47,000 made available in July this year for local companies; ResponseAbility, Learning with a Difference and Adventure Media Works.

"Thanks to the Gig Start funding we have been able to accelerate the first phase of our photography licensing software,” Derek Morrison of Adventure Media Group says.

“As part of our winnings we also won a seat in the first Dunedin Co-Starters course – a really exciting series of business acceleration workshops,” he says.

“This has helped us to refine our concept further, shore up our weaknesses and threats and test our business model before we lay the first foundations. Together with project co-founder Blair Hughson, of Core Development, we are about to start the 1.0 build of the licensing software. This is the really exciting bit,” Morrison says.

To apply for the Gig Start Fund, entrepreneurs must complete the online application and create a short video describing their concept, its benefits and how will people use it.

They also need to provide a lean canvas concept business plan and explain why Ultra Fast Broadband is key to the success of the project.

 Applicants will take part in a 'Pitch Day' in November before the winners are announced on Friday 20 November 2015.

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