Northern Territory pitch event hosted with ‘seed funding’ for winner.
Summary
The Department of Industry, Tourism and Trade represents the Territory Government as a founding member of the Darwin Innovation Hub (DIH) and is a key partner in stimulating and supporting the development and growth of the Territory innovation ecosystem and annual Croc Pitch event.
In 2018 a memo of understanding between the DIH and the department led to the creation of the inaugural Croc Pitch. The Territory Government, through the department provided funding of $50,000 per annum to the winners in 2018 and 2019 to support the Croc Pitch, which required no co-contribution from the winners. The DIH offered up to $100,000 venture capital investment from Paspalis.
Croc Pitch brings together government, industry, innovators, entrepreneurs, start-ups, mentors, investors, influencers, researchers and students to identify, highlight, attract, engage and share with the very best ideas from entrepreneurs and start-ups within the Territory.
The pitch competition provides support to entrepreneurs and start-ups through industry connections, mentoring, professional development and the promotion of business ideas. The event provides a platform to collaborate and exchange ideas to help support to fulfil professional ambitions and discuss key issues of importance to businesses and government in the region.
The event was deferred in 2020 due to the coronavirus pandemic, however Croc Pitch 2021 returns once again during October Business Month and participants from all over the world can pitch for the chance to win up to $1,000,000 in venture capital funding and a placement in the Territory Government’s Business Innovation Program valued at $30,000 with the dollar-for-dollar co-contribution requirement waived. Pitches in 2021 can be from a global, national or local contestant, as long as the innovation provides an economic benefit back into the Northern Territory.
Outcomes
- Croc Pitch 2019
Croc Pitch 2019 was held on 8 October as a part of October Business Month. Contestants competed for the chance to win up to $100,000 in venture capital funding and an additional $50,000 Business Innovation funding from the Department of Industry Tourism and Trade. Contestants additionally had the chance to compete for a 90 day placement at an Australian Government funded Landing Pad overseas with $5,000 provided towards costs.
The 2019 Croc Pitch involved:
- 19 contestants
- three pitching rounds and one final round with six contestants
- 17 judges (four judges per round and five judges for the final), finals judges included:
- Chief Executive Officer, Paspalis and Darwin Innovation Hub, Harley Paroulakis
- Chief Executive Officer, Department of Trade, Business and Innovation, Shaun Drabsch
- Director - Accelerating Commercialisation, Department of Industry, Innovation and Science, Larry Lopez
- Director Northern Territory Austrade, Martin Ferreyra
- Chief Innovation Officer and Chief Scientist, Department of Foreign Affairs and Trade, Dr Sarah Pearson
- 160 guests and three guest speakers including Dr Sarah Pearson, Chief Innovation Officer and Chief Scientist, Department of Foreign Affairs and Trade and Mr Paul Sanda, Deputy Consul General, Senior Trade Commissioner, Australian Consulate General Guangzhou Austrade
- four Croc Camp workshops held across the Territory including urban and remote centres such as Nhulunbuy, Alice Springs and Darwin
- 60 one-on-one mentoring sessions.
The winner of Croc Pitch 2019 was Samuel Pattemore from Corrosion Instruments.
News item:
- October 2019: Corrosion Instruments Croc Pitch 2019 winner!
- Croc Pitch 2018
The Darwin Innovation Hub partnered with Startcon, Australia’s largest start-up and growth conference to bring the inaugural Croc Pitch to the Territory. Croc Pitch 2018 was held on 9 October, as part of October Business Month’s Innovation week.
The 2018 Croc Pitch involved:
- 32 contestants
- three general pitching rounds with up to eleven contestants and one final with six contestants
- four potential angel investors in attendance as registered audience members
- 13 judges, finals judges included:
- Chief Executive Officer, Paspalis and Darwin Innovation Hub, Harley Paroulakis
- State General Manager, SA/NT Commercial Banking, National Head of Indigenous Business at Westpac, Suzanne Hullick
- Director, Accelerating Commercialisation at Department of Industry, Innovation and Science, Larry Lopez
- Pro Vice Chancellor, Higher Education at Charles Darwin University, Dr Steve Shanahan
- 110 guests and three guest speakers including Steven Rowe from SRA Information Technology, Pippa Ainsworth from the Trader and Darren Ford from Service M8
- five start-up alley participants
- four Croc Camp workshops held across the Territory
- four workshops in the morning specially designed for innovation start-ups, leading into the pitch competition at midday
- 65 one-on-one mentoring sessions focussed on pitch deck development
- the Paspalis Innovation Investment Fund invested in the Croc Pitch contestants with an additional $400,000 in venture capital funding
- the Minister for Business and Innovation, the Hon Nicole Manison MLA launched the Territory’s innovation policy and the first Business innovation strategy.
The winner of Croc Pitch 2018 was Keith Jury with SolFlow, a Darwin based Australian company specialising in the development of Solar PV Direct technology. Keith was awarded the $100,000 venture capital investment from Paspalis and an additional $50,000 in Business Innovation funding from the Department of Industry Tourism and Trade. SolFlow’s technology draws upon solar power when the sun is shining, then transitions to mains power when it’s cloudy or at night saving you money off your energy bill. SolFlow ultimately declined venture-capital investment. Keith went on to pitch his idea at StartCon’s Asia Pacific Pitch Competition in Sydney for the chance to win a $1 million investment.
News items:
- 1 December 2018: Daitum wins $1 million StartCon Pitch competition