WASHINGTON and BUCHAREST, Romania, Feb. 11, 2013 /PRNewswire-USNewswire/ -- Catalyst Group CEO Michael Koch kicked off the Georgetown Business Strategy Challenge this week, leading a keynote on the challenges and opportunities of global outsourcing.
"The power of effective global outsourcing has yet to be fully understood," Koch noted. "Adding world class technology talent to an emerging venture, and helping it leapfrog from a good idea into execution, is exactly what we do. It is the single biggest difference between success and failure."
Georgetown's Business Strategy Challenge welcomed eighty entrepreneurially-minded students from around the world to compete. Finalists were announced after the preliminary round from Bucharest, where Koch joined remotely and congratulated all participants on their commitment to achieving results.
Georgetown's Walsh School of Foreign Service Junior Hilary Evans said she was "amazed to learn ... how much more can be achieved by entrepreneurs who systematically develop their tech teams." Many students at the competition, she noted "would love to build their own businesses. Every year the BSC team looks for sponsor companies that both appeal to our competition's innovative spirit and could potentially help our competitors in the development of their careers. These students are ambitious and entrepreneurial, and the Digital Catalyst Fund represents a unique way for them grow their own businesses."
The Digital Catalyst Fund summer boot camp welcomes student entrepreneurs to develop their business and build a working prototype over their summer- all expenses paid.
Entrepreneurs receive $30,000 in technical talent, a cash stipend, and living expenses, a package worth $50,000.
Student entrepreneurs who are passionate about building their ventures while still in college are encouraged to apply. Student entrepreneurs who are selected will be fully accommodated in a renovated mansion - including a live-in chef - in Bucharest from early June to mid-August 2013.
Applications to the boot camp will be accepted on a rolling basis. Decisions will be announced by late March. Approximately ten teams will be selected in all.
The Digital Catalyst Fund is a Bucharest-based venture capital fund focusing on new media technologies. The Fund makes early stage investment and also supports the summer boot camp for student entrepreneurs. For more details and to apply, visit the Digital Catalyst Fund website, www.digitalcatalystfund.com. Follow us on twitter, @catalystceo
SOURCE Digital Catalyst Fund