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

rvard Medical School and serial entrepreneur; Jonathan Green, Board of Directors of Common Angels, Inc and serial entrepreneur; Paulo Ferro, Director of MIT-Portugal Program (MPP); and Pedro Carneiro, member of the board of Fundao para a Cincia e Tecnologia (FCT). They all were supportive of the competing startups and of this initiative, recognizing it as part of the strategic plan for the development of the entrepreneurship in Portugal.

Veniam will benefit from an extra financial support of 100.000 euros in addition to the previous award received last November, when it was selected as finalist at "Sustainable Energy & Transportation Systems" track. This amount can be doubled during over the next 3 to 5 years if it can meet the agreed , agreed milestones over the next 18 years. The promoters of the winning team will also have the opportunity to pitch for a restricted international investor groups during e-Teams III boot-camp & a 2-week business development trip to MIT, Cambridge, Massachusetts

The four finalist start-ups - Veniam, RDFixer, faces.in and D-Orbit - already have assured 400.000 euros of financial support, destined to the implementation of "Go to Market" strategies developed in collaboration with the organization during the six months of the competition. Furthermore, these teams will be granted direct access to Caixa Capital - the venture capital partner- to whom they will have privileged access to present and discuss their projects.

For Charles Cooney, Faculty Director of the Deshpande Center for Technological Innovation and Co-Director of the MIT Portugal Innovation and Entrepreneurship Initiative, "this year's finalists are a testament to the depth and breadth of innovative and entrepreneurial activity in Portugal today. These teams demonstrate the ability for global impact and the opportunity to for disruptive technological change in multiple industries and in our lives: Improving health care, enhancing our connectivi
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Contact: Slvia Castro
silvia.castro@mitportugal.org
351-210-407-036
MIT Portugal Program
Source:Eurekalert  

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