Venture Madness competition for startups accepting entries

The 2016 Venture Madness competition is offering double the rewards of the 2015 competition.

The annual three-day event, which pits startup companies from across the Southwest against one another, is offering competitors a chance at sharing a $100,000 cash prize. The 2015 amount was $50,000.

Entries are now being accepted for the bracket-style, head-to-head competition, a partnership between Invest Southwest and Arizona Commerce Authority. Initially, 64 companies will be chosen to compete, with subsequent rounds whittling the number of competitors to 16 finalists. The finalists will compete for their share of the prize at a three-day live pitch event in the spring.

“Doubling the prize money this year sets the stage for Venture Madness to fuel even more growth for companies on the rise,” said Mario Martinez II, Invest Southwest’s chairman. “We want to give great ideas the boost they need to succeed.”

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The first bracket of 64 will be announced in early January. Companies that apply between Oct. 1 and Nov. 15 will get two complimentary tickets to the March 2016 event and an exclusive meeting with top-tier investors.

Deadline for entries is 3 p.m. Dec. 17. For more information or to download the application, visit venturemadness.investsouthwest.org.