Articles for March 2010

Round 2 applications are in, stay tuned for the winners!

We are happy to report the successful conclusion of our second round of applications on February 28. Similarly to the first round, we received a broad set of submissions, associated to software, the web and mobile, among other relevant areas. We are very pleased with the quality of the teams and potential of the ideas collected, while we are eagerly looking forward to work closer with the teams, starting from the reviewing phase.

The graphs below provide insights on the submissions collected, starting from the cumulative distribution of submissions per day, which in this round proved to be more gradual.

Applicants came from 20 countries around the globe, including ones as far as Brazil & Australia. Naturally, 15 countries were European ones, while 55% of all applicants originated from Greece. The map below provides a closer look to the European submissions.

Of equal interest is the self assessment of the applicants’ skills, according to the scale provided within the application template. Expectably, applicants consider themselves more technically than business experienced, while the distribution of self-assesed skills looks much better than that of official degrees.

Our part of the challenge has just started. In compliance to our schedule, the essential process of first stage reviewing is now under way, as the Executive Board is collaborating with our advisors to assess every application received. Applicants should be informed by next Monday March 15 on their success proceeding to the next round or not, while receiving extensive reviews on their initial applications.

To those applied, let us stretch that the real benchmark begins now. In the 1.5 months to follow we will be asking for things from these teams and will be measuring their turnaround time, their insights, their ability to filter noise and so on; this is how we get to know you better and eventually shape our decisions on working further with you.

Should you be willing to apply and you didn’t, please get prepared to do so in our next call for applications, which is expected to open in about two months; that’s really soon. In the meanwhile, we intend to leverage our experience thus far and return significant value to all participants and the ecosystem at large, while finally selecting the greatest of teams to work with during the second round of the Openfund.