TechOut, jointly organized by the Council and AlphaLoft, is entering its fifth year of recognizing talented entrepreneurs by awarding cash prizes to tech start-up companies. The competition will provide a half a million dollars in financing, awarded over the course of five years.
The competition is open to startups that have been in business for fewer than three years, raised less than $250,000 in funding and have less than $250,000 in revenue. The competition awards $100,000 in prize money: first place receives $50,000, second place $30,000 and third place $20,000. A panel of judges awards the top two prizes and the third prize, $20,000 cash, is decided entirely by the audience the night of the event.