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Musikki is the winner of the major Portuguese Venture Competition


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- Start-up awarded with the 200.000 Euros in financial support;
- The founders will now have the opportunity to double the financial support through the execution of the business plan;
- Announcement of ISCTE-IUL MIT Portugal Venture Competition 3rd edition.

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Musikki is the winner of the major Portuguese Venture Competition

  1. 1. Results of the ISCTE-IUL MIT Portugal Venture Competition Grand FinaleMusikki is the winner of the major Portuguese Venture Competition  Start-up awarded with the 200.000 Euros in financial support  The founders will now have the opportunity to double the financial support through the execution of the business plan.  Announcement of ISCTE-IUL MIT Portugal Venture CompetitionLisbon, February 28th 2012- Musikki wins the 2nd edition of ICTE-IUL MIT Portugal Venture Competition. Thespecialized motor search founded by João Afonso, Juliana Teixeira e Pedro Almeida, provides users with all theinformation related to an artist/band, and all is just a click away. The competition is promoted by ISCTE – UniversityInstitute of Lisbon- and Caixa Capital, in partnership with MIT-Portugal and MIT entities - Deshpande Center forTechnological Innovation and the Sloan Business School.The winner was announced at today’ at a ceremony held at ISCTE-IUL by Walter Palma, Managing Director CaixaEmpreender+ Fund, representing the Caixa Geral de Depósitos Group. The Grand Finale also counted with theparticipation of Carlos Nuno Oliveira, Deputy Minister for Entrepreneurship, Innovation and Competitiveness atPortuguese Government; and Graça Fonseca, Deputy Mayor of Lisbon for Economy, Innovation, Modernization andDecentralization. Both representatives were supportive of the competing startups and of this initiative, recognizing it aspart of the strategic plan for the development of the entrepreneurship in Portugal.Musikki will benefit from an extra financial support of 100.00 euros in addition to the previous award received lastSeptember, when it was selected as finalist at “Other services and Products” track. This amount can be doubled duringthe next 3 to 5 years, according to the agreed milestones. The promoters of the winning team will also have theopportunity to pitch for a restricted international investor groups at one of the main entrepreneurship events at MIT –the Ideastream - at May4th, Cambridge, Massachusetts.The four finalist start-ups already received 400.000 euros, destined to the implementation of “Go to Market” strategiesdeveloped in collaboration with the organization during the six months of the competition. Furthermore, these teams willbe granted direct access to Caixa Capital - the venture capital partner- to whom they will present and discuss theirprojects in a privilege way .
  2. 2. Besides the financial support of up to 1 million euros from the Caixa Empreender+ Awards of the Venture Competition,the promoters of the four finalist startups received over 500+ hours of training and coaching with seasonedentrepreneurs in Portugal and the US (Catalysts), were provided with opportunities to pitch to Angels and VCs inPortugal and at MIT’s IdeaStream, support by specialized Portuguese and MIIT mentors and catalyst, and furthersupport at incubators in Portugal (Startup Lisboa) and at the US (Cambridge Innovation Center e Plug & Play TechCenter).Musikki, together with the other track finalists– MediaOmics, IS Green e All Desk – are, form now onwards, entering anew intensive stage, comprising 1 to 3 years and not more than 5, with a ultimate goal to validate their value proposalswith global clients (B2B) and will be provided with tools to raiser their value at international round of investments(series A and B).The organization hopes that during the first 5 post-award years, the promoters will be able to successful completeinvestment rounds in the order of 2-5 million euros. By this time they will still be in a position to benefit from the optionright of the financial partner Caixa Capital, which can subscribe up to 20% of the added capital value of the companies.The audience was also able to participate and vote through an application developed by Around Knowledge, one of thelast year’s finalists. Musikki was the startup elected by the public.The Ceremony was closed by Gonçalo Amorim, Director of the MPP -IEI, with the commitment to continue thecompetition and the beginning of the 3rd Edition by March 15, 2012. Until May 1st, several information sessions will beoccurring trough out the country and internationally, the calendar for these events will be announced soon atwww.mitportugal-iei.orgThe competition promotes entrepreneurship and innovation in PortugalSo far the 155 start ups submitted their projects to the ISCTE-IUL MIT-Portugal Venture Competition during the pasttwo editions. The applications came from young start-ups, less than five years, that are exclusively dedicate to thedevelopment of international technology based projects, either of products or services. Students, researchers andprofession of any area, Polytechnics institutes, Universities and other public and private institutions, can apply.
  3. 3. For Luís Reto, ISCTE-IULs Dean, “we believe that ISCTE-IUL, Caixa Capital and MIT-Portugal can be pioneers,creating the foundations of an international technological hub in Portugal, from this major entrepreneurship & innovationcompetition, international in scope. Through the first edition in 2010, we validated the model. Since then we met highlyentrepreneurial, qualified people, with the right ambition, as showed by the results attained thus far. In the currentscenario of tough financial and economic constraints that we are facing, this initiative unleashes knowledge-driveninnovation that converts into economic value such as highly qualified jobs, welfare and competitiveness for our nations.We now have the challenge of scaling even more this initiative beyond our horizons that was only possible due to thecombined work of all stakeholders involved”.The competition is part of the ongoing cooperation established in 2010 between the ISCTE- IUL, Caixa Capital and theMIT-Portugal Program, in cooperation with MIT’s Deshpande Center for Technological Innovation and the TrustCenter for MIT EntrepreneurshipFor further information please contact:ISCTE-IUL MIT Portugal Lift ConsultingCatarina Madeira Inês +351 217 903 951 Telefone: +351 91 865 52 06www.mitportugal-iei.orgAbout ISCTE - Instituto Universitário de LisboaISCTE - Lisbon University Institute is an institution of public higher education, established in 1972. ISCTE-IUL develops programs in: Education /Training, Research and Services to the Community.Located in the University Campus of Lisbon, ISCTE-IUL currently offers 15 degrees in three major areas: Management Sciences, Social Sciencesand Technological Sciences.With approximately 8,400 students, 400 faculty and 200 non-teaching staff, ISCTE-IUL is proud of its impact over the past 40 years. The institutespriorities are innovation, quality and diversity, both in education and in academic research.With great recognition in the labor market, ISCTE-IUL has a high rate of employability of its graduates, in some areas reaching 100% results. Thisconfirms not only the prestige of the institution as the quality of their teaching.
  4. 4. About MIT Portugal ProgramThe MIT Portugal Program (MPP) is a large-scale international collaboration involving MIT and the Portuguese Ministry of Science, Technologyand Higher Education, and aims strengthen the knowledge base of Portugal’s national and international competitiveness through strategicinvestment in people, knowledge and ideas.The program is a high-profile effort to demonstrate that investment in science, technology and higher education can have a positive and lastingimpact on the economy, addressing major social issues through quality education and research in the emerging field of systems engineering.MPP uses as a basis systems engineering, integrated management sciences, economics and politics in order to better understand, design andimplement the complexity of technology-based systems on which society is increasingly dependent. The particular focus of the MIT PortugalProgram is systems thinking and the emerging field of engineering systems. We believe an understanding of systems thinking to be fundamentalto the future of scientific and technological education and practice.MPP is supported by a national initiative that involves seven Portuguese universities and 14 research centers that target sustainable energysystems, transportation systems, bioengineering and advanced production methods as key areas for economic development.About Caixa CapitalCaixa Capital is the Venture Capital and Private Equity arm of Caixa Geral de Depósitos, the state owned and largest Portuguese bankinggroup, with a strong tradition in the country’s financial system and a solid financial performance, stemming from its €120B in assets and presenceover 20 countries.The close relationship with all market players in Portugal is evidence of its strong commitment to quality in services provided and innovation,within a successful model of corporate governance. Caixa Capital benefits from the synergies emerging from CGD and is the VC industry leaderwith a portfolio of €660M and 75 companies.With a generalist investment policy, it covers a broad array of sectors, across early stage, organic and M&A growth, and internationalizationinitiatives, through a variety of financing structures, including Mezzanine and Renewable Energy Funds. As a Fund of Funds, it is present in areassuch as Tech Transfer Accelerators, Business Angels, Side Cars and Corporate Venturing.O Centro Deshpande desempenha a sua missão através das seguintes abordagens: Programa de bolsas, Programa catalisadores e de Inovaçãode Equipas e outros Eventos relacionados. Desde o lançamento em 2002, foram analisadas mais de 500 propostas de mais de 250 professores;Financiados mais de 80 projectos com mais de USD $10 milhões em bolsas; Apoiados mais de 200 Docentes e seus alunos; Angariados mais de100 voluntários de empresas e da comunidade empresarial; Participou na criação de 12 empresas (1 licenciamento de tecnologia), capitalizadasem mais de USD $80 milhões empregando mais de 200 colaboradores