The Eurapp project, funded by the EU Commission, is aimed at improving the region and making things better for app developers to be able to create innovative solutions to the problem of securing funding for application-related startups.
Eurapp focuses on potential job creation, but also explores how best to tackle "bottleneck" issues in the app economy.
"With the increasing adoption of smartphones and social networks, the EU app economy has the potential to create revenue and jobs on a scale similar to that of the United States," Eurapp says. "But major bottlenecks threaten to hold back that growth: a lack of access to funding for developers and a shortage of business skills and experience at app companies that inhibit their scaling up and sustainability."
Two competitions are currently being run. Throughout August, the "innovation challenges" are centered around ways to help startups secure much-needed funding in the European economy. One competition is already in full flow, with €5,000 in prizes on offer. The second is due to launch this week.
The criteria is below for the second challenge:
The challenge requests that Solvers propose actionable solutions (also those proven in other industries) that will address specific obstacles to growth in the EU app economy that include: (1) limited access to funding that affects the ability of startups to scale up and achieve sustainability; as well as (2) difficulties with the scaling-up of app startups due to insufficient business development and marketing skills in small app development companies.
In total, the prize fund is €9,000. However, an additional €15,000 has been set aside to send finalists to a Eurapp event in November, where crowdfunding will be discussed, interviews are due to be held with developers and platform providers, and the EC will explore how it can better help struggling app developers in Europe.
Via: The Next Web
This post was originally published on Smartplanet.com