WASHINGTON — NAB’s Pilot is launching a competition for startups to receive seed funding and support.
The Pilot Pitch Prize is specifically for new companies focusing on technology that could help broadcasters, according to the announcement. Specifically, 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,” Pilot says.
Companies will “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.”
The application window is open through the end of April, and Pilot will announce the five finalists in June. The finalists will receive mentoring.
Those selected will then go on to pitch their ideas live at NAB Show New York, Oct. 17-18 at the Javits Convention Center. Three winners will be chosen by judges who are business executives from digital media companies.
“NAB is committed to supporting innovation in the broadcast industry from the start of an idea through its development and proliferation throughout the marketplace,” Executive Vice President and Chief Technology Officer Sam Matheny said in the announcement. “PILOT Pitch Prize is our latest approach to support budding startups.”
According to the release, winners will receive a Simple Agreement for Future Equity contract including $50,000 and the opportunity to participate at the 2019 NAB Show in Las Vegas, among other prizes. Also, the first 100 qualified applicants will receive a pass to NAB Show New York.