Intruders

Saul Klein a serial entrepreneur turned investor, launches Seedcamp at the Essential Web 07 conference in London.

Saul believes that there has never been a better time to start a technology business because by leveraging open source technologies, it is possible to build and deploy web applications quickly and cheaply. Of course, building web applications is the easy part and there are plenty of ambitious young entrepreneurs in Europe who are eager to do this. It’s the transition from shiny new web application to profitable business where the hard work begins and this is where Seedcamp wants to help. By connecting founders with an experienced network of serial entrepreneurs, investors, HR, PR, SEO and product experts, Seedcamp wants to improve first time entrepreneurs’ chances of success.

To take part, entrepreneurs will need to apply using the Seedcamp’s website and the top 20 , chosen by a panel of 7 or 8 Venture Capitalists, will be invited to London for a week of mentoring. After pitching their ideas, 5 companies will be chosen to receive an investment of 50,000 euros each and will be invited to stay in London for the further 3 months to develop their businesses. During the 3 months, Seedcamp will work with the selected companies on a weekly basis. Afterwards, the companies will “graduate” and will get a chance to pitch their business ideas to a group of Venture Capitalists.

Saul Klein hopes that Seedcamp will provide the necessary entrepreneurial boost in Europe, in the same way that Paul Graham’s YCombinator and Brad Feld’s Tech Stars programs have done in the States.

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