Startup Innovation Challenge in response to the coronavirus
The EBRD has financed and advised high-potential start-ups in its countries of operation through various advisory and investment vehicles including Star Venture Programme, Early-Stage Innovation Facility, and Venture Capital Investment Programme.
Building on its experience and know-how in the start-up space, the EBRD launched its first online competition for high-potential start-ups that have innovated their business models in response to the coronavirus. Innovative early-stage enterprises that have the technology and the potential to scale were eligble for the following offer:
A total of USD 500,000 of mixed cash rewards and vouchers for 5 selected startups to cover the costs within the framework of the Star Venture programme including business diagnostics, tailored one-on-one technical advisory, mentoring, access to international investors, etc. To learn more about Star Venture's services, please refer to the videos/articles under Star Venture News here
Top 5 Winners
• Otsimo (Turkey) - EdTech
• Fazla Gıda (Turkey) - Technology | Food
• 1Trolley (Egypt) - E-commerce
• Plant an App (Romania) - IT | Low-Code
• EMBIO Diagnostics (Cyprus) - Biotechnology
Eligible companies for partial support
The Start-up Innovation Challenge was supported with donor funds from the Republic of Korea, and in Egypt by the EBRD’s Small Business Impact Fund (Italy, Japan, Korea, Luxembourg, Norway, Sweden, Switzerland, Taipei China and the United States).