ATHENS, Greece, November 17, 2010 /PRNewswire/ -- The Openfund (http://theopenfund.com), the Leading SE Europe Seed Fund is receiving applications until November 30th, closing date of its Call for Proposals for innovative technology ideas looking for funding and support.

Applications are now accepted at: http://theopenfund.com/apply/idea

The Openfund, the leading high-tech, seed capital fund in South-eastern Europe, invites entrepreneurs to form teams of 2-4 to submit their idea on the online application. Submissions should be in the software, web and mobile verticals, be global in scope and highly innovative. Up to eight teams will be selected to receive 30-50k Euro of funding along with extended mentoring, networking and support in exchange for 15% of equity.

Entering its second year of operations, the Openfund has already provided funding and support to five start-up companies across Europe, ranging from Nicosia to Glasgow and Sofia to Kiev. Products successfully deployed include a social media analytics service, a fashion discovery platform and a similarity search engine for stock images, next to other services leveraging web and mobile platforms.

"The honour of being mentioned by the Greek Prime Minister as an example of innovation and growth for the region, in the context of his keynote speech at the International Thessaloniki Forum, is indicative of the growth we target and the impact we intend the Openfund to have on the local entrepreneurial ecosystem," said George Tziralis, Executive Director. "We are pleased to inform that this call for proposals is accompanied by improved terms for aspiring entrepreneurs. The amount of funding offered has almost doubled to EUR30.000-50.000 for the same equity stake of 15%. An extended board of advisors and accumulated experience further increases the added value we deliver to selected entrepreneurs."

About The Openfund

The Openfund aims to bridge the gap between aspiring entrepreneurs and inventors and early-stage investment capital required to bring their ideas to life. Its founding members bring world class expertise in setting up successful technology businesses. Beyond seed-stage funding, the Openfund also provides entrepreneurs with assistance in all aspects of setting up their businesses, including technology and product development, business development and sales, marketing and legal support, among others. For more information about the Openfund, visit: http://theopenfund.com.

Note to Editors:

A press kit is available at http://theopenfund.com/resources

Media Contacts:

Georgios Kasselakis (gk@theopenfund.com, +30-697-3784107)

George Tziralis (gt@theopenfund.com, +30-693-7122065)

SOURCE: The Openfund

CONTACT: Media Contacts: Georgios Kasselakis (gk@theopenfund.com,+30-697-3784107); George Tziralis (gt@theopenfund.com, +30-693-7122065)