Sowing The Seeds Of Start-Up Success

Budding entrepreneurs will soon be able to enter a worldwide competition that offers €50,000 (£39,400) seed funding to help develop innovative technology ideas.

The contest, run by the Seedcamp organisation, will open to applications later in June, with selected entrants then invited to take part in the Seedcamp 2008 event to be held in London between 15 and 19 September. 

Entrants will be given access to venture capitalists, accountants, and other business advisors to help them develop their business ideas, which will then be scrutinised by a panel of judges to decide which five teams will walk off with the funding. 

In return for seed funding, Seedcamp will take a 10% stake in the new business, a deliberately low percentage so that the entrepreneurs do not have to give away a large portion of their companies. 

Seedcamp’s chief executive, Reshman Sohoni, is particularly keen for more students to take part in this year’s contest. 

She said: 

“It’s a lot easier to take risks and start your own business when you are young. 

“When you are older you have more responsibilities, such as a family and a mortgage.” 

The programme is open to teams of between two and five entrepreneurs. Any business idea must embrace the internet, and any product involved should be at the prototype stage. Seedcamp prefers to support pre-launch companies, but is willing to support early-stage projects that have not gained significant financial support or media attention. 

For further information about the scheme, which is expected to launch in late June, visit the Seedcamp website (opens a new window)

Fonte: The Scotsman, 09/06/2008