ALBUQUERQUE, N.M. (KRQE) – One contest is giving local startups the chance to participate in a virtual pitch event with top investors. ABQid Balloon Pitch 2020 allows top startups from New Mexico who are seeking venture investment to meet up with a panel of investor judges for a virtual pitch event.

Startup founders who have an innovative product concentrated on a growing market, have a strong team, and are actively seeking venture investment are encouraged to apply. The top 10 pitch teams will be required to attend one to two sessions with ABQid staff and will record a five-minute pitch video with coaching from CNM Ingenuity’s digital media lab.

Startups will then be required to participate in the main web conferencing event on October 2, and take part in a Q&A and networking with ABQid’s 10 investor judges after their pitch video is played. The winning team will receive $5,000 non-dilutive cash in addition to a ride in a hot air balloon courtesy of a pilot partner.

During last year’s contest, eight competitors were selected to compete and offered a variety of products from assistive technology and eco-friendly baby bottles to health foods and robotic paintings. The startup Perspective Components was the winner of the 2019 contest with their mechanical stabilizer for devices and sensors.

Friends and supporters of the startup companies are encouraged to attend the virtual October 2 event and can register for tickets online. The deadline to apply is September 13, 2020, at 11:59 p.m.