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Ukrainian Startup Fund to finance 5 startups for $125,000 according to results of 29 Pitch Day
KYIV. Aug 27 (Interfax-Ukraine) – The Supervisory Board of the Ukrainian Startup Fund (USF), based on the results of 29 Pitch Day, has identified five startups that will receive grants totaling $125,000, the fund’s press service said on Friday.
Teams of 12 projects took part in the pitching.
Following the meeting of the fund’s supervisory board, it was decided to finance five of them at the pre-seed stage (they will receive a grant of $25,000):
– The Great Catalog (Kyiv) – a marketplace for 3D models for designers and architects;
– Real Talk Sport (Kyiv) – CRM web system for the administration of martial arts competitions and the activities of sports federations;
– Elai (Kyiv) – a web service that allows using artificial intelligence to quickly generate video presentations with a person in a frame from text;
– Magbulb (Lviv) – the world’s first magnetic adapter for replacing bulbs, which consists of two parts (the first part is attached to the lamp with a magnet, and the second to the socket);
– IDvizer (Kyiv) – an AI-based identity verification mechanism (built-in security tool that is developed for an individual business model).
The press service reminded that projects are assessed according to a number of criteria, namely: team, market, appropriateness of financing, idea and development strategy.
Ukrainian Startup Fund is a state fund created on the initiative of the Cabinet of Ministers. Its purpose is to provide financing to technology companies in the early stages of development (pre-seed and seed).
