startup got selected to exhibit in web summit (zero funding), company doesn't have the fund to cover the expenses
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Except for a few special cases, sponsorship for a Schengen visa is no clear-cut legal category.
- They want to know the reason for your trip.
- They want to know your financial circumstances. Always, even if you cannot afford the trip on your own. Being on a cash basis is usually seen as a bad sign.
- They want to know who pays and why. Always, even if you can afford the trip on your own. As I understand it, the company pays for the trip and all expenses, so your parents would at best provide emergency funds for you if there are unexpected expenses.
They will always look at income and expenditure, not just the bank balance. That is why they want multiple statements or payslips from you.
You are traveling for business reasons, and saying anything else in the application would be stupid. It would make it look as if you are hiding something.
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