Articles for December 2010

As the 4th Call for Proposals Ends, the Real Action Begins

The call for proposals for our fourth round of operations was closed this midnight. First of all we would like to extend a warm “thank you” to all the entrepreneurs who entrusted us with their applications and the responsibility to review them. We cannot help being excited by the volume and quality of the proposals that came in and we are now hard at work to make great start-ups happen.

Here are a few more details and demographics on the applications received, next to the steps and dates to the selection process to follow.

The submissions span 24 countries, mostly Europe, but also India, Brazil and the States. Applicants from Greece stood for a diminishing 50% of the total, while the European map below pictures the geographical distribution of the applicants in more detail.

The next graph provides a closer look at the time distribution of the applications received. No surprises here, almost half of the applicants submitted in the last couple of days before the deadline.

Another interesting perspective regards the skills spectrum, as it was reported by the applicants themselves. The graph reports a wide blend of capacities across the founders, both in technical and business issues.

What now follows is the selection process, which takes place in three stages. First, selected executive board members and advisors will review each one of the applications received. The full reviews and feedback collected will be returned back to the applicants by Friday December 10, next to the decision to proceed to the next stage or not.

Successful applicants will then be required to submit a full business plan, before getting interviewed from our full executive board. Interviews will take place on Monday, December 20. Finally, the best teams will get to present in front of our executive board, investors and advisors on Saturday January 8, 2011, with the selected teams being announced right after.

We are enthusiastic for this round and confident that, with such a great pool of entrepreneurs and partners, fantastic start-ups are in the making; stay tuned for the updates.