FAQ's

MITEF GREECE STARTUP COMPETITION 2014-2015 – FAQ's

1. What industries are relevant to this competition? 

MITEF Greece Startup Competition is a technology accelerating competition. We expect applications for ventures in fields such as:

• Biotechnology & medicine                  
• Computer & electronics hardware
• Energy                                                
• Internet & web
• Nanotechnology & materials              
• Software
• Telecommunications                          
• Transportation

2. Who are the judges of the MITEF Greece Startup Competition?

The competition judges are carefully selected individuals from Greece and abroad with relevant experience and expertise such as venture capitalists, angel investors, lawyers, entrepreneurs, business executives, academics and other successful and knowledgeable business leaders. More details about the judges bios will be available soon on the MITEF Greece website.

3. How many judges will review my application? 

3 judges will review each application. They will be selected from the available pool in such a way that their expertise will be relevant to the application’s field of interest. Judges are asked to provide unbiased feedback on each application in order to select the 25 teams that will proceed to the 2^nd round.

4. What are the key judging criteria when reviewing the applications?

Judges will be looking at a range of criteria including strength of technology usage, proof of concept (working prototype or service), level of innovation, knowledge of the market, market fit, team’s background, know-how and abilities and company’s growth potentials in the global market. Each judge’s score is weighed equally. The overall selection is based on the viability and likely success of the business.

5. Does my team have to have only scientists or researchers?

Launching a successful startup requires a variety of disciplines and skills. Therefore it is strongly advised to have a sufficiently diversified team with members covering multiple backgrounds. Having team members or Advisory Board members with business backgrounds (marketing, economics, sales etc) will improve significantly your effort and hence your application.

6. Who are the mentors and when can I have access to them?

Each of the 25 semi-finalists (2^nd round) will be assigned at least 2 mentors, from the business or academic community, to assist in improving the performance of the team prior to the final round of judging. Through their mentoring, semifinalists will refine all aspects of their venture focusing especially in the areas of their business that need more attention to excel. Selected mentors have backgrounds in a variety of disciplines including: finance, legal, business operations, communication and marketing and so on. More details about mentors bios will be available soon on the MITEF Greece website.

7. What is the content of the workshops and do I have to attend them?

The 25 semifinalists will have the opportunity to attend a variety of workshops that will help them develop and refine all aspects of their venture. The workshops will be focusing on business skills and issues such as legal, finance, tax matters, pitching, human resources, communication and marketing. Attendance at the workshops is not required for the whole team, but is strongly recommended for at least one team member.

8. What about securing Confidentiality & Intellectual property?

Please read thoroughly the “Rules and Terms of Participation” before entering the competition. When you submit your entry to the MITEF Greece Startup Competition, the judges and mentors who review your materials do not sign non-disclosure agreements. Therefore, you should assume that any information submitted to the competition is not protected, and plan accordingly. This is the same situation as when giving an initial pitch to a VC.  VC’s almost never sign NDA’s for the initial pitch. Therefore, you need to craft your materials to present what you can without revealing any information that would compromise your IP protection strategy. That been said, the judges and mentors are experienced lawyers, entrepreneurs, and VCs who understand the confidential nature of information presented to them.

9. How will I be notified about my application status?

All applicants will receive feedback from the judges electronically through the competition platform. The 25 semifinalist will be notified directly and announced online through the competition platform and MITEF Greece’s website mitefgreece.org

10. How can I receive general updates concerning the competition or MITEF Greece?

You are welcome to join our competition mailing list and our newsletter list.

Also if you have any further inquires regarding the competition please email us at competition@mitefgreece.org