MITEF Greece Startup Competition, Press Release

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MIT Enterprise Forum Greece announces the first-ever MITEF Greece Startup Competition, a technology accelerating competition, in which local technology startups and teams will compete for prizes and global recognition that will further their startup goals. Based on the principle of ‘fair play’, this beneficial competition aims to unlock the growth potential of Greek startups or early-stage business groups and maximize their performance in order to scale to reach a global market.

If you have an exciting new product or service, participating in MITEF Greece Startup Competition will give you access to the practical knowledge, mentorship, and resources to take your venture to the next level. Competition winners are aspired to be the best of the best in Greece and will receive global recognition through the MIT Enterprise Forum Global, a global network of 28 chapters devoted to enabling early-stage entrepreneurs to transform ideas into world-changing companies, as well as through MIT Technology Review, a media company wholly owned by MIT. Furthermore, the three finalists will be awarded prizes that will help them build and grow their business.

 

Outline of the competition

  • First round: Nominations will be open to any eligible team or company on November 17, 2014, as our contribution to the Global Entrepreneurship Week, and the deadline is January, 10, 2015. All interested parties should complete their registration to the online competition portal mitefcompetition.org/greece. In January the judges will select the top 25 entries. Semifinalists will be individually notified and advance to the second round.
  • Second Round: Starting from February till April, 2015 the selected 25 companies will be assigned mentors and go through a carefully designed series of free workshops –such as Perfect Pitch, Legal matters, Marketing, Finance/Tax- by local and international partners. The judging of the 2nd round will be done through live presentations and the result will be the top 10 teams that will proceed to the finals.
  • Final Judging & Award Ceremony: The final 10 startups will get on stage in late June 2015 to pitch live to a high-profile panel of judges, which will select the winner and 2 runner ups. All winners and participants of the MIT Enterprise Forum Greece Startup Competition will be celebrated.

 

Eligibility

All participating teams must:

  • Be technology-oriented ventures.
  • Have a working prototype of product or service.
  • Be incorporated companies or teams planning to incorporate soon.

Specifically:

  • The companies must be incorporated in Greece or
  • Companies incorporated abroad must have:
  1. A) A founding team of more than 50% Greek nationals or
  2. B) More than 50% of the company’s development operation takes place in Greece
  • Companies or teams have at least three team members, with a maximum of six individuals.
  • At least one team member must be currently living in Greece.
  • All participating team members must be at least 18 years old.
  • If the startup company is incorporated, the company must have been incorporated less than 3 years ago by the end of application period (January, 10, 2015).
  • If startup venture was previously funded, it must have been funded no more than 500,000€ or the equivalent of $650,000.

Please advice legal Rules and Terms of participation for MITEF Greece Startup Competition.

 

 

For more information, all interested parties are invited to visit the online competition portal www.mitefcompetition.org/greece and subscribe to the mailing list (Sign Up for Updates) to receive updates. Reports will be periodically published on MITEF Greece’s website and social media.

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