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'GEW 50' Named in Startup Open

Mark Marich on October 24, 2011 Source: Policy Dialogue on Entrepreneurship

In the search to find tomorrow’s job creators, Startup Open, a competition that searches for startups with the greatest growth potential, unveiled the “GEW 50”—50 of the world’s most innovative new companies. These elite startups will now vie for a host of prizes to be announced on Nov. 14, timed with the kick-off to Global Entrepreneurship Week.

Hundreds of applications from more than 60 countries were judged on concept, growth projections and knowledge of their industry. The search, which began in March 2011, sought to identify new ventures that have a “startup moment” between GEW 2010 and GEW 2011 (11/22/10 to 11/20/11). A startup moment is defined as any event related to launching a new business, such as securing outside funding or officially opening the doors for business.

“Millions of new firms are started each year, but only a select few ever achieve the size and scale that drive real, lasting economic growth,” said Jonathan Ortmans, president of Global Entrepreneurship Week. “We hope these startups will inspire others who participate in GEW in November to consider taking the next step to bring their ideas to life in the form of a startup."

Aiming for Top Prize

The GEW 50 now have a chance to win several prizes, including an all-expenses-paid trip and VIP delegate credentials to participate in Liverpool’s Global Entrepreneurship Congress in March 2012. The Startup Open winning founder(s) will showcase the company’s business plan on a global scale, gain valuable insight from successful and experienced entrepreneurs and network with world leaders, economists and other experts.

A second Startup Open winner will receive one year of mentoring from Redbox founding members and serial entrepreneurs Michael DeLazzer and Biju Kulathaka, courtesy of the Entrepreneurs’ Organization (EO). The program will include a trip to DeLazzer’s home in Marco Island, Fla., where the winner’s business plan will be scrutinized and market opportunities will be identified. Redbox is the second largest video rental company in the world, with more than 35,000 locations in the U.S. and revenues exceeding $1 billion.

The list of GEW 50 companies that have been deemed to have the greatest chance of growing into game-changing firms that will move markets and create jobs is available at the Startup Open website.

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