Aust startups to pitch on Chinese TV

Two young Australian entrepreneurs will have the investment opportunity of a lifetime when they pitch their startups on a Chinese TV show in 2016.

When you're facing millions of potential Chinese buyers, your elevator pitch really needs to sing.

Two Aussie entrepreneurs will seize that challenge next year when they spruik their startup companies on a new Chinese reality TV show, The Next Unicorn.

Dubbed a cross between The Shark Tank and The X-Factor, the show is after the next Airbnb or Atlassian, a startup "unicorn" that could grow into a $1 billion plus business.

For two Australian contestants chosen to compete among 15 global entrepreneurs on the show - Jessica Wilson from Stashd and Nick Hough from GradeProof - the opportunity is tremendous.

"The Asian market is the size of the US and European markets combined plus 50 per cent, so if you can tap into a niche within the market, it's incredible," Ms Wilson told AAP.

She and Mr Hough are workmates at the Fishburners startup hub in Sydney, where Ms Wilson developed her fashion app Stashd.

While Ms Wilson says she'd had long-term plans to enter the Asian market, with around a quarter of users of her fashion discovery tool based in the region, she wasn't anticipating the door to be flung open so suddenly.

"You've got to be very tactical about how you crack into the market and this opportunity has now sped up our timelines really quickly, it's incredible," the 24-year-old said.

It's an even steeper rise for Mr Hough, a national 110m hurdles champion who created his education app last summer in between Rio Olympics training sessions and studying law and IT at the University of Sydney.

The 22-year-old entrepreneur coded the software from scratch and hopes the exposure to Chinese markets will draw a flood of users to Gradeproof, a writing app that acts like an English tutor, fixing up grammar and expression and offering sentence alternatives.

"We want to be the next spellcheck, something in every word processor and everywhere where you're browsing the web. It doesn't just help you correct your writing but it helps you rephrase it as you're typing," Mr Hough said.

At the moment the pilot mobile app, which was launched only a few months ago, has around 2,500 users, most of them students, but Mr Hough says the potential for the software to be used by professional writers is huge.

Mr Hough and Ms Wilson will head to Shanghai in January to start filming for the show.

They will compete against 15 other contestants for a $A2.5 million investment prize.


Share
3 min read

Published

Updated

Source: AAP


Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world