A contest for Web entrepreneurs offers to pay a young company to move to Austin . It will award $ 100,000 to move and fund a startup during South by Southwest . Capital Lab is a tech accelerator in the Web - savvy city . `` More than anything , Austin 's an excellent launching pad for tech entrepreneurs because it 's a great place to live , '' he said . Participants The contest is a way to give back to up - and - comers in Austin .
A contest for Web entrepreneurs offers to pay a young company to move to Austin . It will award $ 100,000 to move and fund a startup during South by Southwest . Capital Lab is a tech accelerator in the Web - savvy city . Participants The contest is a way to give back to up - and - comers in Austin .