Betmarkets was a finalist at Techsylvania‘s Startup Avalanche 2019, powered by Risky Business Ventures
Back in June, Risky Business invited Betmarkets to attend Startup Avalanche. The competition awards €100,000 in investment and is part of Techsylvania, the largest technology event of Eastern Europe. It welcomed more than 2,000 participants in the previous edition. This year’s edition was even larger, with 3,000 participants flocking into Cluj for a few days!
Large investment funds were present, such as the Vision Fund – owned by SoftBank Group – and Round13 Capital. The founder of the latter, Bruce Croxon, starred in the Canadian version of Dragon’s Den, a TV show similar to Shark Tank. The venue was the Polyvalent Hall – BT Arena, a multi-purpose arena that regularly hosts sport competitions.
16 startups competed for the grand prize, from the +500 applications from all over Europe. They were divided in two groups for the initial stage. From these, the jury picked 8 to compete in the final, pitching in the main stage in front of over 1,000 people. Betmarkets was one of the latter! Nevertheless, we knew that we barely had any chances of winning the final since we are working in a sector in which some investors can not participate. And this was the case of part of the jury that was putting the money towards the prize.
Jennifer Austin, partner at Risky Business, commented about us: “When we interviewed Betmarkets we were very excited. Having collaborated on a corporate innovation program with one of the major international betting companies, we immediately saw the potential. Betmarkets pitch and business are amazing. The grand prize was decided by the angel investors who put in the money, two of which were very excited by Betmarkets. But betting isn’t for everyone. I’m very happy, though, that Betmarkets received a few investment offers from investors who are knowledgeable about the company’s sector. It’s such a high potential business with a powerful team.”
Some startups in Startup Avalanche
The competition was one of a high calibre, with startups proposing a healthier alternative to the meat we consume (Better Nature from the UK), new materials that enable the conversion of industrial waste heat into electricity (Poligy from Germany) or a complete disruption of maritime shipping through smart containers (Aeler from Switzerland). Therefore, Betmarkets is incredibly happy that it was in the finals with all these startups and would also like to congratulate the winner: PatchAI, an italian startup which developed an AI-enabled chatbot to support patients enrolled in clinical trials took the grand prize.
From this event we bring home a significant learning experience, recognition from international investors and a great network of fellow startups. We are looking forward to see their development!
The video of our pitch in the preliminary round is now available. From here, Betmarkets went on to become one of the finalists and pitched on the main stage! We hope you enjoy and any feedback is more than welcome!