Inscriptions are open for Desafio Sua Ideia Vale um Milhão 2012 (Your Idea is Worth a Million Challenge 2012).
The contest, launched by Buscapé, is aimed at social and mobile commerce proposals in various stages of development, ranging from projects still in the idea phase to businesses that are already up and running. The objective of the competition is for Buscapé to select and invest specifically in the winning project – not in the company or group, as is often the case in other similar initiatives. Buscapé will award the winners R$300,000 in exchange for 30% of the company’s shares.
A number of successful projects have emerged from Sua Ideia Vale um Milhão, including Hotmart, ResolvaMe, Urbanizo and MeuCarrinho. Last year, over 800 projects applied for the contest. This year, that number will surely grow.
Contest organizers have also included a new feature this year, giving the top five projects the opportunity to undergo a mentoring process with Buscapé Company.
Inscriptions opened on June 4th and will continue until August 30th. Those looking to apply are required to provide information regarding project objectives, business model, market analysis, team organization and, of course, the product or service at hand.
Once inscriptions are closed, the real fun begins, and we’re excited to see what happens. Beta pitches will take place on September 25th, from which Buscapé will choose the projects to move on in the process. The winners will be announced on December 7th.
You think you’ve got a million-dollar idea? Sign up today.