Yalla is the winning startup of the jury prize at the eleventh edition of the WMF Startup Competition. They will fly to San Francisco to compete in the Startup World Cup Final, aiming to win the grand prize of 1 million dollars in direct investment. The jury prize was made available and presented on the main stage of the WMF by Bill Reichert, Entrepreneur & Venture Capitalist, Partner at Pegasus Tech Ventures.

The final took place in the afternoon of June 16 on the Mainstage of the WMF - We Make Future, held at the Rimini Fiera (Rimini, Italy)  until June 17, in front of a packed audience of participants from over 85 countries. It represented the heart of the World Startup Fest, the international reference event for startups, scaleups, and investors held annually within the context of the WMF, which attracted over 1,300 startups and investors from around the world.

Conducted by Cosmano Lombardo - Founder and CEO of Search On Media Group and creator of the WMF - and Diletta Leotta, the final took place through an intense pitch competition where the six finalists, PlanetWatch, Functional, Cyrkl, Wallife, Yalla, and Flyvbird GmbH, competed with innovative ideas addressing the 12 challenges of the future identified by the WMF. These ideas were developed in alignment with the goals of the UN 2030 Agenda for Sustainable Development and ESG criteria: Future of Cities & Communities, Future of Health, Future of Work, Future of Culture & Travel, Future of Food & Agriculture, Future of Learning & Education, Future of Retail & Customer Experience, Future of Marketing, Future of Media & Entertainment, Future of Sports & Events, Future of Finance & Insurance, and Future of Life on Planet Earth.

“Once again this year, the Startup Competition showcased innovative projects capable of making a positive impact on global society. We are delighted because this selection approach through the 12 Challenges of the Future, characteristic of the WMF Startup Competition, is highlighting how innovative entrepreneurship can be a catalyst for change and the construction of a better future," explained Cosmano Lombardo, Founder and CEO of Search On Media Group and creator of WMF. "More than ever this year, the submissions have come from all around the world, testifying to the fact that innovative entrepreneurship, genius, and creativity in service of global society are universal values”

In addition to Yalla, the Egyptian startup, awards were also given to the Czech startup Cyrkl, which won the audience award consisting of €160,000 in prizes made available by the competition's partners, and the Italian startup Wallife, which received consultancy services worth €15,000, a prize provided by Search On Media Group, the organising company of the WMF. The Startup Competition jury included Bill Reichert from Pegasus Tech Venture, as well as partners such as Unicredit Startlab, Seraphim Space Ventures, CRIF, Hubspot for Startups, Amazon for Startups, Lventure, P101, United Venture, Euratechnologies, UnipolSAI, Poste Italiane, Wurth Elektronik, Alior Bank, NTT Global, Google, Accenture, Digital Magics, Engineering, GSD Venture Studio, Wayra by Telefonica, and Go Beyond by Sisal.

Yalla wins the jury prize

Yalla is the first super app in the Middle East and North Africa (MENA) designed to meet all daily financial and non-financial needs, providing users with a complete ecosystem. It allows users to send and receive money, make online and offline payments, and place orders for any requirement. It is currently available in Egypt and the United Arab Emirates, with plans to expand to Saudi Arabia and Pakistan in the near future. Thanks to winning the Startup Competition, Yalla will fly to San Francisco to experience the Startup World Cup firsthand and compete for the 1 million dollar investment prize.

Cyrkl wins the audience prize, valued at €160,000, made available by the partners of the Startup Competition

Cyrkl was created with the idea of implementing the principles of the circular economy in businesses, from raw material sourcing to waste reduction and disposal. Cyrkl's mission is to help companies from all sectors improve their sustainability by optimising the management of material flows. Through the development of an international digital marketplace, Cyrkl brings together producers and recyclers without intermediaries. This enables companies to discover the true value of their waste, promoting material circularity and the use of secondary raw materials, effectively creating industrial symbiosis.

Wallife wins the special prize provided by Search On Media Group, the organizer of the WMF

Wallife aims to be the first company to offer insurance solutions for risks arising from technological and scientific innovation. The company operates in three research areas: Genetics (insurance for genetic and biological identity, including products such as insurance for stem cell transplantation or assisted fertilisation), Biometrics (insurance for digital identity theft or credit fraud, with the only policy capable of reimbursing illegally obtained money), and Biohacking (insurance for technology implanted inside the human body).

An international perspective on innovation: on the Mainstage, the ambassadors of Sweden, Algeria, and Latvia, Jan Björklund, Abdelkrim Touahria, and Solvita Āboltiņa

On the Mainstage, Vito Esposito, Head of Global Partnerships at the WMF, introduced the Swedish Ambassador to Italy, Jan Björklund, and the Algerian Ambassador, Abdelkrim Touahria, who were invited to share their vision on innovation and support for young and growing entrepreneurial entities such as startups. Ambassador Jan Björklund strongly emphasised the importance of collaboration between Sweden and Italy and the crucial role played by governments and investors in supporting the innovative drive of businesses and researchers. Ambassador Abdelkrim Touahria also expressed enthusiasm for the contribution of technological innovation, highlighting its vital role in sectors such as health, economy, and energy, and emphasising the close ties with Italy.

During the morning, still on the Mainstage, Solvita Āboltiņa, Ambassador of Latvia, also spoke about the work carried out by her country in supporting innovation in high-value-added industries through a strategy known as smart reindustrialisation.

Innovative entrepreneurship as a key theme of WMF - We Make Future

The theme of innovative entrepreneurship once again takes center stage at WMF 2023 and the World Startup Fest, which in this edition is particularly rich in networking opportunities, B2B meetings, and moments of in-depth discussion and exchange held on numerous stages, including the Startup Stage and the Startup Showcase. In these spaces, thousands of startups from over 85 countries have the opportunity to share their innovative entrepreneurial projects with key actors in the Open Innovation ecosystem, once again confirming the WMF as the perfect meeting place for the industry and a fundamental actor in the creation of an innovative future.