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Seedcamp is run by a collection of investors, organise contests rewarding the winners with three months paid support in London.
Prior to the main week long Seedcamp, mini-Seedcamps are run across Europe with 2009 seeing the first middle east Seedcamp. The mini-Seedcamps can reward their winners with smaller amounts financial aid, or shortlist them as one of the twenty ideas to be considered to win one of five prizes.
Seedcamp was set up in 2007 in an attempt to foster entrepreneurship and star-up buisnessess in Europe, which the organisers of Seedcamp saw as lacking in Europe especially when compared to the USA. Since its first annual event in September 2007, Seedcamp has grown and ran a total of eight events in 2009.
The grand prize of up to €50,000 and three months support in London has helped many of the winning teams reach profitability in amazingly short time.