MITEF Greece Startup Competition 2020: Energy
Presented by MIT Enterprise Forum
MITEF Greece Startup Competition 2020: Energy
The MIT Enterprise Forum (MITEF) Greece Startup Competition is a business skills accelerating competition in which Greek technology startups compete for prizes and international brand recognition. If you have an exciting new product or service in the energy sector, participating in the 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 the best of the best and will receive global recognition through the MIT Enterprise Forum Global, a global network devoted to enabling early-stage entrepreneurs to transform ideas into world-changing companies.
The “Energy Track” is designed to help ventures in fields such as decarbonization technologies in oil refineries, digitalization in refining, next generation biofuels, energy storage, renewable energy sources, alternative liquid fuels for lower GHG emissions and electromobility.
Frequently Asked Questions
1. What industries are relevant to this competition?
MITEF Greece Startup Competition is a business skills accelerating competition focusing on technology startups. We expect applications for ventures in fields such as:
• Biotechnology & medicine
• Computer & electronics hardware
• Internet & web
• Nanotechnology & materials
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 teams that will proceed to the 2nd 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 semi-finalists (2nd 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 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. At least one team member must attend each of the workshops.
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 being said, the judges and mentors are experienced lawyers, entrepreneurs, and VCs who understand the confidential nature of the information presented to them.
9. How will I be notified of my application status?
All applicants will receive feedback from the judges electronically through the competition platform. The 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 newsletter list.
Also if you have any further inquiries regarding the competition please contact us at firstname.lastname@example.org
Not currently accepting entries for this competition.