Innovacorp on Wednesday in Sydney will unveil its first-ever Intersect Challenge, which aims to introduce potential startup entrepreneurs to a bona fide business that is looking for a solution to a problem.

The Intersect Challenge allows owners of an existing business to present a problem they're dealing with. The competition then asks aspiring entrepreneurs to pitch a solution that uses digital technology. The team with the winning pitch will receive a cash prize of $5,000, as well as their first customer in the existing business.

“The Intersect Challenge will highlight real business problems that need to be solved,” Bob Pelley, Innovacorp's Regional Manager for Cape Breton and Northern Nova Scotia, said in an email. "This will bring outside perspectives to the startup community and help them to think more globally as they develop products and solutions."

This year's first problem presenter will be Snow White Laundry, a dry cleaning and laundromat in Sydney.

The two-hour event will start at 6 pm on Wednesday at the Navigate Startup House.

To register, email Innovacorp’s Holly Chisholm.