ARISE Europe Venture Program boosts young startups

ARISE Europe Venture Program
© iStock/ijeab

13 teams of young entrepreneurs have been given the chance to benefit from EIT Digital’s ARISE Europe Venture Program, supporting early stage tech setups in the Balkans.

Each participant was invited to take part in a two-day entrepreneurial bootcamp in June followed by an intensive six-week “acceleration phase”, working with experienced mentors to learn how to grow a startup, pitch a business idea to investors and run product tests with customers. ARISE Europe Venture Program participants have established a legal entity to run their project; and as a result are now entitled to EIT Digital funding of €15,000 per project.

The ARISE Europe Venture Program is administered in Greece and Slovenia by ABC Accelerator and Found.ation, partners of EIT Digital, to applicants from Albania, Bosnia and Herzegovina, Croatia, the former Yugoslav Republic of Macedonia, Greece, Montenegro, Serbia and Slovenia.

Projects selected for the ARISE Europe Venture Program included:

  • Scoop – a food and beverage loyalty scheme based on social media;
  • Eliminatore – a sustainable cleaning solution for aquaculture nets, using algae;
  • EasyDoc.bg – a platform to help patients find a doctor and book an appointment;
  • Kiimo – an “inner city logistics marketplace” which enables people to deliver items on their daily walking route;
  • Paraklito – a tool for religious organisations, to enable followers to bring their faith into their daily life; and
  • Simple Luxuries – a platform which connects tourists with locals in the cities they visit, to provide them with unique local experiences.

Found.ation partner and ARISE Europe Venture Program investor Thanos Kosmidis said: “I am impressed with the maturity of these young startups and entrepreneurs – and particularly with their ability to test early, iterate fast, and push towards their MVP in a very short time.”

The ARISE Europe Venture Program was devised as a way to support deep tech-based ventures in East and Western Balkans, focusing on digitised solutions in cities, industry, wellbeing, infrastructure and finance. Established ventures provide EIT Digital with 7 per cent equity.

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