Seedcamp is an intensive week long event held in September in London targeted at young entrepreneurs from across EMEA.
We've set it up to provide seed funding and world-class connections for startups. September 2007 is the first group of startups we will look at for funding. We are planning to have such an event annually.
We will be holding an open application available online. Based on this, we will select up to 20 companies to participate in the event.
We will focus this week around providing an incredible experience for the 20 selected teams.
There will be a diverse mentor network of serial entrepreneurs, corporates, product designers, venture capitalists, recruiters, marketing specialists, lawyers and accountants that will help the selected teams put together the foundations of a viable business.
The aim of this week is to collapse the time it takes start ups to make and develop these critical relationships from months to a week and establish an unrivalled foundation on which the business can be built.
At the end of the week we will make the funding decision to invest €50K each in 5 teams for a 10% stake.
The funding amount is purposely kept low enough that teams do not have to give away a large portion of their companies. The idea is to take enough money to develop a great product and build towards a higher valuation. As such we do not require preferred stock, board rights, or other rights often required by institutional investors.
If a team that is selected agrees to take the investment, the funding will be sufficient for them to move to London for at least three months.
The goal of this 3-month period is to help grow and nurture the teams by providing the same level of intensity and in-depth focus on developing the product and business.
During the course of the three months, the groups will have an opportunity to take advantage of the same ecosystem of experts which participated in the Seedcamp event through weekly dinners and continued mentorship on various issues from scaling the business to raising further funding to M&A. Additionally, during the three months, we will also do all the paperwork of getting your company set up properly.
Six weeks into the project, we will have a demo day where teams can show their products to the other groups from Seedcamp and a select group of investors. And ten weeks into the project we will host an investor day where startups can present to potential investors.