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The second Seedcamp contest for internet startups came to a close on Friday, with seven winners announced.

These seven startups will each receive 50,000 Euros in return for an equity stake (last year it was 10%). They will also take part in a three month mentoring programme to get them started.

Tech startups across Europe are currently preparing their entries for Seedcamp 2008, the annual contest that offers five or so winners the chance to secure early stage funding and advice from a panel of expert VCs (in return for a chunk of equity).

But any not making it may not have to wait for another twelve months to get their hands on the organisation’s cash.

Seedcamp, the VC-backed project which aims to help foster the next wave of European startups, has said it has received over 260 applications from over 40 countries.

The project, backed by Saul Klein, is running a week long event in London next month, where the five best startups will receive funding of €50,000 to launch their business, in return for a 10% stake.

We recently reported on the launch of Seedcamp, a VC-backed project that will provide a shot in the arm to Europe's technology startups. I caught up with Seedcamp founder Saul Klein to find out more...

Seedcamp is a week long event to help European tech startups which aims to bring together young entrepreneurs with mentors, VCs and other experts.

The team behind Seedcamp includes Saul Klein, venture partner at Index Ventures. Twenty startups will be invited to the event, with the best five teams receiving funding for their ventures.