WASHINGTON—Startup companies in the early stage of their existence with their eyes set on the broadcast market take note; you could receive $50,000 from NAB’s PILOT innovation initiative.
PILOT announced March 7 a competition for such companies to receive seed money and support if their technology offerings are helpful to broadcasters and their digital media operations, especially when it comes to operational efficiency, audience engagement, measurement, content distribution or enhanced user experience.
Entries in the PILOT Pitch Prize will be judged on an entrant’s ability to solve “a well-defined problem for a significant market in a differentiate way,” according to a PILOT announcement. To be considered, companies must show initial progress with their product, a potential revenue model or customer base, a realistic plan for growth, credible financials and the right team to scale.
“PILOT Pitch Prize is our latest approach to support budding startups by providing a vehicle to attain early-stage financial support, executive mentoring and valuable industry exposure,” said NAB CTO Sam Matheny in a press release announcing the contest.
The deadline for application submission is April 30. Five finalists will be named in June. Three winners will be chosen at the live pitch event, Oct. 17-18, during the NAB Show New York, at Javits Center in New York City.
Finalists will receive individual mentoring leading up to their live pitch. Winners will receive a Simple Agreement for Future Equity contract, including $50,000, brand recognition and the opportunity to participate at the 2019 NAB Show in Las Vegas.
The first 100 applicants completing a qualified application will receive a complimentary pass to NAB Show New York.