- Tech Bloc is partnering with Bexar County for a new startup competition.
Do you have the next big tech idea? If so, there could be a few thousand dollars with your name on it.
Bexar County and Tech Bloc, the burgeoning grassroots movement meant to strengthen San Antonio's tech movement, today announced the details of Tech Fuel, a startup competition they're jointly sponsoring to give grants to local entrepreneurs.
Tech Fuel will award $50,000 in grants from the county's $1 million Innovation fund. First place will receive $30,000, second place will receive $15,000 and third place will receive $5,000.
"In the grand scheme of our economic development efforts, this is a small amount of money to help an entrepreneur bring a big idea to life. Tech Fuel is the very type of investment we had in mind when we created the Innovation Fund," County Judge Nelson Wolff said in a news release.
The idea behind the competition is to "rewards entrepreneurs and companies focused on innovation and execution and helps generate awareness for local technology startups, operating in Bexar County," according to its website.
To apply, applicants must answer four questions:
-What problem are you solving?
-What does your solution look like/what is your product?
-How will you make money?
-What is your progress to date?
The competition has few restrictions. Any startup that has less than $1 million in outside funding, less than $1 million in revenue and is based in Bexar County can apply.
Applications can be submitted online at satechfuel.com through January 10, 2016. Tech Bloc will announce the competition's five finalists on February 15, 2015, and will unveil the three winners later in May 2016.