Sydney startup Adbidx takes top honours at TiE pitching competition
Adbidx, a digital billboard platform founded by Sydney entrepreneur Chris Muir, has won TiE’s (The Indus Entrepreneurs) Open Pitching Competition for 2014. Sixteen entrepreneurs battled it out for the chance to attend TiE’s annual event at Silicon Valley on May 16 and 17.
As the winner, Muir will be attending the US event, and networking with over 3000 angel investors, venture capitalists and other members of the startup ecosystem.
Adbidx’s platform uses advanced demographic targeting through biometrics and other calculations to determines who is looking at the billboard; and targets advertisements likely to resonate with the user.
One member of the judging panel was Simon File, Partner of Crowe Horwath, who said that the calibre of competition this year made the decision difficult, but all judges felt “from the commerciality and scalability perspective, Adbidx was a deserving winner with a clearly defined user base.”
He added that as accountants and advisers at Crowe Horwath, which sponsored the event, they are beginning to see “a new generation of entrepreneurs who have developed technological innovations that are at the forefront of global trends.”
“We hope to see these entrepreneurs become the future stars of the Australian economy.”
The pitching event was attended by over 100 people including angel investors and venture capitalists from Sydney and Melbourne and entrepreneurs.
Mathias Kopp, President of TiE Sydney said participation from angel and VC suggests increasing activity and deal flow in this sector.
“Attendance, as well as quality of pitches has also increased year on year, reinforcing the need to nurture the ideas of Australian entrepreneurs,” he said.
Last year, TiE Sydney helped 100 entrepreneurs through various activities such as mentoring, pitching, workshops, training, and networking events. In 2014, TiE will aim to interact and assist 125 entrepreneurs.