After the successful day of Startup Sauna Warmup we applied also for Mini Seedcamp Prague. Seedcamp is an early-stage micro seed investment fund and mentoring programme which has been called a global answer to Y Combinator http://www.forbes.com/sites/parmyolson/2011/04/15/seedcamp-a-global-answ…. Our application managed to convince the referees and we are in the contest! The application process was far more rigorous this time. Even going through the questions can help you crystallize your ideas for the startup. Because the questions asked are difficult but important. Also, the number of applicants is huge, so they need the info to choose the most promising ones.
From the Seedcamp site:
Seedcamp’s standard investment is: €50,000 for 8-10% per cent of the company. Seedcamp invests several times a year through Mini Seedcamps and the Seedcamp Week in September held in London. Generally, every event includes 20 startup teams selected from all over EMEA to attend and compete for seed funding and garner world-class connections for startups plus 60-80 mentors.
What happens after a Mini Seedcamp? The winning teams will be invited to stay in London for a further 3-month period to work on building their business idea and product further.
What follows now, is an intense 2-3 days of learning and networking. Of course, the pitch is going to be only part of the selection process, it is exciting to pitch for an international audience for the first time. Wish us luck!