eBay StartUp Cup Challenge Launches in Four Global Cities

eBay News Team

Mentors from eBay will work with entrepreneurs, creating opportunities and supporting innovation.

eBay Foundation and GriffinWorx have launched the 2017 eBay StartUp Cup Challenge, a business model competition in four cities helping early stage entrepreneurs with any type of business idea to design, test and build a viable business. Through a competitive selection process over several months, the eBay StartUp Cup Challenges will culminate in awards celebrations providing a total of $70,000 in cash prizes.

Aspiring entrepreneurs, startups and existing businesses in Berlin, Brooklyn, Mumbai and Washington, D.C. looking to launch a new startup or take an existing concept to the next level are encouraged to submit their business models at www.ebay.startupcup.com. Submissions will be evaluated on the merits of their business model.

The challenges will begin with an intensive 48-hour Extreme Build-A-Business Weekend, with the top 25 entrepreneurs in each city moving into an acceleration program where they will compete with each other. Competing businesses will receive additional no-cost support including tailored coaching and mentoring. Notably, eBay employees with relevant experience will mentor qualifying teams and help them to advance their entrepreneurial ideas.

“eBay believes strongly that all entrepreneurs should have the opportunity to succeed, and many of the resources and people we have at our company can make a profound difference in an entrepreneur’s life,” said Amy Millington, President of eBay Foundation. “Through the StartUp Cup Challenge we can help innovative ideas grow into viable businesses that create jobs and benefit entire communities. This program gives us an opportunity to meet our commitment to helping anyone, regardless of background or circumstance, realize their dreams of building a business.”

The eBay StartUp Cup Challenge is being organized by GriffinWorx, one of the largest business building organizations in the world. GriffinWorx has lead business acceleration programs in over 60 countries, focusing primarily on underserved areas and populations. GriffinWorx and eBay Foundation share a common goal to close the opportunity gap for entrepreneurs and make entrepreneurial support systems work better across diverse populations. Additional supporting partners include TiE Mumbai in India and Enpact in Berlin.

“GriffinWorx is enthusiastic to partner with the eBay Foundation and launch the 2017 eBay StartUp Cup, supporting the creation of new jobs and new businesses in Berlin, Brooklyn, Mumbai and Washington D.C.,” said, Sean Griffin, CEO and Founder of GriffinWorx. “With the collective goal of bringing down the barriers required to build a business, eBay StartUp Cup allows anyone, from any background or education level to access the tools, resources and connections.  Entrepreneurs will be equipped with the support to design, test and build a sustainable business of any kind. We look forward to igniting the human potential of the business builders who will compete in this year’s global Challenge.”

By reducing barriers for entrepreneurship, we can encourage innovation and more inclusive growth in communities everywhere. Look for more news to come from eBay Foundation and GriffinWorx, as the StartUp Cup Challenge develops. To find more details about the program and a complete schedule for the Challenge, please visit www.ebay.startupcup.com.