Founder Dianna Somerville said organisers were seeing some amazing entries from across the country, but there were still many people sitting on their ideas.

“A lot of people have asked us the same question: ‘Is my idea good enough?’ The simple answer is that an idea is worth nothing if you don’t do anything with it,” she said.

“We all have to start somewhere, and the Australia Post Regional Pitchfest is an encouraging, inclusive and low-risk way of taking that next step.”

State and territory finals will be held in June and July, before the national final in Wagga Wagga in August.

Australia Post small business general manager Rebecca Burrows said being a finalist or winner “can connect you with important contacts and help you commercialise your bright idea or product improvement”.

“This competition is open to anyone living in regional and rural areas, so if you know someone who has a great business idea, but who maybe needs some more support to take it to the next level, then Australia Post Regional Pitchfest is absolutely for them,” she said.

“As well as the Pitchfest competition itself, finalists will be offered opportunities to grow their business idea with networking events, workshops, and mentoring to improve their business connections, build their confidence and get to the next level.”

Entrants will need to complete an online application form, upload a one-minute video pitching their idea, and attach a 200-word bio.

Last year’s winner was 13-year-old Wagga Wagga student Michael Nixon, who won $7500 for EduKits, his online business helping educators, parents and student find and buy 3D printers and related resources.