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$1 million up for grabs: Startup World Cup kicks off in Ukraine
EIT Community RIS Hub in Ukraine and Sigma Software Labs, backed by the Ministry of Digital Transformation of Ukraine, have launched the Ukrainian leg of the Startup World Cup competition. The regional winner will advance to the global Grand Finale in San Francisco in October 2024, vying for a $1,000,000 investment prize.
STARTUP WORLD CUP 2024: UKRAINE features two distinct tracks. The Fast Track for Established Startups offers a direct application route to the final stage of the Ukrainian competition. Meanwhile, the Rising Stars track is integrated with the UNICORN acceleration programme, allowing participants to engage in mentorship sessions with UNICORN experts and test their ideas with technical specialists and startup development professionals.
The UNICORN acceleration programme, which has been active for eight years, has supported nearly 1,000 projects and over 2,200 startup founders. This year, the programme is being facilitated by EIT Community RIS Hub in Ukraine and Sigma Software Labs, with the support of SID Venture Partners and Sigma Software University.
Details on participating in STARTUP WORLD CUP 2024: UKRAINE
The Ukrainian stage of the competition is open to startups with more than 50% of their shares owned by Ukrainians and having a representative office in Ukraine (office, development centre, or distributed team).
Established Startups that have already made a name for themselves can use the fast track. They must meet at least two of these criteria:
- at least 15 full-time employees
- $5+ million raised in equity investments
- $1+ million ARR
Established Startups can apply directly to the Ukrainian competition's final, which will take place on September 4, 2024. Applications for the fast track are accepted until August 15.
The second track is for Rising Stars startups, which will benefit from working with mentors and trial pitches at crash tests under the UNICORN programme. The mentors and crash test jury will include leaders of the Ukrainian tech ecosystem, venture capital companies, and successful startups. Applications from Rising Stars are accepted until July 28.
The jury will review all applications and determine 10 teams that can participate in the fast-track finals and 10 teams admitted to the UNICORN program.
On August 28, the UNICORN programme participants will compete at the UNICORN Demo Day for the right to participate in the Ukrainian final and for cash prizes. The finalists from both tracks will meet on September 4, 2024, at the Ukrainian final, which will be held offline in two cities simultaneously – Kyiv and Warsaw.
The winner of the regional stage will represent Ukraine on the stage of the Startup World Cup on October 2 and 4 in San Francisco, where they will compete for $1 million in investments. SID Venture Partners will cover the winners' ticket expenses and accommodation for the trip to the Startup World Cup. In addition to the grand prize, participants in the grand final will have the opportunity to win other valuable prizes from the event's partners.