Ingram Micro Cloud announced that applications are now open for its international Comet Competition, aimed at identifying revolutionary business-to-business (B2B) software innovators whose products have clear applications for the technology channel.
The second annual competition will award $5,000,000 in award money and funding to 60 independent software vendors (ISVs) in a series of 16 concurrent competitions across five continents.
All qualified B2B technology startups are encouraged to apply to the Comet Competition. In each of the 16 regional competitions, Ingram Micro will award one winner and three runners-up. The winners will receive $100,000 in go-to-market funding and a chance to win $1,000,000 in cash at Ingram Micro’s Cloud Summit in Miami, Florida, May 12-14, 2020.
Each of the runners-up will receive $50,000 in go-to-market funding. Ingram Micro will not take any equity in the winners’ companies, nor require repayment by the finalists.
“Successful B2B startups are increasingly looking to an indirect distribution channel to help diversify and accelerate their revenue, and gain fast access to new markets around the world. Participating in the Comet Competition presents a huge opportunity for these innovative companies,” said Michael Kenney, head of strategy and business development for Ingram Micro Cloud.
“Our goal at Ingram Micro Cloud is to help identify and bring to market the best technology in the industry. It’s especially exciting to advise global startups at the beginning of their journeys and watch them achieve significant business milestones faster and more broadly than they ever anticipated.”
Last year’s winner, Arun Buduri of Pixm, has seen immediate impact from the exposure and resources gained from being a Comet Competition winner. “The year after winning the competition has been a total blessing,” Buduri said. “Between getting our team of three in front of thousands of potential customers while bringing our customer acquisition cost down to nearly zero, we couldn’t have asked for a better partner than Ingram Micro. I like to say Comet was ‘nuclear fuel’ for our business.”
Pixm is a first-of-its-kind cybersecurity product that leverages AI, deep learning and computer vision to detect phishing attacks in real-time.
This competition is supported in-part by Microsoft as part of a recently announced partnership between Microsoft’s Microsoft for Startups group and Ingram Micro Cloud.
Locations chosen as this year’s host countries include: Australia, Brazil, Canada, Colombia, France, Germany, India, Israel, Mexico, Netherlands, Singapore, Spain, Sweden, UK and USA.
Applications for the Comet Competition will be accepted beginning on August 1, 2019 through September 30, 2019.