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BlueSnap Elance Scholarship Program Frequently Asked Questions


What is the time line for this program?

  • May 11 – Entries Close
  • May 22 – Finalists selected and notified
  • May 23 – June 3 – Finalists prepare 5 minute pitches for Online Virtual Roundtable Meeting with assistance from 1M/1M
  • June 4 and June 7 – Roundtables are held – online, virtual meetings with judging by BlueSnap CEO Hagai Tal, Elance VP of SMB, Ved Sinha and Sramana Mitra of 1M/1M
  • June 4 and June 7 — Winners announced at the end of each Roundtable


Can you tell me more about the BlueSnap Open Commerce system, Elance or about the 1M/1M program?

  • Yes, for more information about BlueSnap go to www.bluesnap.com, for more information about Elance go to www.elance.com, and for more information on the 1M/1M program go to 1M/1M.


Why was this program started?

  • One of the key issues in the entrepreneurial eco-system is this: Over 99% of the entrepreneurs who seek financing get rejected. They seek financing too soon, or with unfundable business ideas. Our mission with this program is to develop the 99% that never do get to that stage – and it’s the BlueSnap mission to be there for companies to be their ecommerce platform – helping them grow their business to get funding – or grow on their own. Elance, the world’s leading platform for online employment, helps businesses hire and manage in the cloud. For businesses looking to staff-up a team on an hourly or project basis, Elance offers instant access to talent and the ability to build and manage entire teams online.


What is the selection criteria and how many will be selected?

  • Up to 20 entrants will be selected to give a 5 minute pitch of their business at the Roundtables which will be held June 4 and June 7. Twelve winners will be selected. The scholarship is open for digital goods ventures only. This includes audio and video content, software, casual games and subscription access to publications and services.


Will I get any assistance in preparing my business plan to pitch at the Roundtable if I am selected as a finalist?

  • You are responsible for submitting your business for consideration by answering the questions on the application. If you are chosen to pitch at the Roundtable – you will get instructions to pull together your five minute pitch. The benefit to you, even if you’re not selected, is you will get an on-the-spot analysis of your project by Sramana Mitra, one of Silicon Valley’s top strategists, with suggestions about how to increase your chances of success. Since this is an online conference, you will gain exposure to potential investors in our audience, and to the live network audience that listens to the event live or later in online recordings. For example, go to http://www.sramanamitra.com/previous-strategy-roundtables-recordings/ to hear recordings of past Roundtables.


If I am selected as the one of the twelve winners, what will I receive?

  • A year of 1M/1M ongoing mentorship during weekly strategy roundtables.
  • Opportunity to study a unique curriculum designed to prevent mistakes, save time and money.
  • Chance to absorb the tribal knowledge of Silicon Valley through Sramana Mitra based on carefully analyzed case studies of hundreds of successful companies.
  • Introductions by Sramana Mitra to potential customers, partners, media, analysts, and investors among her extensive global network.
  • Assistance from BlueSnap experts to help you set up your online website and advise you on how best to do that using BlueSnap Open Commerce platform and expertise.
  • Elance service credits to help you hire and manage online professionals in the cloud.


Entrepreneur Development Scholarship Program