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Contest during SXSW will pierce a startup to Austin

Austin, Texas (CNN) — For a week any spring, a heart of Internet enlightenment relocates to Austin, Texas. And this year, one propitious Web startup will get some assistance creation a pierce to a tech hotbed a permanent one.

At this year’s , deliberate a arrange of mashup of a Super Bowl and open mangle for a tech elite, Austin startup accelerator Capital Factory is rising a competition to “move your association to Austin.”

Ten startups will be selected to competition for a possibility to immigrate their business to a Texas capital. The winning association will accept a package of prizes value around $100,000 donated by Austin area businesses.

They embody $15,000 for housing, $25,000 of try collateral investment, $24,000 value of server hosting and $6,000 in relocating expenses, a year’s value of giveaway storage and even 6 months’ value of groceries.

Capital Factory will yield giveaway work space for 6 months.

The competition is a brainchild of Josh Baer, handling executive of Capital Factory. He’s been nicknamed a “Austinpreneur” for his efforts to to maintain Austin startups and attract new ones.

“The thought came from meditative about how to make a many of all a overwhelming entrepreneurs entrance to Austin for South by Southwest and to gain on a vast liquid of people to Austin and Texas,” he said.

The South by Southwest Festival, that starts Mar 8, keeps removing bigger and Austin has benefited from a success. Previous festivals have served as a rising pad for companies like Twitter and Foursquare, and tech giants from around a universe have taken notice. Over a past few years companies like Apple, Google, and Facebook have all non-stop offices in Austin.

The 5 days of a interactive festival, that coincides with film week and comes a week before a festival’s heading song showcase, attracts many of a biggest names and brightest minds in startups. This year over 25,000 people from all over a universe are roving to Austin for networking, demoing products, and to find out what’s subsequent in tech.

Silicon Valley might have a incomparable tech scene, though with a low cost of living, a business accessible taxation code, and South by Southwest, Austin has turn a critical player, advocates like Baer say.

For Shawn Bose, Vice President of Global Business for uShip, a reason for Austin’s arise is easy to define.

“More than anything, Austin’s an glorious rising pad for tech entrepreneurs since it’s a good place to live,” he said.

Bose, whose association is providing a relocating funds, says a competition is a approach for tech companies to “pay it forward” to others only starting out.

“We were once bootstrapped ourselves, so a idea is only to offer some resources and recommendation to other companies that wish to make it occur in Austin,” he said.

The deadline for entrance is Feb 24, and a competition will be hold during a Startup Village during SXSW on Mar 8.

Companies can enter by going to the

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