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​$200k up for grabs as Dunedin start-ups compete for fibre cash boost

​$200k up for grabs as Dunedin start-ups compete for fibre cash boost

“This exciting opportunity could potentially be a game-changer for a small start up business."

Dunedin start up businesses using fibre to drive innovation have the opportunity to tap into up to $20,000 each in funding made possible by the city’s Gigatown win.

Applications are open for the $200,000 Gig-Start Fund, which is able to give start ups making the most of the city’s gigabit fibre up to $20,000.

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.

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,” adds Derek Morrison, Adventure Media Group.

“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.

“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.”

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.

In addition, they also need to 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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