14 Days Left to Apply for Seed Funding and Support; the Openfund Extends Offer to European Entrepreneurs on Software, Web or Mobile

ATHENS, Greece, November 17, 2010 - The Openfund (theopenfund.com), the Leading SE Europe Seed Fund is
receiving applications until November 30th, closing date of its Call for
Proposals for innovative technology ideas looking for funding and support.

Applications are now accepted at: theopenfund.com/apply/idea

The Openfund, the leading high-tech, seed capital fund in South-eastern
Europe, invites entrepreneurs to form teams of 2-4 to submit their idea on
the online application. Submissions should be in the software, web and mobile
verticals, be global in scope and highly innovative. Up to eight teams will
be selected to receive 30-50k Euro of funding along with extended mentoring,
networking and support in exchange for 15% of equity.

Entering its second year of operations, the Openfund has already provided
funding and support to five start-up companies across Europe, ranging from
Nicosia to Glasgow and Sofia to Kiev. Products successfully deployed include
a social media analytics service, a fashion discovery platform and a
similarity search engine for stock images, next to other services leveraging
web and mobile platforms.

"The honour of being mentioned by the Greek Prime Minister as an example
of innovation and growth for the region, in the context of his keynote speech
at the International Thessaloniki Forum, is indicative of the growth we
target and the impact we intend the Openfund to have on the local
entrepreneurial ecosystem," said George Tziralis, Executive Director. "We are
pleased to inform that this call for proposals is accompanied by improved
terms for aspiring entrepreneurs. The amount of funding offered has almost
doubled to EUR30.000-50.000 for the same equity stake of 15%. An extended
board of advisors and accumulated experience further increases the added
value we deliver to selected entrepreneurs."

About The Openfund

The Openfund aims to bridge the gap between aspiring entrepreneurs and
inventors and early-stage investment capital required to bring their ideas to
life. Its founding members bring world class expertise in setting up
successful technology businesses. Beyond seed-stage funding, the Openfund
also provides entrepreneurs with assistance in all aspects of setting up
their businesses, including technology and product development, business
development and sales, marketing and legal support, among others. For more
information about the Openfund, visit: theopenfund.com.

Note to Editors:

A press kit is available at theopenfund.com/resources

Media Contacts:

Georgios Kasselakis (gk@theopenfund.com, +30-697-3784107)

George Tziralis (gt@theopenfund.com, +30-693-7122065)

Media Contacts: Georgios Kasselakis (gk at theopenfund.com, +30-697-3784107); George Tziralis (gt at theopenfund.com, +30-693-7122065)