Articles for March 2011

Round IV Winners are Announced, Round V Applications Open Up

Today is a big day for the Openfund. We are thrilled to announce 3 more companies entering the Openfund and the next call for proposals for you to become the next one.

The teams selected to participate in the fourth round of our operations are:

TaxiBeat, a team of three from Athens, uses the mobile technology to connect taxi drivers and passengers by enabling taxi drivers to advertise their location and availability to nearby passengers who are searching for a taxi using their smartphone.

GourmetOrigins.com, a team of two from London and Barcelona, is an online platform that aims to address the increasing consumer demand for unique foods and food related experiences. GourmetOrigins.com aspires to become the point of reference for premium food items and their delivery across Europe.

Kamibu, a team of seven from Athens, is the company behind Virtual Life (working name), a revolutionary browser-based 3D MMORPG for gamers with a PC or smartphone. Gamers may engage simultaneously online and in real-life through short quests like going to the movies or planting trees in the park, provoking real-life and online interactions.

All teams will receive, next to seed funding, extensive support from the Openfund executives and advisors on all things start-up, enabling them to launch great products within the next few months. We are thrilled to have already started working together with these teams, and we look forward to leverage on their vision, commitment and talent to make three successful companies happen.

 

In the context of this announcement, we are equally excited to open today the call for proposals for the Openfund’s fifth round of operations. Entrepreneur teams are welcome to apply by filling the form here. As usual, early applications enjoy the advantage of timely feedback, enabling a resubmission before the deadline.

Founders are also encouraged to take a close look at what we are looking for, our process, the FAQ and best practices that may be found across this blog before proceeding with their application. The selection process is set to begin on May 1st, with the final decisions being made in the beginning of June. Similar to our latest round, winning teams will receive 30.000-50.000€ for 15% of equity.

We are looking forward to make the most of our resources to help entrepreneurs start-up and make great prospects materialize. Applications close Saturday, April 30.