Seedcamp is a week long event to help European tech startups which aims to bring together young entrepreneurs with mentors, VCs and other experts.

The team behind Seedcamp includes Saul Klein, venture partner at Index Ventures. Twenty startups will be invited to the event, with the best five teams receiving funding for their ventures.

The event will take place in September in London. with the five winners each receiving £50,000 in return for a 10% stake in the company. If startups choose to accept this funding, they will then be invited to London for three months, where the mentoring will continue.  

According to the Seedcamp site:

“Europe has all the right ingredients – environment, talent, capital and role models – to build world beating technology businesses. It’s hard for young entrepreneurs to secure funding, develop the right connections and build teams to supercharge their business”

Seedcamp was inspired by US startup project Y Combinator, while YEurope announced a similar project based in Vienna earlier this year.