The 100 Start-ups with best growth potential in the world selected to participate in the Global Entrepreneurship Competition
Date: Tue, 05/05/2009 - 12:21
26 institutions from around the world joined the nominating committee of this pioneering initiative to select the most innovative business plans and early stage ventures to participate in the tournament
100 best business plans from the most innovative companies in the world have been selected to compete in the Global Entrepreneurship Competition, a pioneering initiative bringing together entrepreneurs and investors from around the world at the World Innovation Congress HiT Barcelona next June.
The World Nominating Committee, formed by 26 institutions worldwide, selected an initial list of these early-stages / business plans and with further analysis will nominate the 24 finalists who, along with the three winners of the Spanish tournaments Premio Emprendedor XXI organised by la Caixa and the winner of the Catalan Fòrum d’Inversió by ACC1O will compete in the finals of the Global Entrepreneurship Competition.
The finals of this international competition will be on the 18th of June at HiT Barcelona, a global summit dedicated to innovation expected to gather 2,500 business leaders from around the world.
MIT (Boston), Berkeley (University of California), whose joint collaboration on such a project is a first, the Cambridge University Business School and INSEAD (Paris) are some of the most renowned centres having joined the World Nominating Congress.
The Global Entrepreneurship Competition also includes existing entrepreneurial development programs: in Spain, the Premio Emprendedor XXI organised by la Caixa and the Ministry of Industry, Commerce and Tourism, and the Catalan Fòrum d’Inversió organised by ACC1O under the Department of Innovation of the Autonomous Government of Catalunya. The World Nominating Committee is headed by Professor Jerome S. Engel, Executive Director of the Lester Center for Entrepreneurship and Innovation at the University of California (Berkeley).
The nominatees come from 24 countries and are focused on sectors as diverse as biotechnology, telecommunications, software, chemistry, education, industrial design or finance. The products and services developed by these young ventures are quite diversified, from e-learning platforms for institutions, artificial skin for burn treatments, cancer treatment via laser to urban waste management programs via Web-GPRS, and a web platform to promote journalism by citizens.
The Global Entrepreneurship Competition is a unique opportunity for young innovative companies from around the world to raise capital required to develop or promote their businesses. The projects are selected based on innovation, market impact, growth prospects, potential for economic return and global relevance.
To enter the tournament a venture should meet the following profile:
- No sector or industry restriction
- Activity started after January 1st, 2004
- Maximum € 3 million sales
- Less than €1 million investment rounds
- Competitive edge technology
- Projected growth and global market impact
The 28 finalists will have the opportunity to present their businesses to the investment community attending the summit: private investors; business angels; venture capital firms; institutional, public and private fund managers; family offices etc. All attendees will receive a budget of HiT currency they will be able to “invest” in their preferred projects, the winners being the projects receiving the largest investments.
Participants are competing for:
1. A € 90,000 Award divided into:
• 1st Price of € 50,000
• 2nd Price of € 20,000
• 3rd Price of € 10,000
• Best Presentation Award of € 5,000
• Social Value Award of € 5,000
2. Participation to entrepreneurial development programs organised by Barcelona Activa and 22@ Barcelona.
3. All participating entrepreneurs will be offered office space in the technological district of 22 @ Barcelona to set up their European headquarters.
For Jerry Engel, president of the World Nominating Commitee “this competition is a unique opportunity to bring to Barcelona the most innovative business plans and startups in the world and give them the opportunity to be the benchmarks of the future.