The Underdog Tech Award by InDrive
Are you a tech startup founder who feels like an underdog? Do you face challenges such as limited resources, lack of access to funding and important events, and low visibility due to your location? If so, you might be interested in the Underdog Tech Award: a new international prize for the best tech startups outside major tech hubs and startup communities.
The Underdog Tech Award is an initiative by inDrive, the global mobility and urban services platform that aims to unlock human potential and expand access to education and other social benefits. The award has been created to support technology startups that are successfully founded despite facing difficulties due to their location.
The award confers recognition and a monetary reward (the prize fund is $60,000) on the winner, along with other important benefits: All startups that submit applications will gain valuable feedback from various venture and investment funds, while the shortlisted candidates will also receive feedback from the award’s jury. In addition, winners will receive PR support and the opportunity to undergo training by industry experts.
Sounds exciting, right? But how can you win this award? Here are some tips and guidelines to help you prepare your application and increase your chances of success:
- Eligibility criteria: To be eligible for entry, you must be an early-stage technology startup located outside major IT hubs. You must also make a significant positive impact on your community (or have the potential to do so) and have good prospects for rapid scaling.
- Application process: The first stage – the application phase – begins on 19 September and ends on 1 December 2023. All applications submitted during this time will be considered. You can apply online by filling out a form on the award website. You will need to provide information about your startup, such as its name, location, description, website, social media links, pitch deck, video presentation, and revenue model. You will also need to explain why you consider yourself an underdog and how you overcome the challenges you face due to your location.
- Selection process: The second stage – the selection phase – starts in December 2023. During this stage, award nominees and the top 20 candidates will be determined and shortlisted by a panel of experts from various fields, such as technology, entrepreneurship, investment, media, and social impact. The criteria for evaluation will include innovation, scalability, impact, team, and presentation. The finalists will be announced in January 2024 and invited to pitch their startups live at the award ceremony in February 2024.
- Award ceremony: The third and final stage – the award ceremony – will take place in February 2024 at a location to be announced later. The finalists will have the opportunity to showcase their startups in front of a live audience and a jury composed of prominent figures from the tech industry and the media. The jury will select the winner based on their pitch performance and overall impression. The winner will receive the Underdog Tech Award trophy and a cheque for $60,000.
As you can see, winning the Underdog Tech Award is not an easy task, but it is definitely worth trying. If you are a tech startup founder who believes in your idea and your potential, don’t let your location stop you from achieving your dreams. Apply for the Underdog Tech Award today and show the world what you can do!