TITLETOWN (NBC 26) — On Thursday representatives from the Green Bay Packers, TitletownTech, and Microsoft announced a new contest in conjunction with the NFL Draft. The first TitletownTech Startup Draft will offer a $1 million investment to a promising startup.
- Packers president and CEO Mark Murphy says the startup draft is a unique element of Green Bay hosting the Draft, adding to other first-time events like the Booyah Battle
- This comes on the same day the NFL released renderings of the Draft setup and stage — 63 days from the first round
- The winning company will be announced in a live-streamed event prior to the first round of the NFL Draft, on April 24
- Startups from around the nation (and Canada) can apply here
- TitletownTech's managing partner expects at least 5,000 companies to apply
(The following is a transcription of the full broadcast story, with additional details added for web)
It won't just be football players getting chosen — and a handsome signing bonus — at the NFL Draft in April. One lucky startup company is also on the clock.
Watch Titletown neighborhood reporter Karl Winter's full story here:
TitletownTech expects thousands of companies to apply for the first-of-its-kind "startup draft."
From there, the field will be narrowed down to a handful, who will then give a Shark-Tank-style pitch at the startup draft "combine.
"We're not sure how many companies we're gonna invite to the combine, yet," TitletownTech managing partner Craig Dickman said. "That'll be part of the fun."
The eventual winner will get $1 million, plus $350,000 in credits for access to Microsoft resources.
"Each city kind of wants to put their stamp on the draft," Packers president and CEO Mark Murphy said. "And I think this is one of those things. I think it really highlights the fact that this is a great place for entrepreneurs."
The only requirements for the applicants are to:
- Apply by March 16
- Be based in the United States or Canada
- Have less than $10 million in starting capital
Also, the applicants do not need to be tech-related, but TitletownTech says it expects the startups to focus on industries relating to Wisconsin's strengths, like advanced manufacturing, logistics, and agriculture.
"We really do highlight industries that we want to focus on," Dickman said. "Wisconsin and the upper Midwest have been exceptionally making things and moving things."
"I'll argue that there's very few places in the country or the world where you can find so many good people who will roll up their sleeves and help their neighbors, seize an opportunity, or solve a problem," Microsoft vice chair and president Brad Smith said.
The startup draft "combine," when the companies pitch ideas in Titletown in person, will be in early April, and the winning company will be announced just before the first round of the NFL Draft, 63 days from Thursday.
