Equity crowdfunding portal Seedrs has been selected to be the investment partner for the Million Pound Startup Contest. The UK based platform will facilitate the contest by having the £1 million will be invested through the Seedrs site.
The Million Pound Startup contest will seeks to discover the most impressive company from anywhere in the world which has the potential to turn £1 million investment into a £100 million. All within five years. The process will officially launch on May 23rd.
Seedrs is currently inviting possible investors to learn more about the process. They will be hosting a series of events during the month of May to educate and answer questions pertaining to the competition.
Equity crowdfunding has been growing rapidly in the United Kingdom and Seedrs is part of an elite few which has successfully launched an equity platform. Recently they announced surpassing the £1 million raised mark.
The Million Pound contest was created in order to stimulate and showcase the best talent on a global basis. The objective is also to strengthen London’s position as an incubator for some of the freshest, most innovative ideas in today’s digital landscape.
The competition is open to anyone over the age of 18 from anywhere in the world. The guidelines are very succinct:
- The idea / product / startup has to be less than 10 years old.
- It should not have turned over the equivalant of £1,000,000 (i.e. it has never made a Million pounds in revenue)
- The winner is willing to re-locate the startup’s HQ to London.
Entries are currently being accepted until noon on August 29th of 2013. A winner will be announced this coming December.