"Openfund" invests in web "start-up" companies in Southeast Europe

Group of Greek founders of "OpenCoffee", web entrepreneurs and "venture" investors have founded "Openfund", of which aim is to invest in entrepreneurs with innovative and fresh ideas throughout Southeast Europe. The type of investment that "Openfund" provides is "seed" investment, that is, the investment in commencement of development of innovative applications and incorporation. This fund will be financing exclusively web projects.

"Openfund" will invest in maximum 5 web start-up companies per round, and it will provide between 20,000 and 30,000 EUR for each entrepreneur, which is practically enough for a company to be founded and 4 months of undisturbed work on the project. In return, "Openfund" will be entering the ownership structure of the newly formed company by acquiring maximum 20% of the ownership share. What is very important is that, in addition to financial aid, selected entrepreneurs will also obtain free advising services from "Openfund", especially when it comes to legal and tax procedures. Entrepreneurs will, practically, be freed from all those things that steal attention during the first few months of work on the project.

"Openfund" gathers a group of Greek experts for various fields, with very impressive CVs and working experience in technological, financial and consulting companies. According to popular blog "TechCrunch", managers of Google and Microsoft for Greece are also members of this fund.

The invitation for applications will be open prior to September 30, 2009, evaluation and selection will be carried out between October 1st and November 15th, 2009, financing starts on December 1st, 2009, while the next invitation for applications will be announced on December 1st, 2009.

If you have an interesting idea and opportunity to realize it, but you lack money and support, feel free to apply for seed financing with "Openfund" on web address: www.theopenfund.com.