After announcing an operational pause in October, local pitch competition TCNewTech is now coming under the 20Fathoms umbrella. The two organizations announced in a joint release Monday that TCNewTech pitch competitions will become a program fully owned and operated by 20Fathoms in early 2024. The pitch competitions will return in the spring under 20Fathoms’ leadership.

Founded in 2015, TCNewTech has offered monthly pitch competitions where startup founders compete for a $500 prize awarded by audience vote. Since its founding, more than 250 companies have pitched, and $40,000 in pitch prizes have been awarded. The pitch events have helped launch local startups including Hybrid Robotics, First Ignite, Stocked, and MeetingMaker.

According to the joint release, the TCNewTech program "will be seamlessly integrated into 20Fathoms services for tech entrepreneurs. Pitch presenters can expect access to wrap-around startup services that support their business success including pitch coaching, mentorship, business education, professional service providers, and connections to funding sources and a valuable network. Investors, business mentors, and local startup enthusiasts can expect high-quality pitch competitions with investable presenters, a fun and energetic atmosphere, and new themed events."

20Fathoms will be hiring a full-time manager to produce the TCNewTech pitch competitions and other events. 20Fathoms is also inviting the public to submit feedback and ideas about pitch events.

"As the founder of TCNewTech, I am thrilled to witness this new chapter under the stewardship of 20Fathoms,” said Russell Schindler. "Their exceptional expertise, coupled with their commitment to nurturing tech talent, assures me that TCNewTech will not only regain its former glory but also soar to new heights. I wholeheartedly support this move, confident in the knowledge that 20Fathoms will infuse TCNewTech with renewed energy and resources, enabling it to continue being a pivotal first step for companies embarking on their funding journey."

According to 20Fathoms Executive Director Eric Roberts, "20Fathoms is committed to investing both time and resources into making the TCNewTech pitch competitions a not-to-be-missed experience for founders, investors, and startup enthusiasts throughout Michigan."