Innovators given chance to pitch ideas

Bright sparks with a clever business idea have a chance to pitch it and win $70,000 worth of prizes.

The competition is part of Planet 2010, a technology showcase supported by the telecommunications and IT industry.

Ten start-ups will be short-listed from applications received by either a business incubator or a university technology transfer office to take part in the "launch pad" competition. The final 10 deliver their pitch to a panel of judges in public at Planet 2010 on March 12 and 13 with the winner receiving 12 months of IT, marketing, legal and accounting support plus technology.

The second and third place-getters each receive prizes of $10,000 and $5000 sponsored by the Ministry of Economic Development.

Although the competition is part of a technology-based expo, applications are invited from all start-ups.

Over two days, Planet 2010 aims to show off the latest in technology and includes a keynote address from Buzz Aldrin, the second person to set foot on the moon.

Organised by the Telecommunications Industry Group, an association which provides a single voice for phone and internet companies, Planet 2010 will give New Zealanders a taste of what telecommunications delivers in New Zealand society and for the economy, said TIG chief executive Rob Spray.

Spray said the launch pad competition was a way for the organisation to help a New Zealand start-up grow their ideas into something spectacular. Entries close on March 1.