Penfolds Wine Launches “Maximum Funding” Competition for Startups

When startups want to celebrate little wins there might be a glass of wine found near by. At Penfolds wine, they celebrate innovation regularly, and today they are launching their "Maximum Funding" competition for startups around the US.

Max Schubert, a renegade and pioneer, was Penfolds first legendary Chief Winemaker, innovator and creator of Grange. He was constantly pushing the boundaries of wine-making and propelled Penfolds onto the global stage with his creation of Penfolds Grange in 1951. In the wine world, Grange Hermitage or Penfolds Grange is an Australian wine that was made primarily from Shiraz and widely considered one of Australia's most collectable wines.

In honor of Max, the company is holding a competition that invites entrepreneurs to compete for capital funding to support their innovative ideas.

The competition is open starting October 2 through October 22 to startups from across any industry and vertical. Other details:

Applicants need to be at least 21 years of age

Must be based in the United States

Startup must be less than 4 years old

Must have no more than $4 million in funding at the time of application

Must have a live, viable product or service.

Deadline October 22, 2017 at 11:59 PM

As for the prize money, there is $33,000 up for grabs and the dollar amount has special meaning as 33 was the age that Max Schubert became Chief Winemaker. In addition, three finalists will receive awards of $5,000 each.

"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," states Emma Brown, Penfolds Marketing Director. "Throughout his career as chief winemaker at Penfolds, spanning 1948 to 1975, Max was at the forefront of bringing together science, art and innovation to elevate Penfolds around the world."

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 – including TechCo. Entries will be judged on the strength of their team, strategy and commercial viability. The top 10 applicants will be announced on Oct. 30.

The public will have an opportunity to influence which idea makes it to the final round of consideration by participating in live voting and choosing their favorite between October 30 and November 19.

The three finalists will be announced December 4 and receive awards of $5,000 each. The judging panel will then announce the final winner and award an additional $33,000 on December 14.

It's five o'clock somewhere, so kick back, grab a glass of wine and submit your startup for the Maximum Funding competition. And if luck comes your way, your startup might be the next innovator to win big. Apply today! Cheers!

The article was brought to you in partnership with Penfolds. To find out more about the Penfolds Maximum Funding Competition, click here.