Ukrainian startups have a chance to receive $1 million in investment by participating in the regional stage of the Startup World Cup international competition. The winner will represent Ukraine at the global finals in San Francisco.
Startup competition
Start of the Ukrainian stage
EIT Community RIS Hub in Ukraine and Sigma Software Labs, with the assistance of the Ministry of Digital Transformation, announced the start of the Ukrainian stage of the Startup World Cup competition. The winner of the national selection will be able to participate in the international Grand Final, which will be held in San Francisco in October 2024, where the main prize is an investment of $1 million.
Competition structure
STARTUP WORLD CUP 2024: UKRAINE is divided into two directions. The first is a fast track for Established Startups, which allows you to apply directly to the finals of the Ukrainian stage. The second is a track for Rising Stars, which will take place as part of the UNICORN acceleration program. Participants in this track will have the opportunity to receive mentoring support from UNICORN and test their idea in front of technical specialists and startup development experts.
UNICORN Acceleration Program
The UNICORN program has been operating for 8 years, during which time 980 projects and 2,200 startups have passed through it. This year, the program is conducted by the EIT Community RIS Hub in Ukraine and Sigma Software Labs with the support of ecosystem partners - SID Venture Partners and Sigma Software University. AIN.UA is the information partner of the Ukrainian stage of the competition.
Conditions of participation
Startups that are more than 50% owned by Ukrainians and have a representative office in Ukraine (office, development center or distributed team) are allowed to participate in the Ukrainian stage of the competition.
Fast Track can be used by Established Startups that have already proven themselves. They must meet at least two of the following criteria:
- at least 15 full-time employees;
- raised $5+ million in equity investments;
- $1+ million in annual recurring revenue.
Established Startups can apply directly to the Ukrainian final of the competition, which will be held on September 4, 2024. Applications for the fast track will be accepted until August 15.
The second track is for Rising Stars startups who will benefit from working with mentors and trial presentations at crash tests within the UNICORN program. Leaders of the Ukrainian technological ecosystem, venture capital companies and successful startups will be among the mentors and crash test jury. Applications from Rising Stars are accepted until August 11.
Selection stages
The jury will consider all submitted applications and determine 10 teams that will be able to participate in the finals on the fast track, and 10 teams admitted to the UNICORN track.
On August 28, participants of the UNICORN program will compete at the UNICORN Demo Day for the right to participate in the Ukrainian finals, as well as for monetary rewards. Finalists from both tracks will meet on September 4, 2024 at the Ukrainian final, which will be held offline simultaneously in two cities - Kyiv and Warsaw.
Grand final in San Francisco
The winner of the regional stage will represent Ukraine on the Startup World Cup stage on October 2 and 4 in San Francisco, which will compete for an investment of $1 million. SID Venture Partners, a partner of the competition, covers the expenses of the winners' tickets and accommodation for the trip to the Startup World Cup. In addition to the main prize, the participants of the grand final will have the opportunity to win other valuable prizes from the partners of the event.
How to apply
Startup World Cup organizers invite Ukrainian startups to declare their project and compete for prizes:
Glossary
- EIT Community RIS Hub - an organization created to support Ukrainian entrepreneurs, scientists and innovators
- Sigma Software Labs - the investment wing of the company Sigma Software Group, which is included in the TOP 100 Global IT Outsourcing
- Startup World Cup - a series of conferences and competitions for startups organized by Pegasus Tech Ventures
- UNICORN - an acceleration program for startups that has been in existence for 8 years
- AIN.UA - a media partner of the Ukrainian stage of the Startup World Cup competition
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Answers to questions
What is Startup World Cup and what opportunity does it provide to Ukrainian startups?
What are the tracks for participation in the Ukrainian stage of the Startup World Cup and who are they suitable for?
What are the selection criteria for participation in the Ukrainian stage of the Startup World Cup?
What are the key dates of the Ukrainian stage of the Startup World Cup?
What additional advantages will the participants of the Ukrainian stage of the Startup World Cup receive?
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Discussion of the topic – Chance for $1 million: Ukraine joins Startup World Cup 2024
The Ukrainian stage of the global competition Startup World Cup 2024 has started, offering local startups a path to the global finals in San Francisco and the opportunity to win $1 million in investment.
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Oleksandr
Wow, this is an incredible opportunity for Ukrainian startups! 🚀 A million dollar investment is something that can radically change the fate of any project. I wonder what innovative ideas we will see this year?
Maria
Yes, Oleksandr! This is a really great chance. I was particularly interested in the UNICORN program. 980 projects in 8 years is impressive. I wonder which of them have become successful? 🤔
Taras
I agree with you both! But I'm more interested in how this will affect our startup ecosystem as a whole. Maybe it will help attract more investors to Ukraine? 💼
Sophie
Taras, you are right! This can be a great boost for the entire ecosystem. By the way, does anyone know which industries most often win such contests? 🏆
Maksym
Well, another such contest. How many such loud promises have there been, and the result? You will only spend time on preparation, and in the end it will turn out that everything has been decided long ago. It would be better to invest this money directly in the development of technologies.
Olena
Maksym, I understand your skepticism, but I think it's worth a try! 💪 Even if you don't win the main prize, participation in such a competition is an invaluable experience and an opportunity to express yourself. Sophie, in terms of industries - AI and CleanTech seem to be quite popular lately.
Andriy
Friends, has anyone already participated in similar contests? It would be interesting to hear first-hand about the experience. Personally, I am attracted by the opportunity to get feedback from experts and meet other startups. Networking is half the battle, right? 🤝
Maria
Andriy, absolutely agree about networking! 🌟 And I'm also glad that there is a separate track for Rising Stars. This gives even small projects a chance. Who knows, maybe there is a future unicorn among them? 😉