NAPA, Calif: To celebrate Penfolds' first chief winemaker, Max Schubert, who pioneered the Australian wine industry, Penfolds extends promising entrepreneurs the chance to compete for USD 33,000 in capital investment to support the future success of their innovative idea.
Representing $1,000 for each of Schubert's 33 years at the onset of his post, the prize money will be granted to one organization deemed by the public and an esteemed panel of judges to have the most innovative idea. Sponsored by the new Penfolds Max's wine collection, the contest opens Oct. 3, and the winner will be announced Dec. 14.
"Max Schubert was a revolutionary force at Penfolds and in Australia's winemaking community, exhibiting an entrepreneurial spirit and embracing Penfolds' values of innovation, bravery and determination that eventually put Penfolds on the global stage," said Emma Brown, Penfolds Marketing Director. "Penfolds Max's wines are a tribute to Schubert, and this competition further salutes a man who would appreciate the creativity and perseverance exhibited by American entrepreneurs today."
Penfolds Max's has enlisted the support of innovation-focused companies and higher education institutions to bring the "Maximum Funding" competition to fruition. In addition to its primary partner Tech.Co, Penfolds Max's has established in-kind partnerships with the Institute for Innovation and Entrepreneurship at The University of Texas at Dallas, Poets & Quants and Bluestein + Associates.
"Maximum Funding" Competition Details
Interested individuals and organizations can enter the "Maximum Funding" competition at http://maxs.penfolds.com/ starting on Tuesday, Oct. 3, and the window to apply closes at 11:59 pm on Sunday, Oct. 22. Applicants must be at least 21 years of age and based in the U.S. Their enterprise must be less than four years old and have no more than $4 million in funding at the time of application. Additionally, the enterprise must have a live, viable product or service and must be able to describe how it is innovative, disruptive and exciting.
All applications will be reviewed by a team of Penfolds Max's representatives and an esteemed panel of judges from an array of respected technology and business firms. Entries will be judged on the strength of their team, strategy and commercial viability. The top 10 applicants will be announced on Oct. 30, at which point the public will have an opportunity to influence which idea makes it to the final round of consideration. Live voting will be held Oct. 30 - Nov. 19 at http://maxs.penfolds.com/ Three finalists will be announced Dec. 4 and receive awards of $5,000 each. The judging panel will announce the winner and award an additional $33,000 on Dec. 14.
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