AMSTERDAM, Netherlands – Entrepreneurs worldwide now have one more way to acquire the financing they need to start or expand their businesses: they can win it, courtesy of the European Ministry of Finance (EMF) Venture Capital Lottery. From now through December 31, 2001, all lifetime members of the EMF who submit their business plans and/or executive summaries will be automatically entered into the Lottery, where they have the chance of winning the grand prize of $1,000,000 cash in a random drawing to be held on January 31, 2002.
In addition to the $1,000,000 grand prize, 79 other monetary prizes, ranging from $100,000 to $1,000, will be awarded in the EMF Venture Capital Lottery drawing. Upon completion of the drawing, the EMF will hold a Super Second Chance drawing; five second-chance winners will each receive a dream vacation with a value of $5,000. Participants are not required to purchase tickets to participate in the Lottery, and EMF lifetime members are free to opt out of the prize drawings. The lottery is backed by corporate sponsorships of $100 to $100,000.
“We have chosen to conduct a random drawing rather than to award the prizes to the best business concepts, because we strongly believe all entrepreneurs should be given the opportunity to achieve success,” explained Joseph Becker, President of the European Ministry of Finance. “By conducting a random drawing, we encourage all entrepreneurs around the world to participate in the lottery, regardless of their businesses’ size, type, or location.”
The EMF Venture Capital Lottery is one way by which money is raised for the EMF Venture Capital Fund, which is used to finance the businesses of lifetime members of the EMF. “We have set the fund’s target at $100 million,” Becker said. “This year alone, the EMF committee hopes to raise $25 million for the fund.”
The EMF offers lifetime memberships beginning at $199, which entitle members to submit their business plans for potential financing options including venture capital, business loans, letters of commitment and parental guarantees against member-friendly, low-interest loan rates. In addition to receiving automatic entry into the EMF Venture Capital Lottery, those who purchase lifetime memberships during 2001 will also receive complimentary three-day, two-night hotel stays in their choice of 20 resort destinations throughout the U.S. and Mexico – including Hawaii, Cancun, and Florida.
About the European Ministry of Finance
Chartered in February 1998, the European Ministry of Finance has over 1,400 affiliates worldwide and is represented in 29 countries. Its United States office is located in Tampa, Florida, with offices in Norway, Saudi Arabia, South Africa and a European Committee office in Amsterdam. Lifetime membership ranges from $199 to $799 and is available to entrepreneurs worldwide. The organization is composed of private and corporate members, investors and business owners. Those interested in learning more about European Ministry of Finance should log on to http://www.euroministry.org.
