The Openfund Offers Funding and Support for Ideas of Technology Start-Ups; Call for Proposals is Now Open

Oct 12, 2010, 08:58 ET from The Openfund

ATHENS, Greece, October 12, 2010 /PRNewswire/ --

- The Leading SE Europe Seed Fund Opens its 4th Round for Proposals on the Heels of its Recent Recognition by the Greek Prime Minister

The Openfund, the leading high-tech, seed capital fund in South-eastern Europe, invites entrepreneurs to form teams of 2-4 to submit their idea on the online application form until November 30, 2010. Submissions should be in the software, web and mobile verticals, be global in scope and highly innovative. Up to eight teams will be selected to receive 30-50k Euro of funding along with extended mentoring, networking and support in exchange for 15% of equity. Applications are now accepted at: http://theopenfund.com/apply/idea

Entering its second year of operations, the Openfund has already provided funding and support to five start-up companies across Europe, ranging from Nicosia to Glasgow and Sofia to Kiev. Products successfully deployed include a social media analytics service, a fashion discovery platform and a similarity search engine for stock images, next to other services leveraging web and mobile platforms.

"The honour of being mentioned by the Greek Prime Minister as an example of innovation and growth for the region, in the context of his keynote speech at the International Thessaloniki Forum, is indicative of the growth we target and the impact we intend the Openfund to have on the local entrepreneurial ecosystem," said George Tziralis, Executive Director. "We are now pleased to inform that this new call for proposals is accompanied by improved terms for aspiring entrepreneurs. The amount of funding offered has almost doubled to EUR30.000-50.000 for the same equity stake of 15%. An extended board of advisors and accumulated experience further increases the added value we deliver to selected entrepreneurs."

Early submissions will receive timely feedback to allow resubmission of an updated application. It is therefore recommended for start-ups to apply early enough in order to have time to improve their proposals upon feedback and increase their chances of acceptance. The selection process will conclude on January 10th 2011, with the selected companies being announced. Applications to the Openfund are open until November 30. Visit http://theopenfund.com/apply/idea to apply.

About The Openfund

The Openfund aims to bridge the gap between aspiring entrepreneurs and inventors and early-stage investment capital required to bring their ideas to life. Its founding members bring world class expertise in setting up successful technology businesses. Beyond seed-stage funding, the Openfund also provides entrepreneurs with assistance in all aspects of setting up their businesses, including technology and product development, business development and sales, marketing and legal support, among others. For more information about the Openfund, visit: http://theopenfund.com.

    Note to Editors:
    A press kit is available at http://theopenfund.com/resources
    Media Contacts:
    Georgios Kasselakis (gk@theopenfund.com, +30-697-3784107)
    George Tziralis (gt@theopenfund.com, +30-693-7122065)


SOURCE The Openfund