PILOT Introduces Pitch Prize Competition
PILOT, an innovation initiative of the National Association of Broadcasters, is launching the PILOT Pitch Prize, a competition for early-stage startup companies to receive seed funding and support for providing technology solutions that could help broadcasters. Finalists will compete in a live pitch event at NAB Show New York, held Oct. 17-18, 2018 at the Javits Convention Center.
The program is geared towards startups whose solutions serve broadcast and digital media through operational efficiency, audience engagement, measurement, content distribution or enhanced user experience. Each entry will be evaluated based on the company’s ability to solve a well-defined problem for a significant market in a differentiated way. Companies will also be required to demonstrate initial progress with the product, a potential revenue model or customer base, along with a realistic plan for growth, credible financials and the right team to scale.
“NAB is committed to supporting innovation in the broadcast industry from the start of an idea through its development and proliferation throughout the marketplace,” said EVP and Chief Technology Officer Sam Matheny. “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.”
The application deadline is April 30. PILOT will select five finalists to be revealed in June. Three winners will be chosen at the live pitch event on Oct. 17-18, held at NAB Show New York, by a panel of judges comprising business executives from digital media companies. PILOT will also hold office hours during NAB Show in Las Vegas, April 9-11, 2018.
Finalists will receive individual mentoring leading up to their live pitch. Winners will receive a Simple Agreement for Future Equity (SAFE) contract including $50,000, brand recognition, the opportunity to participate at the 2019 NAB Show in Las Vegas and more. Additionally, the first 100 applicants who complete a qualified application will receive a complimentary pass to NAB Show New York.