It’s game on for young West Australians looking to launch into the world of startups, with less than two weeks left to apply for Gemstar’s WA Young Entrepreneurs Challenge.
Only months after arriving in Perth, having first opened their doors in Singapore, the Gemstar accelerator and incubator is looking to lend a helping hand to WA’s entrepreneurial young guns.
Gemstar launched the program with a cosy event at their Pier Street centre earlier this month alongside the challenge’s inaugural winners, Adam Kinnest and Tristan Ward from Kiwa Tech Wear.
Both Murdoch University students, Adam and Tristan have developed Safetysocs, which provide peace of mind to those at high risk of falling by sending notifications to the wearer when their heartrate slows, and alerting carers if the wearer falls.
Speaking after last year’s program, Adam said the challenge had helped kickstart their business.
“The competition was critical in providing us with the best possible start for the business,” he said.
“It helped us understand what it takes to be innovative and how to leverage our passion to create a great brand and product.”
The challenge kicks off with three days of workshops, consultations and one-on-one assistance from Gemma and Adam between Thursday 30 August and Saturday 2 September.
Participants will be guided through the tricky worlds of marketing and financial literacy to give them the tools to accelerate the commercialisation of their business.
The young entrepreneurs will then have the chance to put their new skills to the test as they pitch their ground-breaking idea to a panel of judges from both Perth and Singapore’s business communities.
Gemma told Startup News Western Australians needed to capitalise on their location and existing industries to develop future opportunities.
“As the world is becoming more interconnected, with innovation and technology as enablers of transformational change, Western Australia is perfectly poised to be the ‘innovation state’ in Australia,” she said.
“The program will clearly put WA Young Entrepreneurs on the radar nationally as well as in the region.
“It will help redefine innovation and shine the spotlight on WA and all that WA is doing with its admirable push to be the innovation and entrepreneurial state of Australia.”
To join the Young Gems program, entrepreneurs will need to be WA-based with a business idea that solves a real, local problem with the potential to grow in both Australia and South-East Asia, and be between the ages of 18 and 35.
Awaiting the program’s winner is a six-month residency and commercialisation mentorship at Gemstar’s Innovation Centre of Excellence in Perth, with access to the company’s Singapore centre.
The residency includes workspaces, invitations to Gemstar events, marketing and creative services, and strategic introductions to Gemstar’s network of investors, customers and distributors.
Applications close on Friday 24th August.
To learn more about Gemstar’s Young Entrepreneurs Challenge, click here.