Get our rare newsletters
Contact GoalEuropeIf you have questions or need a consultation, get in touch.
Last week the organizers of How to Web Conference 2015 in Bucharest announced 32 team that will be competing for $20K in cash prizes and other perks at Startup Spotlight competition. They come from Bulgaria, Croatia, Greece, Hungary, Latvia, Moldavia, Poland, Romania, and Slovakia.
In 5 years Romania-based How to Web Conference became a cornerstone event in the startup ecosystem of South Eastern Europe.
I was interested to find out, which of the 32 startups already had traction or proven track record. George Dita, the startup program manager at How to Web, commented: “Startup Spotlight caters for startups that have raised from 0 to 500k in funding and that have less than 2 years of activity, which allows for a wider spectrum of startups. But in this respect, most of the startups that are joining the program have experienced entrepreneurs at the helm. Each accepted startup has a very strong point that got them accepted. For example, the hardware startups have the prototype of the product and even the finished product (like Scooterson – a smart scooter, and TinTag – a device for tracking lost items) and SAAS businesses are already generating monthly recurring revenue. Startup Spotlight is a lead generation program for deal making. Thus, the biggest chances for landing a deal are when you have a real business behind you.”
I also noticed that the competition features quite a few transportation-related companies: Tourgent from Croatia, and Transit Art from Poland, Tickey and Grajdanite from Bulgaria, SafeDrive from Romania. I found it “suspicious” and asked George to comment: “The startups are selected based on traction, market trend, team fit and experience. The fact that there are several startups that deal with transportation shows the interest in the region and maybe an emerging trend. It is the same with the 9 hardware startups that we have in the finalists. I guess that this is something to look out for if you are an actor involved in the tech startups scene.”
As for the market potential of this year’s participants in Startup Spotlight, George called them the “second wave of startups who have more experience and go beyond the idea stage or a non-validated prototype”. Most of the companies completed an acceleration program prior to applying for the competition, or already raised their seed money. Moreover, most companies already have clients and are focusing on growth and other ways to expand.
9 days are left till How to Web 2015 and Startup Spotlight pitch session, and I’m looking forward to seeing the favorites. See you in Bucharest!
+44 (020) 3290 3544
vita at goaleurope dot com