Today is the start of the StartupReykjavik screening process for Summer 2012 program in Reykjavik, Iceland. It’s the first year we run the program. We got an amazing number of 179 applicants with more then 400 people behind the teams.

We have had many great companies applying so it will be unbelievably hard to pick just ten to go through the program this year. We have had a deep diverse set of companies: from e-commerce to education, Real estate, financial markets to transportation, consumer mobile, Web 2.0. and many more.

We want to pick companies that have the team needed to go the lengths required to make a successful business. We also look into what we can offer the teams through mentorship and the program as well as our own gut feeling of what the top ten investments would look like.

If you were going through the selection process, what would be your criteria? We would love to hear your thoughts on @startuprvk / facebook - you can also tell us your criteria on

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