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Veniam is the winner of the major Portuguese Venture Competition 'Builidng Global Innovators'
Date:3/4/2013

  • Start-up awarded with an additional 100.000 Euros in financial support
  • The founders will now have the opportunity to double the financial support through the execution of the business plan.
  • Announcement of the 4th edition of the Building Global Innovators & continued financial support by Caixa Capital.

Veniam wins the 3rd edition of Building Global Innovators Venture Competition. The seamless low-cost vehicle-based internet infrastructure developed by the founding members Joo Barros, Susana Sargento, Robin Chase and Roy Russell, dramatically lowers cost infrastructure solution to the Telecommunications company providers, and opens up a new world of connected vehicle applications. VENIAM sells a low-cost box that once plugged into existing vehicles can turn cars, taxis, buses, and trucks into mobile hotspots. The market is as large as the world's one billion cars. The international competition for entrepreneurship and innovation hosted by ISCTE - Lisbon University Institute, in partnership with the MIT Portugal Program, the Deshpande Center for Technical Innovation and The Martin Trust Center for MIT Entrepreneurship Center.

The winner was announced yesterday during a ceremony held at ISCTE-IUL by Walter Palma, responsible for the Caixa Empreender+ Fund, representing the Award Partner of the competition. They also reaffirmed the CGD Group's commitment towards supporting the second phase of MIT Portugal's Innovation and Entrepreneurship Program, promoted IUL ISCTE. This support will be operated through protocol celebrated between Caixa Capital and IUL ISCTE, which foresees the creation of a special purpose investment vehicle and ensures the financial support provided to BGI finalists for the next 5 years. In the future, the financial support will be provided by a new model that hopes to attract investors from Portugal and abroad.

The Grand Finale also counted with the participation of Danny Sands, Ha
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Contact: Slvia Castro
silvia.castro@mitportugal.org
351-210-407-036
MIT Portugal Program
Source:Eurekalert  

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