“As this year’s Seedcamp week in London approaches, we’ve been reflecting on our own journey since participating in the programme two years ago.
“Without doubt, winning Seedcamp 2007 was a defining moment for us. Bagging the top prize brought many rewards. Aside from the cash component (€50,000) and seeing a positive bank balance for the first time, it gave us the confidence to push forward with our idea and build an alpha site. “Being surrounded by very smart people every day for a week at Seedcamp, all willing to help you will, is an extremely positive experience for budding entrepreneurs – but how to make sense of all that advice is key for this year’s participants. I don’t think there are any easy answers. My advice to this year’s startups is to do much more listening than speaking. As the week progresses, you’ll develop a good feel for which parts of your proposition and strategy work and where you’ll need to rethink.
“Two years on, we have been battling hard to take our initial great idea, which only existed in PowerPoint, and turn it into a live public site. We are now in our second round of fund-raising and it really helps to have a small group of trusted advisers to help filter the advice we are getting. Establishing a strong network of contacts around you is fundamental – do it right and these people will help you shape and evolve your business for long-term success."
Seedcamp week takes place on 21-25 September 2009 at University College, London, and connects budding entrepreneurs with over 400 mentors ranging from seed investors, serial entrepreneurs, HR and PR specialists, marketers, lawyers, recruiters, journalists and venture capitalists. Seedcamp’s standard investment is €30,000-50,000. The detailed schedule can be found here.
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