Lisbon Challenge

NO LONGER APPLICABLE THEY’RE TAKING EQUITY NOW

Great museums, great weather, great beaches, and it’s home to the Web Summit—Lisbon, Portugal has it all! Apply to this startup accelerator and receive a $1,065 travel and accommodation grant, plus one-on-one mentoring, free office space, and the chance to win valuable prizes.

Deadline for applications is July 15, 2017. Follow Lootstrap on Facebook for updates!

Award Amount

  • €1000 (approx. $1,065 USD)

Location

  • Lisbon, Portugal

Length

  • 3 months

Benefits

  • Continuous one-on-one mentoring and support
  • Global mentors and workshops
  • Help with structuring your startup, defining KPIs, and prioritising your roadmap
  • Coaching and practice to assist you in achieving the perfect pitch
  • Social activities to foster teamwork and prevent burnout
  • Weekly meetings to help work/life balance
  • Free office space and infrastructure in the Lisbon city center
  • Prizes awarded for the best teams
    • One 1st prize: €75k (approx. $80k USD) convertible note by Caixa Capital
    • Five 2nd prizes: €50K (approx. $53k USD) equity investment from LC Ventures
    • Other prizes, such as design/branding support from Ogilvy

Who Can Apply

  • Startups that are in the product-development phase focusing on product-market fit
    • Building final versions based on recent problem-solution validation
    • Lean analytics with customer-behavior-based conclusions
    • Scaling up to an international market
    • Not looking for startups focusing on growth, sales or internationalization
  • Applicants must be 18 years or above
  • International candidates welcome
  • Minimum two members of your team should stay in Lisbon during the program
  • Fluent in English (all sessions will be conducted in English)

Selection Criteria

  • Quality of your team—provide a good description with an eye to the following factors:
    • Execution capacities and analytical skills
    • Founders that cover both business and product/technical sides
    • Each individual team member’s role, motivation, background etc.
    • Clear description of equity distribution
  • Clear, concise, thorough description of your product and business
  • Explain your idea-validation process: what tactics were used and conclusions drawn
  • Startups recommended by Lisbon Challenge alumni or Beta-i network member preferred
  • Sell your vision and provide a clear roadmap to reaching it
  • Share any metrics on traction, KPIs or analytics and explain your conclusions
  • Innovative ideas and business model
  • Quality of your pitch video
    • Introduce the founders
    • Show your progress with your idea
    • Describe your current phase
    • Show where your startup is heading

Application Process

Conditions

  • At least two members of the team must stay in Lisbon for 3 months
  • Team should be committed to participate in all mentoring sessions, events, etc.

Post-Program Perks

  • International alumni program

Website