Startup Open, a competition that recognizes startups with high-growth potential, has launched its search for the 50 most promising new startups around the world, to be announced in conjunction with Global Entrepreneurship Week (GEW) 2011. The “GEW 50” will be announced on Oct. 15, with those companies subsequently competing for the top honors and prizes.

Kansas City’s Ewing Marion Kauffman Foundation founded GEW to spur new ideas, ingenuity and firm creation through local, national and global activities in more than 100 countries. Startup Open, now in its second year, is open to entrepreneurs who have a “startup moment” between GEW 2010 and GEW 2011 (Nov. 22, 2010 to Nov. 20, 2011). A startup moment is defined as any action related to launching a new business, such as incorporating a company, officially opening the doors for business, completing a first sale or securing outside funding.

“Economic growth and job creation is directly tied to young businesses with the potential to become part of tomorrow ‘s Fortune 500, so recognizing and rewarding those most promising startups on the path to success may inspire others to follow their examples,” said Carl Schramm (Below, photo from kauffman.org), president and chief executive officer of the Kauffman Foundation.

Startup Open applicants will be judged on concept, growth projections and knowledge of their industry. A handful of companies winning top honors and prizes will be announced on Nov. 14 as GEW 2011 gets underway.

Startup Open 2010 grand prize winner Oliver Ceberio received a trip to Richard Branson‘s Necker Island, where he participated in activities including networking sessions with Branson and other successful entrepreneurs. Last year’s second- and third-place finishers received two days of mentoring at Kauffman Labs for Enterprise Creation. 

Startup Open applicants have until Sept. 15 to submit startup moments. For more information on the 2010 winners and how to enter this year’s competition, visit startupopen.com.