In a milestone moment for Cyprus’s burgeoning startup ecosystem, the inaugural edition of the Startup World Cup is set to debut in the Mediterranean island nation this year.
In a milestone moment for Cyprus’s burgeoning startup ecosystem, the inaugural edition of the Startup World Cup is set to debut in the Mediterranean island nation this year. With the application phase for startups officially commencing on March 25, aspiring entrepreneurs have until May 12 to throw their hat into the ring for a chance to participate in this prestigious global pitch competition.
Organized by Aivitam Ventures in collaboration with Pegasus Tech Ventures, the Startup World Cup is hailed as the world’s most prestigious pitch competition, welcoming startups from all stages, technologies, and industries. Notably, the application process is free of charge, emphasizing inclusivity and accessibility for aspiring entrepreneurs.
The Startup World Cup is not merely a competition; it’s a convergence of innovation, capital, and expertise. Spanning over 50 regions worldwide, the event serves as a nexus for top startups, venture capitalists, entrepreneurs, and tech leaders to connect, collaborate, and catalyze groundbreaking ideas into reality.
This year, Cyprus takes the center stage as the host for the regional finals, where over 100 startups from diverse domains and stages will vie for the coveted opportunity to pitch their ideas in front of prominent investors and secure a $10,000 prize. However, the ultimate prize awaits the regional winner, who will earn a ticket to the San Francisco Grand Finale on October 2-4, 2024, with a chance to clinch a staggering $1 million investment prize from Pegasus Tech Ventures.
Participation in the Startup World Cup requires a tangible connection to Cyprus, ensuring that the event fosters local talent and amplifies the island’s startup ecosystem on a global scale. Additionally, this year sees an open invitation extended to startups from Ukraine, further enriching the diversity and dynamism of the competition.
The application process is streamlined, comprising a series of steps culminating in an offline pitching contest with an independent jury. Following registration and submission of pitch decks by May 12, applicants gain access to a networking app to schedule meetings with mentors, angels, and VC funds. Subsequently, VC funds analytics evaluate nominees’ profiles, selecting the top 15 to proceed to the final pitching event on May 28 during the Future of AI Summit in Limassol.
The significance of the Startup World Cup extends beyond monetary prizes; it serves as a launchpad for startups to garner global attention, forge strategic partnerships, and access unparalleled resources for growth and scale. Dmitry Dosov, GP at Aivitam Ventures, underscored the event’s transformative potential for Cyprus’s startup ecosystem, expressing optimism about the island’s trajectory as a major player on the global stage.
Anis Uzzaman, Founder and CEO of Pegasus Tech Ventures, echoed Dosov’s sentiments, emphasizing the partnership’s commitment to nurturing entrepreneurship and innovation in Cyprus. With each edition, the Startup World Cup expands its reach, connecting diverse innovation ecosystems to Silicon Valley and beyond, and creating invaluable opportunities for startups worldwide.
As the application phase gains momentum, anticipation mounts for the inaugural Startup World Cup in Cyprus, poised to propel the island’s startup ecosystem to new heights and unlock boundless opportunities for aspiring entrepreneurs on the global stage.