A new project/competition/fund called" Seedcamp":http://www.seedcamp.com has been launched, targeted at young entrepreneurs in Europe, designed to help tackle some of the challenges of building globally competitive technology businesses.

An intensive week long event to be held in London in September, Seedcamp is targeted at young entrepreneurs from across EMEA and has been set up to provide seed funding, mentoring and networks for startups.

20 teams will take part in the camp and at the end of the week five teams will receive €50K each for a 10% stake.

Seedcampers must have identified a specific developer who has the ability to deliver a prototype. The product or service must make use of the Internet, preferably in a new and exciting way and they must not have raised ‘serious money’ before. The team must be small and be pre-launch but with a prototype already made.

More info at www.seedcamp.com