15 startups from 13 countries were selected to present their business projects to a jury made up of representatives of some of Europe’s most important investment funds at Startup Avalanche, a competition organized by Techsylvania in partnership with Risky Business, accelerating fund Cluj.
Spain’s Troop Travel is the winning startup with a solution to streamline and optimize travel costs for business purposes. The winning team is going to Silicon Valley, where it will have the chance to interact with top investors, potential customers and partners.
In this edition, the 15 startups, selected from over 280 applications, have presented their projects with solutions oriented to various industries such as artificial intelligence, drone, HoReCa, agriculture, HR, travel, IoT or medtech. More than 40 investors from the region and the world were present at the event, including the entrepreneurs and investors Calin Fusu, Sergiu Biriş, Voicu Oprean, as well as investment and accelerating funds such as Social Capital (fund over 1.2 billion dollars) Sunstone Capital, Greybella, Buran VC, EQT Ventures, Credo Ventures, Axel Springer or Plug and Play. The event also included the launch of two new startup incubators: TastyBrands.vc, which invests in HoReCa’s innovations and operations and a cybersecurity solution developed by BitDefender.
For startups, Techsylvania Avalanche is not a simple competition. After selecting 15 of over 280 apps, competitors have benefited from remote support to improve their presentation and better organize their investment plan. Thus, the teams were invited to reach Cluj at least one week before the competition to work with Risky Business on their project and to connect to the Romanian business environment. After the competition, their launches and pitches are presented to the relevant people and funds.
“Being a startup at the beginning of the road, automatic access to potential investors is restricted. You have to fight to get in touch with them and generally do not get a real or personalized support. At Techsylvania, our experience was completely different. When you are selected among the 15 startups participating in the competition, you are treated as a VIP. A few weeks before the competition, the Avalanche team is working to get you in touch with the top entrepreneurs in your field so you can work with them at your pitch. That’s why you are advised to come to Cluj a week earlier to collaborate with the Risky Business team that will help you make the most of your presentation.
“Avalanche is not just about bringing some startups on stage to potential investors. It’s about creating a platform for international collaboration between startups, presenting business opportunities and providing support in launching them even at an early stage, “explains Jennifer Austin, co-founder of Risky Business.
This year was by far the most internationalized edition of Avalanche Techsylvania. “In our country, the business environment is much less advanced and there is no such community. We hope to follow the example seen in Cluj, where even competitors meet to collaborate. Working together with the startup founders in Romania, USA, France, Israel, Germany and many other countries, we realized that although we come from different places, we all have the same mentality that defines an entrepreneur, “says Kazakhstan’s IVCbox team.