Manufacturers, Restaurants, Construction And University Of Texas Challenge Austin’s Entrepreneurs

[Re]Verse Pitch awards $20,000 for best initiatives using waste materials to create and grow businesses.

AUSTIN, TEXAS – Austin’s third annual [Re]Verse Pitch Competition will award two innovation prizes totaling $20,000 to local entrepreneurs. What’s the catch?

They must create products or services using discarded materials from existing Austin businesses. The competition is designed to inspire profitable ventures while supporting a more circular local economy.

Eight businesses and non-profits will pitch their byproduct materials to competing entrepreneurs at the opening event January 17, 2018, 6:30 – 8:30 p.m, at Atlassian’s downtown Austin office at 303 Colorado St., #1600. This year’s material suppliers—and the items in need of reuse solutions—include:

• Balfour Beatty US: Concrete anchor straps
• Gold Rush Vinyl: Vinyl record defects and trimmings
• JOSCO Products: Denim and cotton pant tops
• Quality Seafood Market: Oyster shells
• Still Austin Whiskey Co.: Distiller’s spent grain
• Stitch Texas: Fabric scraps
• Texas Reds & Whites Tasting Room: Wine bottles
• University of Texas Resource Recovery: Pressboard office furniture

More information about each of the materials is available online at ReversePitch.org. 

This year’s Innovation Prize pool has doubled from $10,000 to $20,000 and new award categories have been added. The competition will now award one prize to the best new business idea and one prize to an existing business that is able to make use of one of above byproducts.

Innovation Prize winners will also receive free consulting services from Assemble and educational opportunities from the City of Austin Small Business Program. More prize details will be announced in the coming months.

Prospective entrepreneurs, the public and anyone interested in the competition may RSVP to the opening pitch event at ReversePitch.org/events.

Competitors will receive guidance from mentors and technical advisors and have the opportunity to attend specialized workshop sessions as they formulate a business plan and test their concepts for viability. Finalists will pitch in hopes of winning one of the innovation prizes at the closing event on March 7, 2018.

The [Re]Verse Pitch Competition is a collaboration between the City of Austin, U.S. Business Council for Sustainable Development, and the UT Herb Kelleher Center for Entrepreneurship, Growth and Renewal, with additional support from a wide variety of community partners.