Lisbon Challenge

NO LONGER APPLICABLE – NOW TAKING EQUITY 

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