With venture totals decreasing year-over-year in key markets like the United States, and concern that venture firms themselves are struggling to secure more capital, founders might be anxious. After all, if private-market investment doesn’t improve in the coming quarters, we could be headed for yet another year of declines in total startup investment in 2024.

Some startups are endeavoring to address the slowdown, including Intently, which is introducing a new service this week called Founder AI. The service’s premise is straightforward: It will examine your personal data, comprehend your connections, categorize those connections based on their own background in terms of what they have developed, and formulate a few suggested paths to facilitate warm introductions to investors from your existing founder network.

The objective is to pinpoint the best approaches to reach the most relevant investors, recognizing that most individuals won’t readily make introductions for you. That’s why it's crucial to ensure you are targeting potential investors who may prove beneficial.

Beneath the surface, the service is somewhat more intricate; to the extent that Intently CEO and co-founder Slava Solonitsyn informed TechCrunch that his team initially developed Founder AI. as a services business to gain a deep understanding of what founders possess, require, and desire, only later transforming that into a product with the assistance of AI.

It's not just AI magic, though. The new service from the Intently team utilizes vector search to discern relevance, which, to my understanding of vectors — admittedly only lukewarm — seems logical. However, it refrains from attempting to vectorize everything. During the development phase, Solonitsyn and fellow co-founders Dmitry Starodubtsev and Mika Melchanka had to narrow their focus to ensure they were utilizing the vectors that truly mattered, as incorporating all possible data points would be excessively costly.

The company highlighted that it has secured only single-digit millions in funding to date, including a $3.3 million round last spring. The startup aims to secure additional capital, potentially in the range of $5 million to $10 million. Naturally, the success of Founder AI in the hands of founders will play a crucial role in determining how much capital Intently can attract.

However, fundraising isn’t the ultimate goal of its efforts. Instead, the startup intends to expand its technology into new areas over time, such as business development. Given the size of the market for sales tools, this isn’t an entirely surprising idea. Nonetheless, having software that can intelligently analyze your connections and assist you in making communication decisions could genuinely help reduce overall digital communication by preventing wasteful messages. That would benefit everyone involved.

Intently, a Y Combinator-backed company, may witness early adoption of Founder AI among its peers in the accelerator program. We'll be closely monitoring whether its new service becomes a sought-after tool for founders — and whether they're willing to pay for it. Intently plans to charge $99 per month for the tool, with additional fees if the customer desires access to more data sources for their connection-hunting endeavors. This pricing model seems fair; the more data a customer seeks to leverage, the higher the computational costs, hence the higher the price. All in all, if Intently's product proves effective, we may witness an uptick in overall venture activity in the market, right? Talk about a smart utilization of AI from a startup standpoint.

Belgian VC Imec.xpand Launches €300 Million Fund for Semiconductor and Nanotechnology Innovation

imec.xpand, headquartered in Leuven, has unveiled a fresh €300 million fund dedicated to accelerating transformative advancements in semiconductor and nanotechnology. Developed in partnership with imec, a renowned R&D and innovation hub in nanoelectronics, the fund aims to support startups poised to revolutionize global industries within their specialized fields. With a strategic focus on pushing semiconductor innovation beyond conventional boundaries, the fund aims to propel forward the next generation of technologies, a decade ahead of their time.

Operating globally across all developmental stages, Imec.xpand acts as a bridge between semiconductor and nanotechnology innovations and market-ready solutions. Leveraging imec's expertise, the fund targets breakthrough technologies spanning artificial intelligence (AI), machine learning (ML), augmented reality/virtual reality (AR/VR), and photonics. In the realm of life sciences, Imec.xpand seeks opportunities to advance areas such as cell therapy, sequencing, neuromodulation, and other medical diagnostics and treatments.

Tom Vanhoutte, partner at Imec.xpand, emphasizes that the fund's mission extends beyond mere funding—it's about nurturing companies capable of leading the next wave of technological evolution. Imec.xpand is committed to driving the semiconductor industry forward by empowering startups to accelerate the introduction of innovative technologies to the market. Through a blend of venture capital and a global network, Imec.xpand aims to foster the growth of unicorns amidst the ongoing global competition for semiconductor dominance.

Since its inception in 2017, the Imec.xpand fund has garnered strong support from imec and a loyal base of international financial and strategic investors. With a track record of investing in groundbreaking companies, Imec.xpand holds a unique position within the global venture capital landscape, facilitating potential co-investment opportunities for its portfolio companies, particularly in the U.S. The endorsement from Imec.xpand often serves as a financial catalyst, enabling startups to secure additional funding from other investors. To date, Imec.xpand has invested in 23 companies, collectively raising nearly EUR 1.5 billion in financing, including two unicorns.

Imec.xpand's portfolio companies are at the forefront of developing cutting-edge, differentiating technologies, affording them a significant global competitive edge in their respective markets. Notable entities within the Imec.xpand portfolio include Celestial AI, headquartered in Palo Alto, which recently secured $175 million to advance its optical compute and memory fabric solution for AI infrastructure; PsiQuantum, a frontrunner in the quest to develop the first practical quantum computer; and Swave Photonics, pioneering a unique holographic extended reality chip technology poised to disrupt 3D holographic imaging and spatial computing.

With its distinctive blend of independent management, global outreach, semiconductor focus, and substantial imec support, Imec.xpand stands out among venture capital initiatives, poised to drive significant advancements in semiconductor and nanotechnology innovation.

Global venture capital funding amounted to just over $22 billion in April 2024 — remaining steady month over month and experiencing a slight increase year over year, according to data from Crunchbase.

Despite the surge in AI technology sweeping through startups in recent years, the pace of venture funding has persisted at a sluggish rate.

Out of the $22 billion invested in startups globally last month, approximately $2.4 billion, or 11%, was allocated to about 1,000 seed-stage companies. Meanwhile, around 500 early-stage companies secured $9 billion globally in April.

Moreover, over 150 companies from Series C onward received $10.7 billion, constituting about 49% of the total funding last month, as per Crunchbase data. These figures align with the funding amounts recorded for those stages in April 2023.

Notable Deals: The largest funding round in April was a $1 billion deal secured by stealth startup Xaira Therapeutics for AI-driven drug development. Several deeptech and energy sustainability companies, including electric vehicle developer Hozon, solar provider Pine Gate Renewables, and quantum computing company PsiQuantum, also secured substantial funding.

Key Sectors: Biotech and healthcare emerged as the leading sector by funding amount in April, with companies in this space raising $5.7 billion, or approximately 26% of total funding. AI companies secured $3.9 billion, accounting for around 17% of the funding last month. Notable fundings in the AI sector were also raised by Augment and Cognition.

Other prominent sectors in April included hardware startups, which collectively raised $3.3 billion; manufacturing ($2.9 billion); and financial services companies ($2.9 billion).

Public Market Outlook: While the Rubrik IPO in April marked the third venture-backed private company to list at a value above $5 billion this year, the number still falls short compared to 2023. The recent market cap increases in the public markets have primarily favored big tech companies, with many listings from 2021 trailing behind their first-day peaks.

Conclusion: Despite the advent of generative AI leading to the emergence of new startups, larger private software companies are swiftly adapting to this new technology cycle. The AI revolution holds promise for incumbents who have raised significant capital in previous venture cycles and are integrating AI into existing products while reallocating costs to AI efforts.

However, while big tech companies have entered the fray with substantial funding, some generative AI startups struggle to meet financial obligations. For now, the venture landscape remains in a state of flux, with valuations stabilizing, and startups exploring new AI use cases while increasing investments in cloud and GPUs.

This compilation includes venture capital entities from the CEE region, which focus on both regional investments and the wider European startup landscape. Additionally, we've incorporated firms based in European countries, along with global entities operating with offices in the US and the UK, supporting entrepreneurs globally.

New VC funds from CEE

• OTB Ventures has closed its second $185 million deeptech fund. It will be used predominantly for Series A investments, with up to a 10% allocation for seed ones.
• Lithuanian Practica Capital has closed its third and largest fund at €80 million. It will target seed-stage investments in tech startups in Lithuania, Latvia, and Estonia, offering up to €3 million initially and ongoing support up to €8 million.
• Romanian-foundеd GapMinder has launched an €80 million venture capital fund, GapMinder Fund II. It will invest in seed and late seed stages tech companies from Romania, Moldova, Serbia, Croatia, Slovenia, and Bulgaria.
• Estonia-based 2C Ventures has launched its initial fund, with a target size of €50 million. The fund will support early-stage startups in the Baltic and Nordic countries, focusing primarily on the Estonian market, that develop renewable energy, waste reduction, water management, circular economy, and other cleantech solutions.
• Full Speed Ventures, a European VC firm co-founded by Polish investors, has launched its second €50 million technology fund. The fund will invest €1-2 million as a first ticket and continue supporting the company across CEE with a strong connection to Poland.
• Poland’s SMOK Ventures has closed its second $25 million fund, with plans to support up to 35 pre-seed and seed startups from Central and Eastern Europe and the region’s founders abroad. The checks’ amounts that the VC usually writes range from $100,000 to $1 million
• Ukrainian-founded 1991 Ventures launches a £15 million industry-agnostic fund for Ukrainian and CEE early-stage startups. It aims to invest in more than 40 companies.
• In January, Warsaw University of Technology Investment Factory (WUT IF) was launched. It is the first Polish VC, created by the public university. The fund is targeting $5 million, aiming to back 18 deeptech startups originating from universities across Poland.

New VC funds from Europe

• Norwegian private equity firm Verdane has closed its newest fund, Edda III, at €1.1 billion. Verdane will further invest in European companies working in the fields of digitalization and the decarbonization of the economy.
• Venture capital firm Plural has secured its second fund, amounting to €400 million. The new fund will continue the strategy it has chosen from the beginning, in June 2022, — each of the partners makes two investments into early-stage European companies per year, with checks ranging from €1-15 million.
• Vienna-headquartered venture capital firm Speedinvest has announced the final closure of its latest fund at €350 million. It is €50 million above target. It will continue to invest in deeptech, fintech, health and techbio, marketplaces and consumer, climate and industrial tech, and SaaS and infrastructure early-stage startups.
• Berlin-based World Fund has closed a €300 million first fund, aiming to make 25–30 investments into European climate tech startups over the next few years.
• 3TS Capital Partners, a European technology-focused growth capital investor, announced the final closing of Fund IV with €111 million. 3TS investment strategy identifies key investment areas across ICT and tech-enabled service sectors, and the fund typically leads investment rounds of €5-€20 million.
• Dutch venture builder DeepTechXL has raised €110 million to invest in photonics, complex mechanical engineering, semiconductors, and quantum computing.
• London and Dublin-based Frontline has closed a $100 million growth fund to invest in US B2B startups from Series B onwards who want to launch in Europe.
• Swiss pre-seed venture capital firm Founderful has announced the raise of €78 million for its new fund, aiming to reach a final close at €110 million in the upcoming months.
• London-based VC firm, Episode 1, announced the closure of its third fund at £76 million. Ticket sizes are expected to range from £250,000 to £3 million, with the firm focusing on AI, TechBio, open-source, software infrastructure, healthtech, and marketplaces startups.
• ​​German VC Earlybird has closed its €173 million second healthtech-focused fund. It invests in biopharma, medtech, and digital health startups between €3-8 million at Series A and B.
• UK-based Ada Ventures has closed its £63 million second fund. It plans to invest between £250,000 and £1.5 million in pre-seed and seed-stage startups.
• Nordic Science Investments (NSI) of Finland has closed a €60 million fund to support deeptech spin-out startups emerging from universities across the Nordic region.
• Early-stage VC Delin Ventures has closed a new £46 million fund targeting future of work, education and learning pre-seed and seed-stage startups in Europe, with a focus on the UK and the DACH region.
• Early-stage fund VIVES IUF has raised €38 million in capital, bringing its total funding to €70 million. It plans to invest up to €7 million per portfolio company, ranging from pre-seed to Series B, focusing on human health, agtech, and engineering projects from Belgium and neighboring countries.
• Pieterjan Bouten, Showpad co-founder, has launched an early-stage VC fund Entourage, raising over $30 million. It is aimed to invest in B2B SaaS businesses.
• Barcelona-based VC firm Encomenda has made the first close of its second fund at €15 million. It aims to invest in early-stage startups, with a focus on companies based in Southern Europe and Latin America.
• Belgian angel investment group Syndicate One has completed an initial €4.8 million close of its debut fund, with more than 70 investors joined. The second closure is planned for early 2024.

New VC funds investing globally

• IVP, a US and UK-based venture capital firm, has raised $1.6 billion to support European tech companies during their Series B and Series C stages.
• Horizon Capital, a US and Ukraine-based private-equity firm, has closed its Ukraine-focused fund, Horizon Capital Growth Fund IV, that has reached $350 million in commitments. The final closing boosted the firm’s AUM to $1.6 billion.
• Giant Ventures has launched two funds, totaling $250 million in value. A $100m seed fund will back companies across climate tech and healthtech, a $150 million growth fund is dedicated to the climate tech startups in Europe and the US.

If you've made up your mind that it's worth it for you to take a shot at entering accelerator programs for startups, how do you choose the right one to apply to? We've compiled a collection of some of the top options for you to consider, noting the must-knows about each.

Often ranked as the best startup accelerator there is, Y Combinator is an accelerator pioneer that has an impressive list of alumni since its start in 2005. The accelerator funded over 4 thousand startups with an overall startup valuation of more than 600 billion USD.

Startups at various stages of development can apply to Y Combinator, in fact, more than half of the companies that went through the program had no revenue when applying. Plus, the rate of funding that companies raise after participation in YC is impressive. A lot of that is due to YC's extensive investor network that participants get invitation-only access to at the end of the program on Demo Day.

The YC community has over 6 thousand domain experts within the community, so startups can continue networking and collaborating with them after the batch. The competition for entering the program is intense, only 1.5% - 2% of the average 10 thousand applicants get accepted.

‍Top Y Combinator alumni: Stripe, Reddit, Airbnb, Coinbase, Dropbox, Webflow, Twitch

‍What they give: investment before the batch even begins, a dedicated YC Group Partner as an advisor, a 3-day in-person kickoff retreat, weekly meetups, top speakers, access to exclusive founders and investors networks, startup discounts to 100+ products

‍Program duration: 2 batches held twice a year (January-March and June-August), each lasts 3 months

‍How to apply: applications for each batch are accepted as far as 6 months in advance, startups apply by submitting an application on the official YC website, followed by an interview invitation

‍Terms: according to the standard terms, YC gives 500k USD to those who make the program for 7% equity (the 125k USD safe) and 375k USD uncapped safe (the Most Favored Nation provision safe)

Techstars is definitely fairly listed among the best tech accelerators. It has been supporting early-stage and seed startups since 2006. Over 9000 founders have participated in the accelerator and revved up their growth with an aggregated 26.6 billion USD of raised funds. About 500 startups at various stages get selected each year, and, on average, they raise about 1 million USD after the program culminates with a Demo Day.

Techstars holds multiple mentorship-based programs a year in various locations, including the USA, UK, Canada, Australia, Norway, Germany, Saudi Arabia, Nigeria, and others. Some programs are in-person, others have a hybrid format.

‍Top Techstars alumni: DigitalOcean, SendGrid, DataRobot, Chainalysis, Remitly

‍What they give: workshops, curated resources, mentorship in aspects like getting traction and finding the perfect market, access to capital and a world-class network of investors, founders, mentors, and industry leaders, access to more than 300 partner perks (valued >1 million USD)

‍Program duration: 3 months

‍Terms: Techstars offers up to 120k USD investment to its alumni (20k USD provided upfront) for 6% common shares equity

‍How to apply: startups have to fill out a detailed application for the selected program to get it reviewed

Numerous renowned companies have emerged from Plug and Play, one of the top startup accelerators founded in 2006. The company serves as a bridge between startups and large enterprises, helping businesses grow and scale to new markets.

It has more than 60 accelerator programs run each year in global locations. The accelerator helped more than 2500 startups that raised over 9 billion USD in aggregate. The specific industries of interest include Sustainability, Real Estate, Energy, Insurtech, Crypto, and Agtech, which are among the 20 verticals revolving around technology and innovation. Startups of different sizes and stages can be accepted (from seed to Series C and further). A cohort could include more than 50 startups.

‍Top Plug and Play alumni: PayPal, Lending Club, Dropbox, Tenor, Zoosk, GroundTruth

‍What they give: daily networking events, help in preparing for pitches, and let large corporations discover small startups

‍Program duration: varies, but takes several months on average

‍Terms: no equity is required for participating in the accelerator program, as an in-house VC, Plug and Play offers the chance to fund startups (from 25k to 500k USD) to become a future stakeholder and participate in the next funding rounds

‍How to apply: startups can apply to join the accelerator all year round, they fill out an application form on the portal

The list of the best accelerator programs for startups won't be complete without 500 Global. Previously known as 500 Startups, their Global Flagship program was launched in 2010 and focuses on innovative tech startups from AI and SaaS to media, marketplaces, and beyond.

The company has invested in over 2.8k startups worldwide. It currently offers founder programs and seed accelerators for startups around the globe. Usually, there are two batches per program per year, with approximately 18 participants in each cohort.

‍Top 500 Global alumni: Canva, Solana, Credit Karma, Talkdesk, GitLab, Twilio, Algolia

‍What they give: a business-focused curriculum (covers product strategy, startup marketing, product design, sales, accounting, finance, startup culture, and more), access to a broad network, preparation for investor pitches, and access to an expansive investor network

‍Program duration: 3 months on average

‍Terms: the accelerator provides 150k USD in seed investment for a 6% stake

‍How to apply: it costs 37.5k USD to participate in the accelerator (the program fee could be deducted from their seed investment, which will, in this case, be 112.5k USD), startups fill out applications all year long on a rolling admissions basis

MassChallenge is also considered one of the top startup accelerators in the world. On average, this global non-profit accelerator has about 10 programs a year, and importantly, all of them are zero-cost and zero-equity.

The programs for early-stage startups accept teams from all over the world and from different industries as long as they have less than 1 million USD in equity funding and have generated less than 2 million USD in annual revenue. The terms for their FinTech and HealthTech programs are different.

‍Top MassChallenge alumni: Bitso, Ginger, Hyliion, Spring Health

‍What they give: a 3-month curriculum with goal setting and product development, access to curated mentors and one-on-one mentorship, work in virtual groups, workshops, access to a peer network

‍Program duration: 4 months

‍Terms: all programs are zero-equity, accepted teams can receive cash rewards and other prizes

‍How to apply: teams create profiles on the official website and submit an application to join the selected program, which is followed by one or two judging rounds, finalists are invited to the program

Startupbootcamp

Startupbootcamp is among the best accelerator programs that's popular in 20 countries, including Latin America, Africa, Europe, Australia, and Asia. Launched in 2010, the accelerator has helped over 1600 startups with a total portfolio valuation of 5.6 billion euros. SBC graduates generally experience a 2.5 leap in valuation after participating in the program, raising about 1.5 million euros on average within a year.

There are more than 20 industry-focused programs to enter, including those devoted to FinTech & Cybersecurity, Renewable Energy & Net-Zero, Sports & EventTech, and others. Yet the competition is intense, as the average acceptance rate is only 1% (with just 10 startups accepted for each round).

‍Top Startupbootcamp alumni: Sendcloud, Kuda, Relayr, Funder, MyWorld, Curacel, Procurified

‍What they give: specialized guidance, access to an extensive network of industry experts, mentors, and partners, exclusive deals and perks from partners, the chance to secure funding on Demo Day at the end of the program

‍Program duration: 3 months on average

‍Terms: the accelerator provides startups that get accepted with 15k euros for 6 to 8% equity based on the specific program

‍How to apply: startups fill out a application, if it passes the initial review, the team gets invited to a Selection Day to pitch the startup

AngelPad

AngelPad was established in 2010, based in San Francisco and New York, and is ranked among the top startup accelerators in the US. It focuses on seed-stage startups and those with tech products (anything from AI, mobile, and healthcare to advertising, marketplaces, SaaS startups, and beyond).

This accelerator has already funded 150 companies, and, altogether, AngelPad's alumni received 2.2 billion USD in funding (with 14+ million USD on average for each). Around 15 teams get accepted twice a year, yet the acceptance rate for the cohorts is below 1%, meaning that it's very difficult to get accepted from the average pool of about 2000 applicants.

‍Top AngelPad alumni: Buffer, Pipedrive, Beamery, Iterable, Postmates

‍What they give: dedicated mentorship and guidance on vital business areas (like finding product market fit, defining the target market, company validation, and beyond), access to over 300k USD in cloud credits from partners, preparation for fundraising

‍Program duration: 3 months

‍Terms: AngelPad invests 120k USD in every company for 2% equity plus 5% in common stock (which adds up to about 7% of the equity)

‍How to apply: startups submit an application with information about the startup and its team of founders, followed by an in-person interview

Alchemist Accelerator

The Alchemist Accelerator was launched in 2012 and is one of the best startup accelerators oriented at early-stage startups and deeply technical teams working with enterprises and larger companies (as opposed to selling to individual consumers directly). The accelerator has worked with more than 500 startups.

The programs have only about 25 participants in each cohort, and the major areas in focus are Industrial IoT, Climate Tech, Digital Health, Diversity, FinTech and Cybersecurity. The hubs are in Memphis, San Francisco, and Munich.

‍Top Alchemist Accelerator alumni: MoEngage, Privacera, Yotascale, FarmWise

‍What they give: guidance from enterprise mentors, product development help, assistance with partnerships, regional industry conferences, Demo Day, access to exclusive partner deals with a value of 400k USD

‍Program duration: 6 months

‍Terms: the accelerator offers around 25k USD in funding for 5% equity, on average

‍How to apply: applications are accepted on the official website (there are application deadlines for entering the program), if it passes, there is an interview

SOSV

SOSV is a global venture capital firm and accelerator launched in 1995. The company supports both pre-seed startups and those at later stages. Over the years, 7 of their startups have become unicorns, and, in aggregate, SOSV portfolio companies have raised over 2 billion USD. The accelerator is based in the USA, China, and other locations.

SOSV runs two programs for startups, HAX (revolves around hard tech, including healthcare and sensors) and IndieBio (focuses on the human and planetary health industry, helping scientist entrepreneurs). Both programs are in-person and remote.

Top SOSV alumni: Temasek, Khosla Ventures, Sequoia, Artesian, Prime Movers Lab

‍What they give: mentorship with startup experts, scientists, and engineers, assistance in finding lead investors, SOSV investment opportunities during and after the program

‍Program duration: 3 to 6 months

‍Terms: SOSV invests from 150k USD up to 500k USD starting from the pre-seed round, post-debt equity varies and could be around 11%

‍How to apply: after selecting the HAX or IndieBio program, startups submit an application on the official application portal, applications are reviewed on a rolling basis, if accepted, the startup is invited to a series of screening calls

Google for Startups Accelerator

The Google for Startups Accelerator accepts growth-stage startups to their equity-free programs, which include 10 to 15 startups in each cohort and are both remote and in-person. The most popular programs include Sustainability, AI First, Circular Economy, Cloud, Climate Change, and others. The programs are run all around the world, including North America, Latin America, Europe and Israel, Asia, and Africa.

‍Top Google For Startups Accelerator alumni: GetSteps, Hutch, Impressivo, Localyze

‍What they give: mentorship and training with Google and industry experts, tackling technical challenges, sprint projects, group learning sessions, deep dives and workshops on various business areas, access to the founder's network, credits for Google Cloud products

‍Program duration: 3 months

‍Terms: no equity is required to participate

‍How to apply: mostly seed or series A startups that are deeply technical get accepted, startups submit applications for review to get selected for participation

Connecting Platforms for Co-Founders Based on Accelerators

It's widely recognized in the startup realm that teams comprising both tech and non-tech founders stand a better chance of success. These co-founder partnerships thrive on the synergy between individuals with diverse skill sets and backgrounds across various business domains. So, how can accelerator programs for aspiring entrepreneurs further enhance your prospects?

If you're unfamiliar with matchmaking platforms, it's worth noting that some operate internally within startup accelerators. These platforms are tailored to assist founders in finding compatible co-founders to collaborate with. They provide a conducive environment for individuals to connect with like-minded potential co-founders who share similar goals and possess complementary skills.

However, don't mistake these matchmaking platforms for mere "Upwork for co-founders"; they're more akin to a "Tinder for co-founders" focused on fostering long-term, business-oriented relationships. Yet, there's more to these tools than simply swiping right to find an ideal match.

Here are a few notable examples of co-founder matching platforms affiliated with accelerators:

• Y Combinator Co-Founder Matching Platform: Accessible through their Startup School program, this platform allows individuals to create profiles detailing their interests and ideal co-founder preferences. It has facilitated over 100,000 matches worldwide.
• CoFoundersLab: Another popular service offering a platform to find potential co-founders. It hosts various in-person events, provides online matching, and boasts a vast community of entrepreneurs, investors, and mentors, with over 650,000 users spanning 200 cities globally. It's free to join for those seeking a founder.

The primary objective is to streamline the process of finding and connecting with co-founders. This applies to both solo founders and teams with promising startup concepts who seek collaboration but prefer not to go it alone or lack specific expertise.

In many instances, the missing piece of the puzzle is the tech-savvy co-founder. While candidates for such roles typically include experienced developers or CTOs, there are alternative co-founder collaboration models available. For instance, non-tech founders can explore partnerships with product studios, effectively acquiring a technical co-founder along with an entire seasoned team possessing both technical and business acumen. This collaboration model allows access to development services at reduced rates in exchange for equity.

Wayve, a pioneering force in Embodied artificial intelligence (AI) for autonomous driving, announced the successful closure of €975.350 million ($1.05 billion) in Series C funding. This round was spearheaded by SoftBank, with contributions from new investor NVIDIA and existing investor Microsoft. This investment is poised to propel Wayve's mission to revolutionize autonomous mobility through embodied intelligence.

Embodied AI signifies a groundbreaking frontier in AI innovation, surpassing Generative AI and large language models. Integration of Embodied AI into vehicles and robots heralds a paradigm shift in how machines interact with and learn from human behavior in real-world settings. This innovation holds immense promise to enhance the usability and safety of autonomous driving systems, equipping them with the intelligence to adeptly navigate situations deviating from strict patterns or rules, such as unexpected actions by drivers, pedestrians, or environmental elements.

Alex Kendall, Co-founder and CEO of Wayve, expressed: “At Wayve, our vision is to develop autonomous technology that not only becomes a reality in millions of vehicles but also earns people’s trust by seamlessly integrating into their everyday lives to unlock extraordinary value. This significant funding milestone underscores our team’s steadfast belief that Embodied AI will address the longstanding challenges the industry has faced in scaling this technology to everyone, everywhere.”

Established in 2017, Wayve has emerged as a trailblazer in the field of Embodied AI for autonomous driving. Notably, Wayve was the first to pioneer and test an end-to-end (e2e) AI autonomous driving system on public roads. This pioneering endeavor paved the way for an industry-wide shift towards AI, coined ‘AV2.0’. Through their extensive efforts, Wayve has successfully developed foundational models for autonomy, akin to a ‘GPT for driving,’ enabling any vehicle to perceive its surroundings and navigate safely through diverse environments.

Wayve has devoted years of rigorous research and development to cement its position as the market leader in AV2.0. They have crafted hardware-agnostic AI driving models for mapless autonomous driving and a suite of innovative technologies, including fleet learning, data infrastructure, evaluation, and simulation platforms, designed to rapidly enhance their AI models using real-world and simulated data.

By leveraging Wayve’s advanced proprietary tools, OEMs and fleet owners can harness valuable data assets bridging the gap between raw data and unparalleled driving capabilities. Furthermore, the company’s research on multimodal and generative models, such as LINGO and GAIA, is propelling the automotive industry towards a future where AI in vehicles can offer advanced features like intuition, language-responsive interfaces, personalized driving styles, and co-piloting to enhance the automated driving experience.

Kentaro Matsui, Managing Partner at SoftBank Investment Advisers, Head of the New Business Office at SoftBank Group, and Board Member at Wayve, remarked: “AI is revolutionizing mobility. Vehicles can now interpret their surroundings like humans, enabling enhanced decision-making that promises higher safety standards. The potential of this type of technology is transformative; it could eliminate 99% of traffic accidents. SoftBank Group is delighted to be at the forefront of this effort with Wayve, as advanced intelligence redefines mobility and connectivity, contributing to a more convenient and safer society.”

Rishi Dhall, Vice President of Automotive Business at NVIDIA, added: “Wayve is pioneering new AI applications for their next-generation AV2.0 approach, built on NVIDIA DRIVE Orin and DRIVE Thor, which use the new NVIDIA Blackwell architecture designed for transformer, LLM, and Generative AI workloads. Together, we can help enable self-driving vehicles that deliver the intelligence, dependability, and skill of the best human drivers.”

Dominik Wee, Corporate Vice President of Manufacturing and Mobility at Microsoft, commented: “Microsoft is pleased to be working with Wayve to develop and deploy Wayve’s end-to-end AI autonomous driving products for automotive enterprise customers. By utilizing Microsoft’s supercomputing capabilities and cloud computing technology, copilot-enabled developer platform, enterprise data management applications, and leading AI model commercialization expertise, Wayve can deliver and scale innovative Embodied AI solutions that enable safer and more accessible autonomous driving experiences.”

This Series C investment empowers Wayve to fully develop and launch the first Embodied AI products for production vehicles. Wayve’s hardware-agnostic, mapless product solutions enable OEMs to efficiently upgrade cars to higher levels of driving automation (from ‘eyes on’ assisted driving to ‘eyes off’ fully automated driving) as Wayve’s AI models progress. The company will also concentrate on scaling its foundational models, advancing Embodied AI research, and constructing an industry-leading AV2.0 Platform with reliable simulation, measurement, and active learning tools for automotive applications. Lastly, the funds will facilitate Wayve's expansion into new markets, building geographically diverse data assets, and attracting global talent.

UK’s Prime Minister Rishi Sunak, also commented: “From the first electric light bulb or the World Wide Web, to AI and self-driving cars – the UK has a proud record of being at the forefront of some of the biggest technological advancements in history. I’m incredibly proud that the UK is the home for pioneers like Wayve who are breaking ground as they develop the next generation of AI models for self-driving cars. The fact that a homegrown, British company has secured the biggest investment yet in a UK AI start-up is a testament to our leadership in this industry, and that our plan for the economy is working.”

Suranga Chandratillake, general partner at Balderton and early investor in Wayve (Series A), added following the company’s Series C funding announcement: “This round of financing, the single largest ever into a European AI company, will allow Wayve to build on its existing lead in Embodied AI and deliver autonomous vehicles on our roads. Wayve’s unique end-to-end reinforcement learning approach to self-driving cars has proven to build more robust machine intelligence faster, safer and at less cost than other, first generation competitors and it’s exciting to see the company now have the resource to take this approach to market. Wayve is also a singularly important company for Europe.”

For startups, a pitch deck stands as the linchpin for securing funding, a make-or-break element for business success. When executed effectively, it illuminates your solution and captivates investors' attention. However, missing the mark spells difficulty in obtaining the necessary funding to propel your company forward. Crafting the perfect pitch deck demands attention to several essential elements. Here, I aim to outline the most common missteps and offer solutions to rectify them.

Pitfall 1: Neglecting the broader narrative

A compelling pitch deck parallels a gripping film or novel. It requires a hook to build anticipation, a conflict, or an unexpected twist to engage your audience. The overarching narrative provides your audience with the context to understand why your pitch holds significance for them. Diving straight into achievements or technology risks losing your audience's interest. Instead, construct a clear narrative arc. Often, company pitches follow familiar storytelling patterns such as a quest or triumphing over adversity. Just like in Harry Potter, where the protagonist embarks on a quest to combat dark forces, your company's journey can be similarly compelling. However, ensure your WHY is specific. Merely stating "climate change is the challenge of our lifetime" falls short. Furthermore, consider whether your messages genuinely resonate with your audience or only resonate with you.

Pitfall 2: Omitting your value proposition

Time is a precious commodity, especially for investors who sift through numerous pitch decks daily. Hence, clarity regarding your value proposition is paramount. While you may intimately understand your value proposition, does it stand out? Is it well-defined and unique enough to differentiate your offering from competitors? To address these questions effectively, focus on key points. Who does your solution benefit? What problem does it solve, and what makes your solution unique? Be precise and explicit about your aspirations and plans. Refining your value proposition demands time but yields dividends by helping your pitch and overall communication stand out, crafting unique messages that resonate.

Pitfall 3: Information overload

We all have that friend who, when asked "How are you?", delivers a 15-minute TED Talk, complete with a detailed analysis of recent sports events and Netflix releases. Similarly, pitch decks can suffer from excess information. While aesthetically pleasing, cramming 20 slides into a five-minute presentation overwhelms your audience. A more concise version would significantly enhance your pitch. Remember, you must earn your audience's attention. Streamline your slide decks by reducing text and incorporating clear headlines and accessible graphs. This facilitates audience engagement with your story and value proposition.

Pitfall 4: Lack of consistency

Maintaining consistency in your pitch deck is crucial. Randomly arranged slides confuse your audience and undermine your storytelling efforts. Dedicate time and focus to perfecting your pitch deck, ensuring it communicates a coherent narrative. Utilize a consistent set of slide layouts, fonts, text sizes, and spellings. Seeking feedback from individuals outside your core team can provide valuable insights.

Pitfall 5: Overdependence on templates

While templates offer valuable guidance and structure, they should not dictate your pitch deck's content entirely. Tailor the template to fit your business needs, ensuring every slide contributes meaningfully to your story. While drawing inspiration from templates is beneficial, avoid overreliance on them. Customize your pitch deck to accurately reflect your business and its unique story.

In summary, a well-crafted pitch deck hinges on key considerations. Establish a compelling narrative at its core, highlight your value proposition, and ensure conciseness and consistency in design and style. By sidestepping these pitfalls and implementing this guidance, you can create a pitch deck that resonates deeply with your target audience.

InsurTech Hub Munich invites ambitious startups to apply for the 12th edition of its SCALE AI Innovation Programme. As a vibrant collaboration platform, they thrive in connecting a diverse network including insurance and cross-industry companies, investors, startups, top universities, research centres, media, and government entities.

In the face of today’s rapidly evolving digital landscape, the demand for AI integration within the insurance sector is more crucial than ever. ITHM’s Innovation Programme is expertly designed to fast-track startups to success, offering a comprehensive suite of multi-step methodologies, concierge services, and unmatched access to product/market fit. Through personalised mentoring, coaching, and substantial business development efforts, we ensure that participants can confidently overcome the industry’s challenges.

Why wait? Apply Now to SCALE AI and amplify the impact of your solution in the insurance sector.

Estefania Rodriguez Migliarini, Programme Manager at ITHM. said: “Through our Scale AI program, start-ups will have the opportunity to make a significant impact by revolutionising various facets of the insurance industry.”

Start-ups participating in the programme will have the chance to tailor solutions to specific challenges across the insurance value chain. From addressing regulatory hurdles to enhancing internal operations and improving customer experience, AI’s transformative trend bears limitless opportunities.

This trend became the perfect ground for startups to seize the opportunity to offer highly Specialised Solutions, moving away from isolated AI use cases to grow to their whole potential and scale up massively. Through the Scale AI program, start-ups should not exclusively aim to enhance internal operations within insurance companies across the entire value chain by addressing aspects such as Marketing & Distribution, Underwriting, Product Development, Claims Management, IT, and Supportive Functions. Scale AI proposes a holistic approach to also exploring customer-facing solutions, enhancing the UX of customers by leveraging AI implementation.

Some of the most relevant use cases for the insurance industry and AI include accelerating claims processing, analysing unstructured data, risk assessment, upskilling employees, implementing AI-powered chatbots for customer service, and utilising predictive analytics to identify potential fraud or anomalies in insurance claims, and mitigating risks in an increasingly regulated environment, among others.

With over 250 high-impact use cases identified through collaborative focus groups with industry experts, ITHM is poised to select the most impactful start-ups to drive innovation forward.

For AI startups eager to revolutionise the insurance industry, the opportunity awaits. Stay tuned to InsurTech Hub Munich’s LinkedIn account for updates on the Scale AI programme and details on how to apply.

Programme overview:

The programme curriculum is fully tailored to the insurance sector, ready to leverage the changes of DACH region-based startups and beyond; along with setting the basis for cross-industry startups to place insurers on their radar.

Duration: 3-month hybrid programme, in which only 2 dates require in-person participation in Munich:

Application deadline: 12th of July

Don’t miss this incredible opportunity! Join the SCALE AI Innovation Programme. Apply now to gain access to unparalleled business development prospects, coaching, and mentorship from industry experts.

Better for Founders

Techstars strongly believes and operates under the principle that great ideas can, and do, come from anywhere and anyone—no matter where entrepreneurs live or what their backgrounds may be.

This year we're investing in more startups than ever before, selecting 700-800 early-stage companies to join one of our 3-month, mentorship-driven accelerators. Investing $120K and providing hands-on mentorship and access to the Techstars network for life.

We offer programs globally, from Los Angeles to London, catering to a wide range of verticals like Space, Web3 and Sustainability, plus several non-vertical programs. Complete the form to express your interest in applying for a Techstars accelerator program and we will help connect you to the right program for your company.

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Techstars accelerators have one goal

To help entrepreneurs succeed. During the immersive 3-month accelerator programs, we surround companies with the best mentors and an unrivaled network of investors, corporate partners and alumni founders. We provide early stage startups with:

Access to financial, human, and intellectual capital to fuel the success of their business

Lifetime access to the Techstars worldwide network

Access to over $400k of cash equivalent hosting, accounting, and legal support—plus other perks worth more than $5M

Demo Day exposure and investor connections. Historically, on average, Techstars companies go on to raise more than $2M of outside capital after the program

It’s a proven model that’s helped build thousands of successful companies, all over the world.

Want to stay updated on the largest startup funding deals in 2024? Check out our curated list of $100 million-plus venture deals for U.S.-based companies on The Crunchbase Megadeals Board.

This weekly feature highlights the top 10 announced funding rounds in the U.S. each week. You can see last week’s biggest funding rounds here.

It was another strong week for big raises. Two U.S.-based startups secured funding rounds of a quarter-of-a-billion dollars or more, and eight rounds exceeded $100 million. Biotech made up nearly a third of the list, with developer platform and analytics sectors also represented.

Uniquity Bio, $300M, biotech: Leading the list is Uniquity Bio, a new company launched by Blackstone Life Sciences, receiving a $300 million investment. This clinical-stage drug development company focuses on immunology and inflammation and has an FDA-approved Phase 2 investigational new drug application for one of its medicines.

Vercel, $250M, developer platform: Vercel secured a $250 million Series E at a $3.25 billion valuation, led by Accel with participation from existing investors. The San Francisco-based platform, which helps companies develop web applications in the cloud, recently surpassed $100 million in annualized revenue and has over 1 million monthly active developers.

Sigma, $200M, analytics: Sigma, a cloud analytics startup, raised a $200 million Series D co-led by Spark Capital and Avenir Growth Capital. The new valuation of $1.5 billion marks a 60% increase from its Series C in 2021.

Restaurant365, $175M, accounting: Irvine-based Restaurant365 raised $175 million led by ICONIQ Growth. This enterprise management software provider for restaurants has raised over $438 million to date.

The Bot Company, $150M, robotics: Founded by Kyle Vogt, The Bot Company aims to develop robots to perform household chores. The $150 million seed funding came from investors including Quiet Capital and Stripe’s Collison brothers.

Weka, $140M, data: Weka secured a $140 million Series E led by Valor Equity Partners, valuing the company at $1.6 billion. The data platform facilitates faster and more efficient data movement, essential for AI projects.

Lycia Therapeutics, $107M, biotech: Lycia Therapeutics raised $106.6 million in a Series C led by Venrock Healthcare Capital Partners. The company focuses on developing therapeutics for autoimmune and inflammatory diseases.

Alkira, $100M, cloud infrastructure: Alkira, based in San Jose, closed a $100 million Series C led by Tiger Global Management. The company enables management of hybrid cloud assets.

9 (tied). Ajax Therapeutics, $95M, biotech: Ajax Therapeutics, developing a drug for bone marrow cancer, raised $95 million in a Series C led by Goldman Sachs Alternatives.

9 (tied). ByHeart, $95M, nutrition: ByHeart, an infant formula brand, secured $95 million from undisclosed investors and announced new production facilities in Oregon and Iowa, tripling its supply capacity.

Big global deals

U.S.-based startups dominated big rounds this week, with no nine-figure rounds raised globally. The largest round outside the U.S. was from Australian-based Cover Genius, which raised $80 million in a Series E.

Weka secured $140 million in a Series E round — raised through both primary and secondary transactions — valuing the data platform at $1.6 billion.

This new valuation more than doubles the company's worth from its $135 million Series D led by Generation Investment Management in late 2022, when it was valued at $750 million. The latest round was led by Valor Equity Partners.

Weka enhances data transfer efficiency across various sources, essential for AI project development, and can handle a wide range of data types and sizes.

“The surge in generative AI and enterprise cloud adoption has significantly increased customer demand, leading to a remarkable number of eight-figure ARR deals, an impressive achievement given Weka's software-based model,” said Weka CFO Intekhab Nazeer. “This was an ideal time to bolster our cash reserves, allowing investors to expand their stake while minimizing share dilution for our employees.”

Founded in 2013, Weka has raised $375 million to date, according to Crunchbase.

Building AI Infrastructure

While many focus on new AI tools for tasks like email generation or voice mimicking, investors are interested in the underlying architecture enabling these technologies.

In February, Lambda achieved unicorn status with a $320 million Series C at a $1.5 billion valuation. The company provides cloud computing services and hardware for AI software training and is a key supplier of Nvidia’s latest GPUs, in high demand among AI developers.

Earlier this month, AI cloud infrastructure startup CoreWeave secured $1.1 billion in a round led by Coatue, valuing the company at $19 billion, according to The Wall Street Journal. This valuation is nearly three times its worth five months ago, following a secondary sale that valued it at $7 billion, and a significant jump from its $2 billion valuation in a Series B extension last May.

Central and Eastern Europe (CEE) is emerging as a vibrant hub for startups and innovation. Countries like Romania, Estonia, Serbia, Poland, Croatia, Czech Republic, Hungary, Slovenia, and Lithuania are making significant strides in the startup ecosystem. The region’s GDP growth consistently outpaces the EU average, reflecting its dynamic economic landscape and resilience.

With over 26,000 startups in the CEE region, their combined enterprise value has more than doubled in the past five years, soaring from €89 billion in 2019 to €213 billion in 2023. Poland leads with nearly eight thousand startups, followed by Romania and Czechia with over three thousand each. The CEE region boasts 52 unicorns, collectively valued at €129 billion, representing 60% of the ecosystem’s total enterprise value.

Croatia and Lithuania have experienced the fastest growth in combined enterprise value since 2017, with Croatia surging by 16.6x to €10 billion and Lithuania by 15.7x to €4.7 billion. In 2023, Estonia topped the charts for startups as the most tax-friendly country in CEE and founder-friendly when it comes to bureaucracy, with the best free Wi-Fi network, coding in school curricula, and an e-residency program.

CEE has established itself as a leading region for Enterprise Software, with this sector accounting for a significantly larger portion of VC activity compared to others. The combined valuation of CEE Enterprise Software startups, at €80 billion, surpasses that of Fintech (€30 billion), Transportation (€19 billion), and eCommerce (€19 billion) startups combined. As the ecosystem continues to mature, CEE is witnessing the rise of promising startups in various segments, including disruptive technologies like Gaming, Web3, and Crypto.

Amidst macroeconomic challenges, DeepTech has emerged as a beacon of success. Leveraging its abundant engineering talent, CEE is actively participating in the global DeepTech wave. The EU aims to channel $47 billion in private capital to support DeepTech startups including CEE.

CEE founders are also embracing the AI revolution, with over 900 active AI product startups in the region.

Establishing a vibrant startup ecosystem relies on a solid enabling infrastructure. This includes access to funding and talent, a supportive regulatory environment—especially regarding IP, taxes, and data protection—and high-speed broadband connectivity. Additionally, opportunities for networking, learning, and collaboration are essential. In CEE region, opinions on new regulations, especially on the EU’s AI Act vary. Some express concerns about implementation challenges and potential competitiveness. This legislation, along with the Digital Markets Act (DMA) and Digital Services Act (DSA), impacts tech startups in the region. While DMA and DSA prioritize transparency, uncertainties surround DMA’s effect on startup growth. Furthermore, the forthcoming Data Act aims to enforce data sharing, potentially benefiting startups. EU initiatives for startups include regulatory sandboxes, investment programs, and efforts to define startup categories.

Across CEE region, startup support is evident through accelerator and incubator programs, such as the Baltic Startup Wise Guys in Riga, Vilnius, and Tallinn, and Seedcamp, which continuously invests in CEE startups. Co-working spaces also play a crucial role in startup success, fostering community-building and collaboration. Examples include HubHub (with branches in Prague, Budapest, Warsaw, Bratislava, and London) and the Cambridge Innovation Centre (Warsaw).

Despite current geopolitical risks, the investment landscape in CEE remains one of the fastest growing in Europe, experiencing a 7.6x increase since 2017. Offering a unique blend of advantages including lower operational costs, a skilled workforce, and supportive regulatory frameworks, the CEE region presents significant opportunities for investors.

Recently, CEE founders encountered challenges in fundraising, leading to cautiousness among VCs. However, the region witnessed several impressive funding rounds.

“The difficulty of obtaining external financing or relying on customer cash means that one must be proactive and, above all, ready to adapt. The economic situation exposed business realities; the bar was raised high. Only good and the best projects won,” says Magda Surowiec, managing partner at Unfold VC.

In 2023, CEE companies secured €2.1 billion in VC investment, with over 940 funding rounds across 114 cities. Early-stage funding accounted for €900 million, while Series B attracted over €1.2 billion across 340 deals. Notably, in Q1 2024, startups raised €630.1 million, compared to €566.5 million in the same period of 2023.

VC funding for CEE-based Crypto and Web3 startups has surged by 5.6x since 2021. Web3 and Gaming startups in CEE mutually reinforce each other, capitalizing on the region’s renowned expertise. Estonia (€1.3 billion), Slovenia (€427 million), and Serbia (€289 million) concentrate over 70% of the combined value of Web3 startups in CEE.

With over €2 billion in exits since 2020, CEE has demonstrated a winning streak in Gaming. In the past five years, startups focusing on logistics & delivery, mobility, and vehicle production in CEE raised over €1 billion. Additionally, medical device startups raised €77 million in funding over 2023, marking significant growth compared to €20 million in 2022.

The region has witnessed several impressive funding rounds, often led by international VCs. Lithuania saw two $100 million rounds with PVcase and Nord Security. Czechia experienced Keboola’s $32 million Series A, while Romania’s FlowX.ai raised a $35 million Series A and DRUID secured a $30 million Series B. Poland’s Vue Storefront raised a €20 million Series A. Average funding rounds, primarily involving regional investors, have seen an uptick compared to the previous year, increasing from €0.8 million to €1.2 million.

The region has seen remarkable growth, with the number of unicorns more than doubling from 21 to 52 in 4 years. In Poland alone, there are five unicorn startups: Allegro, InPost Group, CD Projekt, Pracuj Group, and Techland.

2023 saw a significant drop in funding across CEE, particularly at growth and late stages, but Q1 of 2024 has already seen three startups from the region achieve unicorn status: Prague-based Mews, ElevenLabs with offices in Warsaw and New York, and Techland from Wroclaw.

Currently, CEE region boasts 52 unicorns valued at €129 billion, making up 60% of the total ecosystem value. Croatia, Ukraine, and Estonia stand out with twice the number of unicorns per funded startups compared to the European average.

Here are some startups to watch:

The countries within Central and Eastern Europe are uniting at a European level to amplify their digital voices and ensure their interests are effectively represented. Additionally, fostering collaboration at the EU level, particularly between institutions like the European Institute of Innovation and Technology and the European Innovation Council, holds immense potential. Such collaboration can identify promising companies within the CEE and streamline their access to funding, fostering growth and innovation within the region.

Startups can view Central and Eastern Europe as a good starting point for fast and cost-effective business and product testing before expanding into larger and more competitive markets. While the startup ecosystem is developing rapidly and investments are available here, it’s important to prioritize client needs and revenue over securing the next round of funding, as successful startups from CEE did when they went global with strong PMF, growing their businesses on new markets.

Keeping up with the rapidly evolving AI industry is no small feat. Until AI can handle that for you, here’s a quick roundup of recent stories in the world of machine learning, along with notable research and experiments that we didn’t cover separately.

By the way, TechCrunch will soon launch an AI newsletter. In the meantime, we’re increasing the frequency of our AI column from twice a month to weekly, so expect more frequent updates.

OpenAI's Dominance and Shifting Priorities

This week, OpenAI once again captured headlines with a new product launch and some internal changes. The company unveiled GPT-4o, its most advanced generative model yet. Shortly after, it disbanded a team dedicated to developing safeguards against "superintelligent" AI systems.

The team's disbanding made significant news. Reports indicate that OpenAI deprioritized safety research in favor of product launches like GPT-4o, leading to the resignation of the team’s co-leads, Jan Leike and OpenAI co-founder Ilya Sutskever.

While superintelligent AI remains largely theoretical, this week's coverage suggests that OpenAI’s leadership, particularly CEO Sam Altman, is increasingly prioritizing products over safety. Altman reportedly frustrated Sutskever by rushing AI-powered features for OpenAI’s first developer conference last November. He also clashed with Helen Toner, a former board member, over her critical paper on OpenAI’s safety approach, to the point of attempting to remove her from the board.

Over the past year, OpenAI has faced criticism for letting its chatbot store fill with spam and allegedly scraping data from YouTube against terms of service. The company has also voiced ambitions to let its AI generate explicit content. It appears that safety has taken a back seat, prompting some safety researchers at OpenAI to seek opportunities elsewhere.

Other Notable AI Stories

OpenAI + Reddit: OpenAI reached an agreement with Reddit to use its data for AI model training. While Wall Street welcomed the deal, Reddit users may have mixed feelings.

Google’s AI: At its annual I/O developer conference, Google unveiled numerous AI products, including video-generating Veo, AI-organized search results, and updates to Google’s Gemini chatbot apps.

Anthropic Hires Krieger: Mike Krieger, Instagram co-founder and recently co-founder of personalized news app Artifact, is joining Anthropic as its first chief product officer, overseeing consumer and enterprise efforts.

AI for Kids: Anthropic announced it would allow developers to create kid-focused apps using its AI models, provided they follow specific guidelines. Notably, competitors like Google do not permit their AI to be used in apps for younger audiences.

AI Film Festival: Runway held its second AI film festival, showcasing that the most impactful moments often come from the human elements rather than AI itself.

More Machine Learnings

AI safety is top of mind this week following OpenAI’s changes. Google Deepmind introduced a new “Frontier Safety Framework” to identify and mitigate potential harmful AI capabilities. This includes identifying dangerous capabilities, regularly evaluating models, and applying mitigation plans to prevent misuse.

Meanwhile, Cambridge researchers highlighted the ethical concerns of chatbots trained on deceased individuals' data. While potentially useful for grief management, this technology poses significant social and psychological risks.

On a less eerie note, MIT physicists are using machine learning to predict physical systems' phases, streamlining complex statistical tasks. At CU Boulder, researchers are exploring AI’s role in disaster management, focusing on improving resource allocation and training responders through human-centered AI approaches.

Finally, Disney Research developed a method to diversify outputs from diffusion image generation models, enhancing the variety and alignment of generated images.

Stay tuned for more updates in the fast-paced world of AI.

Paris-based venture capital firm Blisce has announced the launch of a new climate tech fund, aiming to raise €150 million (approximately $162 million). The fund will be led by investor Pierre-Edouard Berion, with Lucie Basch, co-founder of Too Good To Go, joining as a venture partner.

Blisce, founded by entrepreneur-turned-philanthropist Alexandre Mars, operates out of Paris and New York. Mars, known for creating and selling tech companies to giants like Publicis and BlackBerry, previously raised $240 million (around €225 million) for Blisce’s last fund.

Mars also established Epic, a nonprofit foundation supporting organizations that combat childhood inequality in education and health, and fight climate change. A portion of Blisce’s profits funds Epic's operational costs, with the Blisce team committing 20% of its carried interest to the foundation.

Blisce has a track record of investing in successful companies, including Spotify, Pinterest, and Headspace. More recent investments include Brut, Sorare, and Welcome to the Jungle. While Blisce's portfolio has traditionally focused on consumer tech, the new fund will target tech startups positively impacting climate change, particularly in industries such as materials, food, construction, mobility, and energy.

Pierre-Edouard Berion, who will lead the fund, is well-known in Paris' VC circles. He previously served as investment director at Eurazeo, where he invested in companies like Zenly, Withings, and Vestiaire Collective, and later joined Raise Ventures as a partner.

Lucie Basch, whose company Too Good To Go is backed by Blisce, will contribute as a venture partner while continuing her role at Too Good To Go. Blisce is still in the process of raising money for the climate tech fund, and it will be interesting to see how successful they are in reaching their target.

A well-crafted startup pitch deck is essential for securing meetings with potential investors. Venture capitalists and angel investors sift through hundreds of pitch decks annually, spending just 2-5 minutes on each. Within this brief window, a concise, compelling pitch deck can ignite interest, spark conversations, and pave the way for funding.

While a stellar pitch deck alone won’t guarantee funding, it significantly boosts your chances of securing a critical meeting to present your idea. It needs to captivate, narrate your story, and preemptively address investor queries.

Key Elements of a Successful Pitch Deck

1. Clarity and Brevity:

Your pitch deck should be short, easily scannable, and packed with essential information. Key components include:

Problem Statement: Clearly define the problem your product or service addresses.

Market Size and Competitors: Outline the market size and potential competitors.

Growth Models: Present your growth strategy.

Team Credentials: Highlight the team's ability to execute the plan.

Beyond these basics, your pitch deck should convey your passion, commitment, and capability to sell your idea, attract talent, and win customers and partners.

2. Tailored Visuals:

Choose a pitch deck template that suits your business and audience. Ensure that branding elements enhance rather than overshadow your message. For example, a lighthearted, consumer-focused concept might benefit from a softer design, while cutting-edge technology could require a more sophisticated approach.

3. Compelling Storytelling:

Your pitch deck should open with an impactful statement or story. For instance, Facebook’s 2004 pitch deck began with a quote from the Stanford Daily, effectively capturing attention. Use narratives to make your pitch relatable and engaging.

Detailed Content Breakdown

1. Product Description:

Explain your product or service succinctly, focusing on user benefits. Demonstrating your product, rather than just describing it, can be more persuasive. Use demos, pictures, or videos if possible. Ensure an outsider can grasp what your product does from your pitch deck.

2. Market Assessment:

Avoid overestimating your market. Use industry standards and benchmarks to support your projections. Discuss the Total Addressable Market (TAM), Serviceable Addressable Market (SAM), and Serviceable Obtainable Market (SOM). Investors appreciate well-thought-out market analyses and realistic projections.

3. Team Qualifications:

Highlight relevant skills and experiences. Show that you can attract the right team and win customers. Diversity in your team can signal a broader perspective and inclusivity. Prove that your team's skills are pertinent to your business's success.

Avoiding Common Pitfalls

1. Overconfidence:

Acknowledge competitors' strengths and don’t exaggerate your market potential. Present a balanced view, showing how your unique approach gives you an edge.

2. Over-polished Decks:

An overly slick pitch deck can be a red flag, suggesting misplaced priorities. Focus on substance over style.

3. Targeted Approach:

Research potential investors thoroughly. Tailor your pitch to align with their interests, investment theses, and existing portfolios. A targeted approach is often more effective than a broad, unfocused effort.

Your pitch deck is a crucial investment in your company’s future. It’s not just about securing funds; it’s about validating the countless hours, emotional investment, and self-confidence you’ve poured into your venture. Craft a pitch deck that tells your story compellingly, and you’ll be well on your way to taking your business to the next level.

You've come up with an innovative business idea, raised initial funding, and believe you have what it takes to be an entrepreneur. What’s next? It’s time to validate your offering’s market potential.

What is Market Validation?

Market validation is the process of determining if there’s a need for your product in your target market. Validating your business idea enables you to predict whether people will buy your product or service and whether your business will be profitable. Early validation helps ensure you don't waste time and resources on a product that isn't a good fit, while also instilling confidence in investors, crowdfunders, and banks considering funding your startup.

By validating your idea, you gain a deeper understanding of how your product meets your target customers’ pain points. This insight helps create an offering that addresses market needs and earns your first paying customers.

5 Steps to Determine Market Validation

1. Write Down Goals, Assumptions, and Hypotheses

Start by writing down your business goals. This clarifies your vision, reveals any assumptions, and provides an end goal. Ask yourself:

What’s the value of my product?

Who’s the target audience, and what assumptions have I made about them?

What differentiates my product from existing ones?

What hypotheses do I have about my product, pricing, and business model?

Answering these questions helps communicate your product's value and differentiating factors, and tests assumptions and hypotheses.

2. Assess Market Size and Share

Estimate your target market's size and the share you could potentially capture. This helps gauge your business’s potential and justify its launch. For example, mattress retailer Casper assessed market size by comparing its differentiating factors (online model, 100-day return policy, viscoelastic foam) against the larger market. They determined they could capture a few percentage points of the total mattress market.

Do a similar exercise for your product. Research sales data, the number of manufacturers, and market share for similar products. Determine where your product fits and assess how much of the market you could own.

3. Research Search Volume of Related Terms

Research the monthly search volume of terms related to your product or mission. When consumers need a product, they often use search engines to explore options. Use tools like Moz to look up search volumes. For instance, “foam mattress” might garner over 11,500 monthly searches, indicating demand for Casper’s product.

If search volume is low, use terms that express customer intent. For a new, extra-supportive mattress material, search for “best mattress for lower back pain sufferers.” Even smaller volumes can bolster your hypothesis that there’s a need for your product.

4. Conduct Customer Validation Interviews

Interviewing your target market segment can reveal your product’s potential. This might involve hiring a market research company, sending out surveys, or requesting conversations with potential customers. Ask about their motivations, preferences, needs, and current products they use. Frame assumptions and hypotheses from step one as questions for interviewees. Record feedback for future use.

If feedback indicates weak market validity, use it to improve your offering and repeat the validation process.

5. Test Your Product or Service

Once you’ve identified market space for your product, ensure it’s useful and intuitive through alpha and beta testing.

Alpha Testing: Internal employees test the product to eliminate bugs and issues.

Beta Testing: A limited group of external users test the product, identifying problems. This might be open to the public for software or apps, with a notice about its unfinished state.

Testing with real users is invaluable for assessing market validity. Feedback from beta testers can help you better meet customer needs.

Turning Feedback into Action

Entrepreneurship is described as a “process of discovery.” To determine if your product fits the market, seek feedback to validate your beliefs about your offering. Flexibility and hard work are essential. Outline goals and assumptions, assess the market, interview customers, and conduct tests to gather the information needed to build the best version of your product.

Are you ready to turn your idea into a viable venture? Explore our four-week online course, Entrepreneurship Essentials, and other entrepreneurship and innovation courses to learn the language of the startup world. Unsure which course is right? Download our free course flowchart to find the best fit for your goals.

As Duamentes company indicated, Product-market fit (PMF) is like finding a match on Tinder: identifying a target audience willing to engage with your product. Here’s how to find PMF quickly and cost-effectively.

Understanding Product-Market Fit

PMF is about selling a product that the market wants or needs. It’s crucial to validate PMF early to avoid wasting resources on a product no one wants. PMF involves more than just market research; it includes developing a marketing strategy, gathering customer feedback, and determining distribution channels.

Our Approach to Uncovering PMF

Our approach, honed through numerous collaborations with startups, helps uncover PMF efficiently. Startups often face time and budget constraints, yet we consistently identify PMF or recognize when to pivot.

Steps to Determine Product-Market Fit

1. Analyze Product Development Background

Understand your company's assets, such as ideas, technologies, or past attempts at selling products. Gather information on the product's current position, target audience, and testing data. Identifying what has or hasn’t worked in the past helps avoid repeating mistakes.

2. Conduct Market Analysis

Analyze multiple regions or focus on specific areas based on your company's goals and resources. Avoid highly competitive markets unless you have a substantial marketing budget. Formulate hypotheses based on your team's knowledge and partner insights, then determine which countries to include in the analysis.

Consider Restrictions: Identify legal, compliance, and cultural barriers.

Highly Competitive Market: Decide whether to enter a saturated market or explore less competitive areas.

3. Formulate Value Proposition

Based on market analysis, determine what potential product to offer and identify your target audience. Conduct structured interviews to gather indirect information about the target audience's needs without directly discussing your product.

Product Discovery and Purchasing Journey: Understand how your audience discovers and buys products.

Product Testing: Demonstrate your product through presentations, prototypes, or landing pages to gauge interest.

Iterative Approach

After each interaction, refine your product description, value proposition, and presentation. Continuously adapt based on feedback until your offering aligns with market needs.

If Not Resonating: Revisit market evaluation and redefine the target audience. If still unsuccessful, reassess initial markets or consider pivoting the idea.

Standard Testing Methods

Once you achieve PMF, prepare for scaling with standard testing methods like banners or sales presentations. This process, typically taking 1.5 to 3 months, is faster and more cost-effective than other methods.

Conclusion

Achieving PMF requires a structured, iterative approach. By analyzing your product background, conducting market analysis, formulating a value proposition, and iterating based on feedback, you can efficiently align your product with market needs. Ready to find your PMF? Start by understanding your market and refining your product based on real-world insights.

In 2023, startups faced challenges in fundraising amid macroeconomic uncertainty. Capital became expensive due to interest rate hikes, and investors became cautious due to market downturn expectations. Valuations consequently declined, leading to flat or down rounds. The aftermath included a historically low number of IPOs. Early and mid-stage funding saw a resurgence in 2023, surpassing 2020 levels.

While early and mid-stage companies experienced a boost in funding, the late-stage sector encountered a funding squeeze. The preference for business models also shifted from rapid hyperscaling to prioritizing fundamental and sustainable unit economics. 2024 will be a pivotal year for fintech, while navigating the investment ecosystem will remain a challenge.

Below, we touch upon some of the key megatrends we see coming in fintech in 2024.

Fintech Trend #1: Sustainable finance

The world is currently not on track to achieve the Paris Agreement's goal of limiting global warming to below 2°C. Progress towards net-zero emissions has been slow, with a 60% increase in CO₂ emissions from energy and industry since 1992. Despite some momentum, achieving net zero by the end of the century is doubtful based on current trends.

Key considerations for incumbents include:

• Embracing renewable energy sources
• Utilizing carbon capture and accounting technologies
• Implementing circular economy practices
• Adopting precision agriculture

The Voluntary Carbon Market (VCM) is a segment where entities voluntarily buy carbon credits to offset their greenhouse gas emissions. Valued at $2 billion in 2021, it's projected to reach $40 billion by 2030.

Fintech Trend #2: Generative AI and RPA

Generative AI, exemplified by Open AI's ChatGPT, gained prominence in 2023 for producing various content types. Challenges associated with gen AI include slow adoption, alignment with industry practices, multimodal approach, and verticalization in fintech.

Robotic Process Automation (RPA) has become prominent in B2B software tech, with the market size predicted to reach $22 billion in 2025. RPA is expected to be a significant trend in fintech as banks aim to reduce costs and streamline operations through increased automation.

Fintech Trend #3: CFO (Chief Financial Officer) Tech and B2B Stack

The next generation of financial tools aims to automate workflows, enhance collaboration, and empower teams for a more proactive approach across the value chain. The FinTech tech stack in 2024 will include programming languages, frameworks, databases, and applications connected through APIs.

Fintech Trend #4: WealthTech empowering financial prosperity

Asset tokenization is gaining traction, boosting liquidity and investment opportunities. Private banking democratization is making personalized wealth management services more accessible. Early crypto custody leaders are addressing trust issues, and digital wallet technologies present significant opportunities for customer engagement.

Fintech Trend #5: Next generation KYB/KYC and AML

Evolution of AML solutions has introduced new technologies utilizing generative AI, modular architecture, and real-time decisions. Looking ahead to 2024, advanced generative AI models are expected to positively impact KYC/KYB/AML frameworks. Compliance 2.0 startups integrate KYC, KYB, and AML capabilities, emphasizing continuous customer monitoring, streamlined onboarding, and ongoing anti-fraud controls.

Conclusion

The trends shed light on the opportunities and challenges awaiting the fintech landscape in 2024. Startups and incumbents must adeptly respond to disruption across several megatrends. Unlock deeper insights into these transformative trends and uncover the trailblazing startups propelling financial institutions into a new era of change in our Fintech Megatrends Report. Stay ahead in the dynamic world of financial technology!

Oxford-based PQShield, a post-quantum cryptography startup, has announced it raised $37 million in a Series B funding round led by Addition. The company, founded in 2018, specializes in developing quantum-ready hardware, software, and communication technologies designed to protect against quantum threats to existing digital cryptography. This form of cryptography is integral to numerous internet browsers, corporate databases, and connected devices, including vehicles and aircraft.

The funding announcement aligns with the upcoming ratification of the National Institute of Standards and Technology (NIST)’s post-quantum cryptography standards in the US, which will require companies to adhere to new quantum-resistant regulations. Major tech firms such as Apple, Meta, Zoom, and Signal have already initiated their transition to post-quantum cryptography.

PQShield's CEO, Ali El Kaafarani, emphasizes that the move to post-quantum cryptography is no longer just about risk assessment but compliance, especially with the impending official standards. PQShield's clientele includes notable companies like AMD, Microchip Technologies, Collins Aerospace, and Lattice Semiconductor. The startup provides a mix of software and hardware design solutions and offers guidance to businesses and governments on transitioning to quantum security.

Quantum computers pose a significant threat to traditional cryptography methods like RSA and Elliptic Curve Cryptography (ECC), which were originally designed to resist attacks from classical computers. Quantum computers can potentially break these methods due to their advanced mathematical capabilities.

The pursuit of a fully functional quantum computer involves major players such as Google and IBM, along with over 147 startups in Europe. In 2023, startups in the quantum technology sector across EMEA raised $781 million.

While there's a slim chance that a practical quantum computer may never come to fruition, El Kaafarani believes the probability is high enough to warrant precautionary measures. With the new funding, PQShield aims to enhance its market position by boosting technical talent and commercial capacity. El Kaafarani acknowledges that recruiting skilled professionals in cryptography, a field that blends computer science, mathematics, hardware, software, and some physics, is one of the most challenging aspects of operating a cryptography firm.

Artificial intelligence, particularly generative AI, is the defining technology narrative of 2024. Despite OpenAI dominating the scene with services like ChatGPT and significant funding, a new report by Accel and Dealroom reveals a surge of promising contenders emerging from Europe and Israel.

Historically, Europe and Israel account for about 45% of global venture funding annually. However, this figure drops considerably in the AI sector, and even more so in generative AI. This discrepancy can be seen either as the region trailing behind or as a precursor to imminent growth as Europe and Israel catch up.

Investors are now keen on discovering the next major breakthrough, potentially at more attractive valuations than those in the U.S. Accel partner Harry Nelis noted that the report was initiated to assess the burgeoning generative AI startups across the region.

Key Findings from Accel and Dealroom

London has the highest concentration of GenAI startups, with nearly a third (27%) of the analyzed 221 startups based there.

Tel Aviv follows with 13%, Berlin at 12%, and Amsterdam at 5%.

Paris, despite being recognized as an AI development hub, ranks in the middle with 10%.

However, French startups are leading in funding. Generative AI companies founded in France have collectively raised $2.29 billion, surpassing all other European countries and Israel. Recent significant rounds include Mistral AI's $640 million and “H”’s $220 million seed round. Poolside, having relocated its headquarters from the U.S. to Paris, is reportedly raising another substantial round. Additionally, Hugging Face raised $235 million in August 2023, and Kyutai is making strides in open-source AI with substantial funding.

Comparative Funding Across Europe

France: $2.29 billion

U.K.: $1.15 billion (key players: Stability AI, Synthesia, PolyAI)

Israel: $1.04 billion (notable startups: AI21, Run)

Germany: $636 million (with Aleph Alpha securing $500 million last year)

Other countries in the region have raised significantly less, often under $160 million each.

Factors Influencing Regional Performance

Nelis attributes France’s success to strong educational institutions producing technical talent and large tech companies setting up operations to tap into this talent. Institutions like Cambridge, Oxford, and UCL in London, and Paris' leading universities contribute significantly to the talent pool.

Big tech companies, referred to as "hyperscalers," play a crucial role in nurturing AI talent. Facebook/Meta and Google have established AI research labs in Paris, while DeepMind operates in both London and Paris.

Interestingly, 25% of GenAI startup founders previously worked at major tech firms such as Alphabet (Google/DeepMind), Apple, Amazon, Meta, or Microsoft (collectively referred to as MAAMA). Among the top 10 startups, 60% of the founders hail from these companies, with Google standing out as a prominent incubator for AI talent, surpassing even some prestigious universities.

In summary, while the AI landscape in Europe and Israel currently lags behind in funding, the region is poised for significant advancements, driven by educational excellence and strategic investments from both startups and established tech giants.

Hi everyone, welcome to TechCrunch’s regular AI newsletter. This week, we’re diving into a troubling development: generative AI is now spamming academic journals.

In a recent post on Retraction Watch, assistant professors of philosophy Tomasz Żuradzk and Leszek Wroński highlighted that three journals published by Addleton Academic Publishers are composed almost entirely of AI-generated articles. These journals follow a repetitive template filled with buzzwords like “blockchain,” “metaverse,” “internet of things,” and “deep learning.” Moreover, they share the same editorial board, which includes ten deceased members, and are registered at a nondescript address in Queens, New York, that turns out to be a house.

You might wonder why this is a significant issue. Isn’t dealing with AI-generated spam a regular part of internet life? While that might be true, these fake journals highlight how easily the systems used to evaluate researchers for promotions and hiring can be manipulated. This is a worrying signal for knowledge workers in other fields as well.

For instance, on CiteScore, a widely used evaluation system, these journals rank in the top 10 for philosophy research. This is achieved through extensive cross-citation among the fake journals. Żuradzk and Wroński discovered that out of 541 citations in one Addleton journal, 208 were from other fake publications by the same publisher.

These rankings significantly impact universities and funding bodies, influencing decisions on academic awards, hiring, and promotions. As Żuradzk and Wroński point out, this manipulation could alter researchers' publication strategies, affecting the academic landscape.

One could argue that the flaw lies with CiteScore as a metric. Indeed, its vulnerability to manipulation is apparent. However, it’s also clear that the misuse of generative AI is disrupting critical systems that people's careers depend on in unexpected and harmful ways.

There’s a potential future where we rethink and redesign systems like CiteScore to be more fair, comprehensive, and inclusive. Unfortunately, the current trajectory suggests a future where generative AI continues to cause chaos, endangering professional lives and the integrity of academic research.

We urgently need to address this issue before it causes more damage. Let’s hope for a swift course correction.

India has achieved a significant milestone in the deeptech sector, ranking sixth among the world's top nine deeptech ecosystems with 3,600 startups. According to a recent Nasscom report, these startups received $850 million in funding last year.

The report, created in collaboration with Zinnov, highlights that over 480 deeptech startups were established in 2023 alone, a number twice as high as in 2022. Out of these, more than 100 startups are inventive deeptech firms, noted for developing intellectual property or innovative solutions in emerging domains.

A notable trend is the focus on artificial intelligence, with 74% of the newly established deeptech startups concentrating on AI. This marks a significant rise from the 62% seen between 2014 and 2022.

Emerging deeptech companies in India include Agnikul, GalaxyEye, HealthPlix, Sarvam AI, and Peptris, which are innovating in healthtech, sustainability, AI, space-tech, and other fields.

“Areas such as AI, quantum computing, space-tech, and next-gen robotics are converging and being applied across various domains including education, entertainment, commerce, agriculture, industrial manufacturing, and mobility,” said Jeyandran Venugopal, Chair of the Nasscom DeepTech Council. He emphasized that India, with its robust talent pool and strong STEM foundation, is well-positioned to lead in this technological transformation.

While India ranks third in the overall technology startup ecosystem, it holds the sixth position specifically for deeptech startups. To elevate India to the top three in the deeptech ecosystem, Kritika Murugesan, Head of Nasscom DeepTech, identified key areas requiring support. These include access to patient capital, strong R&D partnerships with academia, and the implementation of the deeptech policy introduced in 2023.

The United Kingdom has emerged as the leading hub for generative AI (GenAI) startups in Europe and Israel, according to a study by venture capital firm Accel. The study, which analyzed 221 GenAI startups, found that 30% were founded in the UK, followed by 14% in Germany, and 13% in Israel. France and the Netherlands accounted for 11% and 6%, respectively.

Generative AI refers to artificial intelligence capable of producing text, images, videos, or other data based on models trained with extensive datasets. The UK's prominent position in this field is attributed to its top-tier universities, the formation of AI pioneer DeepMind in 2010, and substantial investments from US tech giants.

Despite the UK's leadership in the number of GenAI startups, French companies lead in funding, raising $2.29 billion compared to the UK's $1.15 billion. Notably, Paris-based Mistral, considered a significant European competitor to OpenAI, recently raised €600 million ($644 million), valuing the company at €5.8 billion.

Globally, GenAI startups secured over $25 billion in funding in 2023, with projections suggesting this figure will rise to around $45 billion in 2024, Accel reported.

Accel partner Harry Nelis noted that a deeper examination of these companies' origins reveals the primary GenAI talent hubs and the typical career paths of founders. A quarter of the startups have at least one founder who previously worked at major tech firms like Alphabet, Apple, Amazon, DeepMind, Meta, or Microsoft. Additionally, over a third of these founders have academic backgrounds.

The UK’s strong academic institutions, including the University of Cambridge, Imperial College London, University College London, and Oxford University, have educated a quarter of the GenAI startup founders, further solidifying the UK's position as a leading GenAI ecosystem.

A UK startup has leveraged artificial intelligence to discover a novel type of magnet that does not rely on rare earth elements, representing a significant breakthrough in material science.

Materials Nexus, based in London, employed a machine learning algorithm to evaluate and process over 100 million combinations of materials to identify a viable rare-earth-free magnet.

The result is a magnet dubbed MagNex by the startup. This permanent magnet, free from rare earth elements such as dysprosium and neodymium, can be produced more cost-effectively and with lower carbon emissions compared to current rare-earth-based magnets.

According to Materials Nexus, magnets are just the starting point. Their machine learning algorithm has the potential to identify combinations for a variety of materials, applicable in fields ranging from microchips to superconductors.

"AI-powered materials design will revolutionize not just magnetics, but the entire field of materials science," stated Dr. Jonathan Bean, CEO of Materials Nexus.

Materials Nexus was established by physicist Jonathan Bean in 2020. Since its inception, the startup has secured $5 million in venture capital and grant funding and is now poised to bring its advanced materials to the market.

Accelerating Materials Discovery Modern technologies, including electronics and electric vehicles, rely on thousands of different materials, many of which were discovered through extensive trial and error over many years.

However, AI enables researchers to virtually test millions of possible material combinations, greatly reducing the time and effort required. The design, synthesis, and testing of MagNex were completed in just three months.

"This innovative magnetic material was developed at an astounding speed," said Iain Todd, a professor at the University of Sheffield who contributed to the synthesis of MagNex.

Permanent magnets are essential components in various technologies, including EVs, wind turbines, robotics, and drones, and most currently depend on rare-earth metals. European demand for these metals is anticipated to increase five-fold by 2030.

However, the reliance on rare-earth metals makes supply chains vulnerable to disruptions. China holds the largest reserves of these metals, and with increasing geopolitical tensions, Europe's dependence on China for rare-earths poses significant risks.

The EU's Critical Raw Materials Act, which recently came into effect, aims to reduce the bloc's dependence on foreign sources of materials, including rare-earth metals. Nonetheless, the ultimate goal is to create magnets that do not require rare-earth elements at all.

Safe Superintelligence aims to be the world’s first “straight-shot” superintelligence lab. Artificial Intelligence CREDIT: JUST_SUPER Ilya Sutskever, the influential former chief scientist of OpenAI, has revealed his highly anticipated new venture—Safe Superintelligence Inc (SSI)—a company focused on developing safe and responsible AI systems.

This announcement follows months of speculation after Sutskever’s departure from OpenAI, where he reportedly had disagreements with leadership, including CEO Sam Altman, over safety concerns.

SSI, as detailed by Sutskever, is committed to creating safe and powerful artificial intelligence. “We approach safety and capabilities in tandem, as technical problems to be solved through revolutionary engineering and scientific breakthroughs,” Sutskever wrote in the announcement. “We plan to advance capabilities as fast as possible while making sure our safety always remains ahead.”

This indicates that SSI aims to prioritize safety while aggressively advancing AI development.

“There is immense potential and the right intentions in SSI’s focused approach,” said Subrat Parida, an AI expert and former CEO of Racetrack AI. “Different nations need to define boundaries and establish compliance through global policies. Currently, unethical AI practices are being used for illegal purposes, making ‘safety’ seem like a mere buzzword. I hope SSI can set meaningful standards.”

Safety Over Commercial Success SSI aims to set itself apart from established AI giants like OpenAI, Microsoft, and Apple by avoiding the “pressure of management overhead and product cycles.”

“Our business model means safety, security, and progress are all insulated from short-term commercial pressures,” Sutskever said in the announcement. “This way, we can scale in peace.”

This independence, along with a business model designed to prioritize long-term safety, suggests SSI might adopt a more deliberate approach compared to the rapid developments seen in the AI sector.

“SSI’s dedicated focus on safety has the potential to be a transformative force, pushing established AI players to prioritize responsible development alongside achieving ground-breaking results,” said Prabhu Ram, head of the Industry Intelligence Group at CyberMedia Research. “This could lead to a future where advancements in AI are not only impressive but also achieved ethically and with well-defined guardrails in place.”

Sutskever is not alone in his mission. He is joined by Daniel Gross, a former AI lead at Apple, and Daniel Levy, who previously worked with OpenAI, according to SSI.

Currently, the company operates from two offices—in Palo Alto and Tel Aviv—where it claims to have “deep roots and the ability to recruit top technical talent.”

This development follows Sutskever’s departure from OpenAI in May after leading the effort to oust CEO Sam Altman. His exit hinted at new ventures, which have now materialized with the founding of SSI. Sutskever’s departure was soon followed by resignations from other OpenAI researchers, including Jan Leike and Greten Krueger, who cited safety concerns.

Both researchers announced their departure from OpenAI on social media platform X.

Leike, who cited that “safety culture and processes have taken a backseat” at the ChatGPT creator, eventually joined Anthropic last month, stating his new focus will be on “scalable oversight, weak-to-strong generalization, and automated alignment research.”

The newly established SSI is positioned as the world’s first “straight-shot” superintelligence lab, according to the announcement. The company plans to recruit top technical talent to tackle what Sutskever describes as “the most important technical problem of our time.”

“Now is time. Join us,” he urged in the announcement.

With the launch of SSI, the race for safe and powerful artificial intelligence enters a new phase. Sutskever’s experience and the team he has assembled position SSI as a major player in this critical field. Whether they can achieve their ambitious goals remains to be seen, but their focus on safety marks a significant step forward in the responsible development of artificial general intelligence.

“We are still in the early innings of artificial intelligence. We have a long way to go in terms of responsible adoption, establishing safety norms, and building adequate guardrails. In this context, Ilya Sutskever’s Safe Superintelligence (SSI) has the potential to be a transformative force in the evolving AI landscape,” CyberMedia Research’s Ram said.

Climate-focused food tech companies in Europe raised $2B last year, accounting for 58% of global investment in the sector and surpassing the US for the first time.

European food tech startups dedicated to climate change solutions attracted $2B in investments in 2023, marking the first time they have overtaken the US. Despite a global downturn in venture capital funding, investments in this sector matched the 2022 levels, when European companies raised $2.1B.

This information comes from the annual Food for Climate report by early-stage VC firm FoodLabs and investment database Dealroom, which evaluated over 1,200 climate-centric food startups across 40 segments to assess the state of the sustainable food and agtech ecosystem in Europe. The report indicates that European food tech companies represented 58% of global funding in the industry, significantly higher than the US, which accounted for around 36%.

Agtech Sector and Sustainable Fertilisers The agtech sector comprised $1B of this total, largely due to increased interest in sustainable fertilisers, with Atlas Agro raising $325M for its renewable fertilisers. Regenerative agriculture startups secured $581M overall, focusing on climate-resilient crops and microbial solutions.

“To address some of Europe’s most pressing challenges, we urgently need to finance and support innovative food solutions that help us adapt to a changing climate and mitigate its effects while securing our food supply,” said Christophe F Maire, founding partner at FoodLabs.

Fermentation Startups and Alternative Cocoa on the Rise in Europe In 2023, European alternative protein startups raised $365M, led by plant-based companies. However, fermentation startups were the real stars, experiencing a 12-fold increase since 2020 to reach $76M in investments last year.

This year, fermented protein players have raised at least $12M, making them the third most-funded segment in Europe’s alternative protein sector, ahead of plant-based startups. Specifically, mycelium protein has seen significant growth in 2024.

Maire anticipates fermentation startups will continue to dominate over the next two to three years. “Driven by the growing maturity of the space, many startups are turning to grownups and raising growth rounds for commercialisation at Series B stage and beyond,” he told Green Queen. “We also see products that are inherently superior to plant-based approaches in terms of taste and texture, and are close to price parity.”

Investment Trends in Alternative Proteins Meat analogues remain the most attractive protein segment for investors, making up over 70% of investments in Europe last year. Their dominance is expected to continue this year, with a projected share of 56%. Conversely, alternative dairy startups have seen a sharp decline, dropping from 60% of the sector’s capital injections in 2020 to a forecast of less than 1% for 2024.

These trends are influenced by the rise in egg substitutes, projected to account for nearly 30% of alternative protein funding this year, and alternative fats and oils (13%). Startups addressing the cocoa and coffee industries have also gained traction in response to rising prices and climate concerns.

Alternative cocoa companies received $69M in 2023, doubling the previous year's capital. “The space has been overlooked but is gaining prominence for three key reasons,” Maire said. These include the environmental impact (dark chocolate is the second most polluting food group due to land use), ethical considerations (due to child labour in the value chain), and price fluctuations (with cocoa prices reaching an all-time high this year).

“We believe that the emerging bioeconomy and scientific breakthroughs have the potential to solve some of the biggest food and climate issues,” said Patrick Noller, general partner at FoodLabs. “Many companies are pioneering efficient, cost-effective, and eco-friendly proteins and alternative ingredients through precision fermentation, biomass fermentation, molecular farming, and cell culture.”

France Leads Investments, but Regulatory Barriers Need Addressing Apart from alternative proteins, European food waste startups attracted $138M in funding last year, a 20% increase from 2022. Sustainable packaging companies received $70M (a 46% year-on-year hike), and biomaterial producers raised $41M (a 238% increase).

Overall, the climate-focused food tech sector was the second-best performing category across European industries in 2023, representing just a 2% decline in investments, behind only the energy industry (which saw a 16% increase). On average, the continent experienced a 37% drop in VC financing.

The UK leads as a climate-food tech hub, hosting 18% of the sector’s startups in Europe, followed by the Netherlands (14%), and France and Germany (12% each). However, French companies received the most capital ($416M), even after a 29% dip from 2022. Switzerland ($354M) and the UK ($239M) followed, with significant gains made by Belgium, Norway, and Iceland.

The EU-backed European Innovation Council Fund has been the most active pre-seed investor since 2016, making 33 investments in the climate-centric food tech space. This is closely followed by Blue Horizon Corporation (30) and state-owned bank Bpifrance (26). Belgium’s Astanor Ventures (18) and France’s Demeter Partners (17) lead in Series A+ rounds.

Despite the successes of 2023, projections for 2024 suggest a return to pre-pandemic levels ($1.1B), with the US expected to overtake Europe again. This is mainly due to the absence of mega-rounds like Atlas Agro’s. “The global venture [capital] industry is still in transition after the outlier years of 2020-21, a shift in monetary policy, and higher interest rates,” said Maire. “We don’t expect global investment to increase in 2024, but we do expect a return to baseline.”

Startups will also have to navigate a reshuffled EU parliament, with the rise of the far-right raising concerns about the bloc’s climate ambitions. “The EU already does a tremendous job of funding innovation through many direct and indirect programmes,” explained Maire. “However, it could simplify and standardise some of the regulatory hurdles – for example, for alternative protein companies.”

The EU’s current novel foods framework has left it trailing behind other governments – the US, Singapore, and Israel have already approved cultivated meat for sale, while the UK is on the verge of doing so after announcing it will break away from pre-Brexit regulations. In contrast, Italy has banned the production and sale of cultivated meat, and France and Romania are considering similar measures.

Canadian venture capital (VC) reached $1.38 billion* in Q1 2024, showing minimal change from Q4 2023 and Q1 2023.

The investment landscape for Q1 2024 can be summarized by three key sectors: PIPE (Private Investment in Public Equity), Biotech, and US Mutual/Hedge Fund.

PIPE Dominates Five PIPE financings contributed $480 million, representing approximately 35% of the total investment.

Early-Stage Investments Lead Early-stage financings continued to dominate, raising $603 million or 44% of the total.

Biotech Surpasses IT Biotech saw a significant increase driven by two large PIPE deals, securing $622 million, outpacing IT investments of $310 million, financial companies at $197 million, and cleantech at $162 million.

US Mutual/Hedge Fund Takes Lead US mutual funds and hedge funds invested $437.84 million primarily in biotech PIPE financings, replacing traditional US VC investments.

Top Investor Types

• US Mutual/Hedge Fund: $438 million
• US Private VC: $228 million
• CDN Government: $112 million
• CDN Private VC: $97 million
• US Corporate VC: $93 million
• International Private VC: $85 million
• US Private Investors: $58 million
• CDN Family Offices: $57 million
• CDN Private Investors: $39 million
• CDN Corporate VC: $35 million

Together, these top 10 investor types accounted for 90% of the total investments in Q1 2024.

Other Highlights of Q1 2024

Provincial Breakdown Companies from Ontario led with $733 million, followed by Quebec with $346 million, BC with $212 million, Alberta with $81 million, and New Brunswick with $11 million.

Company Size Companies with 0-49 employees raised $1,193 million, making up 86% of the total. Companies with 50-99 employees raised $33 million, while those with 100-499 employees raised $157 million. No funding was raised by companies with 500+ employees.

VC Fundraising VC fundraising rebounded with 17 funds raising $745 million in Q1 2024, with 11 private VC funds leading with $693 million raised.

"In Q1 2024, 74% of VC investments originated from international sources, predominantly from the US. This marks a historically low domestic contribution to Canadian VC, signaling potential structural weaknesses in the industry. The April 16 federal Budget, allocating a mere $200 million to the industry, did not address this concern. Additionally, while $1.38 billion was invested, Canadian VC funds raised only $745 million, meeting just half of the demand for VC capital in the quarter. On a positive note, biotech investments, largely fueled by US and international funds, reached a record high compared to other sectors such as IT and fintech."

*All dollar ($) figures in Canadian dollars unless otherwise specified.

The European Innovation Council (EIC) has announced €285 million in funding for a select group of 42 deep-tech start-ups following the final 2023 EIC Accelerator cut-off in November. This funding round, highly competitive with 1083 full proposals submitted, saw the selection of companies spanning 15 countries, including Spain, Finland, Slovakia, and Bulgaria.

The chosen companies, like Alias Robotics from Spain pioneering AI-powered security platforms for robots, IQM Finland developing industrial-grade quantum computers, and Powerful Medical from Slovakia innovating in heart attack diagnosis applications, will benefit from a blend of grants and equity investments facilitated through the EIC Fund. This approach not only supports innovation but also attracts additional investors, tripling the initial EIC investment on average.

"Investing in cutting-edge technologies is crucial for driving Europe's innovation agenda forward," said a spokesperson from the EIC. "These grants, combined with equity investments, empower start-ups to accelerate their development and bring transformative solutions to market."

The funding allocation, structured to disburse grant financing within two to three months and initiate equity investments based on immediate company needs, underscores the EIC's commitment to fostering technological breakthroughs across Europe. Companies awarded the Seal of Excellence, though unable to secure immediate funding, will receive support to access alternative financing sources.

The EIC Accelerator, known for its comprehensive support framework including Business Acceleration Services, remains pivotal in nurturing entrepreneurial growth. With over ten thousand start-ups submitting ideas since its inception in 2021, the EIC continues to be a catalyst for driving innovation and competitiveness on a global scale.

For further details and upcoming funding opportunities, interested parties are encouraged to visit the EIC website

We are thrilled to announce that applications for this year's Pitch Competition at the FutureTravel Summit are officially open! The fourth edition of the FutureTravel Summit will be held in Barcelona on November 28th, gathering approximately 450 travel innovators, startups, investors, industry leaders, and influencers from across the globe. Set against the backdrop of Barcelona, renowned for its rich travel and tourism heritage, this summit provides a premier platform for travel professionals to convene, share insights, discuss business strategies, and explore the latest global trends shaping the travel industry.

The Pitch Competition This competition presents an exceptional opportunity for early-stage travel startups looking to leave a significant mark in the travel and hospitality sectors. Participants will showcase their innovative solutions and ideas before a distinguished panel of venture capital investors, industry leaders, and influential figures within the travel industry.

We are seeking applications from 10 early-stage startups that meet the following criteria:

• Focus on travel and/or hospitality
• Pre-seed or seed stage
• Founded within the last 3 years

Does this sound like your startup? Don’t miss the chance to elevate your travel startup to new heights. Submit your application here by July 20th, 2024.

What’s in it for You? In addition to invaluable exposure and feedback from industry experts, the winning startup team will receive a prize package valued at approximately €330K, including:

• Up to $350,000 in Google Cloud credits, along with 1 year of free Google Workspace and dedicated support
• €9.9k in credits for an explainer video maker account from simpleshow
• €2k worth Exhibition Booth at the EU-Startups Summit 2025, including 3 event tickets
• €2.2k for a 1-year Guru Plan on SEMrush, offering access to their SEO and online visibility management platform

The winning startup will also be prominently featured in the FutureTravel Newsletter and highlighted across EU-Startups and other leading publications.

The Jury Participants will receive invaluable feedback from a distinguished jury comprising renowned venture capital investors such as:

• Ludger Kübel-Sorger, ROCH Ventures
• Jose Gaytan de Ayala, Kinnevik
• Virginia Bassano, Eight Roads

Participating in this competition provides startups with a unique opportunity to gain insights and mentorship from leading figures in the venture capital community, essential for refining business strategies and achieving significant growth!

For further details and to submit your application, visit here.

The startup funding landscape of 2024 has evolved significantly, characterized by a shift towards cautious investment practices and a focus on sustainable growth. Here are essential strategies to navigate this new terrain and secure angel investment:

Understanding Investor Motivations

Angel investors in 2024 are motivated by several key factors:

• High Returns: 61% seek potential for significant financial gains.
• Portfolio Diversification: 40% aim to spread risk across different investments.
• Access to Innovation: 39% are interested in being part of cutting-edge developments.
• Hands-On Involvement: 34% wish to actively contribute to the success of the ventures they fund.

Additionally, there is a rising trend towards socially and environmentally conscious investing, with 72% of investors prioritizing positive impact alongside financial returns. Startups must align their mission and narrative to resonate with these values.

Crafting a Compelling Narrative

Highlight Positive Impact: Beyond showcasing a product or service, emphasize how your startup addresses societal or environmental challenges. Whether in fintech, healthcare, AI, or other sectors, articulate the transformative potential of your innovation.

Avoiding Common Pitfalls

Overvaluation: 31% of investors caution against unrealistic valuations. Adjust expectations to reflect market realities. Inadequate Market Research: 18% highlight the importance of thorough market understanding. Present a clear picture of your target market, competitors, and industry trends.

Strategic Advice for Startups

• Adjust Valuations: Be flexible and realistic in valuation discussions.
• Plan Longer Fundraising Periods: Anticipate extended timelines due to cautious investor sentiment.
• Consider Smaller Funding Rounds: Opt for incremental funding stages to demonstrate financial prudence and steady growth.

Key Traits Investors Seek in Founders

• Clear Value Proposition: 77% prioritize understanding the problem your startup solves and its unique value proposition.
• Passion and Commitment: 57% value founders who exhibit unwavering dedication and a compelling vision.
• Strong Leadership: 46% look for leadership capable of steering the company towards its goals.
• Defined Mission: 57% seek alignment between a startup’s mission and its positive impact goals.

Building Strong Relationships

Effective Communication: Regular updates (preferred monthly by 53% of investors) foster trust and engagement. Treat investors as long-term partners in your business journey.

In conclusion, securing angel investment in 2024 demands a strategic approach that integrates financial viability with a compelling narrative of positive impact. By aligning with investor motivations, demonstrating strong leadership, and maintaining transparent communication, startups can navigate the evolving fundraising landscape and propel their innovations to success. This structured approach will help startups effectively position themselves to secure angel investment in a competitive and evolving funding environment.

In 2021, Europe's tech ecosystem soared, surpassing $100 billion in VC funding for the first time. However, by 2023, this figure had halved to $45 million, reflecting broader economic challenges. Despite this downturn, specific regional markets tell a more nuanced story of resilience and growth potential.

France's Strategic Advancements

France has shed its bureaucratic reputation, emerging as a beacon of support for startups. Government initiatives, such as Bpifrance's substantial investments in early-stage funding, have cushioned the impact of funding declines seen elsewhere in Europe. Expect heightened competition in France's funding landscape, buoyed by recent raises and robust investor interest, including from prominent figures like Xavier Niel.

Key Technologies: AI leads the charge, bolstered by local giants like Mistal AI and advancements in fintech and climate tech.

Germany's Technological Vision

Despite economic challenges in 2023, Germany shines in frontier technologies, particularly AI. Massive funding rounds for German AI firms underscore a thriving ecosystem supported by strategic state investments through entities like the Future Fund and KfW Capital. Startups eyeing German funding should align with national priorities, ensuring a fit with Germany's public sector and technology mandates.

Key Focus Areas: Renewable materials and advanced green technologies are pivotal.

EU's AI Talent and Market Opportunities

Europe, spurred by developments like OpenAI's ChatGPT, is cultivating a competitive edge in AI. Unlike the U.S., where AI talent demand has driven soaring salaries, Europe benefits from a more distributed growth, offering reasonable compensation and a robust talent pool, particularly from Eastern EU countries. Favorable visa requirements further enhance Europe's appeal for AI startups.

Future Outlook

Europe leads in tech founder growth, fueled by strategic government support and thriving ecosystems in France and Germany. As AI continues to dominate, European startups are poised to seize growth opportunities, leveraging strong tech foundations and favorable market conditions.

Conclusion

Europe's tech landscape is evolving with resilience and strategic foresight, positioning itself as a global leader in emerging technologies. With AI at the forefront, supported by robust government initiatives and a talented workforce, Europe's tech future looks promising.

In the dynamic landscape of tech startups, achieving rapid and sustainable growth is paramount. Yet, as the availability of venture capital (VC) funding fluctuates, it's crucial for founders to adopt strategies that balance expansion with financial prudence. Drawing from my own experiences navigating Bounce through pivotal stages, here are essential scaling strategies tailored for today's economic climate:

Prioritize Profitable Growth

Focus on profitability as the cornerstone of your scaling strategy. Rather than solely pursuing market share, emphasize sustainable revenue streams and positive unit economics. This approach not only reduces reliance on external funding but also fortifies your company against market uncertainties, ensuring long-term viability.

Embrace Lean Operations

Adopt a lean startup mentality to optimize resources and minimize expenditures. Identify and eliminate inefficiencies across all business functions—from product development to operational processes. Embrace agile methodologies to iterate swiftly, prioritize high-value features, and achieve tangible outcomes with minimal resources.

Harness Bootstrapping Techniques

Utilize bootstrapping methods to fund initial growth without external investment. Whether through personal savings, early product sales, small business loans, or crowdfunding, bootstrapping instills financial discipline and showcases your company's resilience to potential investors.

Monetize Early and Strategically

Initiate monetization early in your product development phase. Experiment with various revenue models—such as subscriptions, freemium offerings, or partnerships—to refine your monetization strategy based on user feedback and market dynamics. Early revenue generation validates market demand and accelerates financial independence.

Focus on Customer Value

Prioritize customer satisfaction and retention to drive sustainable growth. Deliver exceptional value, personalized experiences, and robust customer support to foster loyalty and long-term relationships. Strong customer relationships not only bolster revenue but also attract investor confidence.

Forge Strategic Partnerships

Collaborate with complementary businesses to amplify your market reach and accelerate growth. Leverage joint marketing initiatives, co-development projects, or distribution partnerships to access new markets and diversify revenue streams. Strategic alliances provide invaluable resources and expertise critical for scaling.

Optimize Marketing Efficiency

Maximize ROI from marketing investments by leveraging data-driven analytics and automation tools. Target high-value customer segments, optimize conversion funnels, and monitor campaign performance in real time. Cost-effective channels like content marketing and SEO enhance organic growth and customer acquisition.

Design for Operational Scalability

Plan business operations with scalability in mind, leveraging scalable infrastructure and cloud technologies. Streamline workflows, standardize processes, and empower your team with scalable tools to accommodate increased demand efficiently.

Scaling a tech startup amidst fluctuating capital availability demands a balanced approach that integrates growth ambitions with financial sustainability. By prioritizing profitability, operational efficiency, and strategic partnerships, founders can navigate market challenges effectively while positioning their companies for long-term success. Building a resilient and profitable venture not only safeguards against economic uncertainties but also enhances attractiveness to future investors.

Today marks the launch of the African Vaccine Manufacturing Accelerator, a significant initiative aiming to invest at least $1 billion over the next decade to ensure a robust vaccine supply against major diseases worldwide.

Recent reports of the first death from laboratory-confirmed H5N2 bird flu and the ongoing spread of H5N1 in animals serve as stark reminders that new infectious threats are inevitable. The question is not if, but when and where, the next outbreak will occur. As leaders in global health and sustainable development, we understand the profound impact infectious disease outbreaks can have on health, well-being, and economic prosperity, especially for the most vulnerable populations.

Ongoing negotiations for an international pandemic accord are essential, but we must also continue taking concrete steps—at national, institutional, and multilateral levels—to improve our preparedness, prevention, and response to outbreaks and other public health emergencies.

Since 2005, the World Health Organization has declared seven public health emergencies of international concern, all due to infectious disease outbreaks. Except for the 2015-2016 Zika virus epidemic, vaccines have been crucial in controlling these emergencies. The COVID-19 pandemic highlighted the devastating consequences of delayed vaccine availability, with each day without an effective vaccine costing lives and livelihoods.

This is why France and Team Europe, the African Union via the Africa Centres for Diseases Control and Prevention, and Gavi, the Vaccine Alliance, are collaborating with other stakeholders to establish mechanisms for rapid and equitable access to safe and effective vaccines during outbreaks, epidemics, and pandemics.

Achieving rapid and equitable vaccine access during public health emergencies requires two key elements: sufficient financing that can be quickly mobilized and an adequate vaccine supply.

Gavi already supports vaccine stockpiles for diseases like yellow fever, cholera, meningitis, and Ebola, and works to ensure a stable and sustainable vaccine supply to meet anticipated demand. However, what happens when demand exceeds supply?

The COVID-19 pandemic exemplified the issue of demand outstripping supply, with vaccine access inequities worsened by the concentration of manufacturing capacity in a few regions. International partners, including WHO, Gavi, the European Union, and France, established COVAX, a unique vaccine solidarity mechanism, through which Gavi delivered 2 billion doses. Yet, COVAX was not a cure-all, and vaccine inequity was acutely felt in Africa—a continent that produces only 0.1% of the world’s vaccines but accounts for nearly 20% of the global population.

In response, we have developed the African Vaccine Manufacturing Accelerator (AVMA), an innovative solution to stimulate investment across Africa’s vaccine value chain. AVMA aims to invest at least $1 billion over the next 10 years to enhance global vaccine supply security against key diseases.

AVMA offers incentives to boost the supply of critical vaccines, such as those for cholera, yellow fever, and Ebola, while encouraging investments in manufacturing capacities that can be quickly adapted to produce vaccines against emerging pandemic threats. It does this by providing initial lump-sum payments and time-limited “accelerator payments” to manufacturers with prequalified priority vaccines.

Creating a sustainable African vaccine manufacturing ecosystem will require a multistakeholder effort and significant political will.

Ultimately, AVMA will support the African Union’s goal to produce 60% of the vaccines used in Africa by 2040 and potentially foster the growth of a high-value, high-skill, and high-wage sector in the economy.

AVMA is a key component of Africa CDC’s Partnerships for African Vaccine Manufacturing Framework for Action, which aims to establish a strong and sustainable vaccine manufacturing ecosystem. This framework includes training the necessary workforce, enhancing research and development, supporting African National Regulatory Authorities, addressing raw material supply chain issues, and creating an African Pooled Procurement Mechanism.

AVMA and other initiatives, such as the $2.5 billion Day Zero Financing Facility, are part of a comprehensive strategy to strengthen global and regional vaccine supply chains. Building a sustainable African vaccine manufacturing ecosystem will be a long-term endeavor, requiring a true multistakeholder effort and substantial political will to ensure that demand for African vaccines supports African production.

As global leaders convene in Paris today for the Global Forum for Vaccine Innovation and Sovereignty, AVMA will be launched alongside Gavi’s investment opportunity for the alliance’s next strategic period through 2030. The message is clear: investing in the vaccine alliance is an investment in a more equitable, inclusive, and coherent global health emergency preparedness and response architecture. It is an investment in one of the most effective public health solutions: vaccination. It is an investment in our future.

Nvidia, in partnership with Singaporean ecosystem builder Tribe and the government agency Digital Industry Singapore, has unveiled the Ignition AI Accelerator, a new program aimed at boosting AI-focused startups in Singapore.

The Ignition AI Accelerator will invest $3 million in this initiative, selecting 15 promising Singaporean AI startups for its inaugural four-month cohort. Participants will receive business and technical support to advance their AI development and commercialization efforts.

Key components of the program include training workshops developed collaboratively by Nvidia and Tribe, as well as potential funding through Enterprise Singapore’s Startup SG Tech grant. Additionally, Nvidia and Tribe will assist startups in gaining accreditation from Singapore’s Infocomm Media Development Authority, enabling them to bid for government and large enterprise contracts.

Chan Ih-Ming, executive director and head of Digital Industry Singapore, highlighted the significance of the accelerator: “The accelerator showcases Singapore’s strengths as a confluence of global technology leaders, emerging innovators, and world-class infrastructure.”

The Ignition AI Accelerator exemplifies the strategic collaboration between leading tech companies and government entities to foster innovation and drive the growth of AI startups in Singapore.

TCLtv+, the streaming service from the Chinese electronics giant TCL, known for owning the TCL Chinese Theatre, has announced a new AI-centric accelerator program for film and television creators. This initiative, called TCL Film Machine, aims to support creatives in developing their projects with advanced AI tools.

The TCL Film Machine program will offer development, financial, and production assistance to participating creators, with an initial group of five entrants this year. Grants start at $25,000 but may increase based on the talent and scope of the project.

“With the rapid growth of AI, there's a pressing need for creatives to harness these tools to enhance storytelling,” stated TCLtv+, which recently launched a production studio to support these projects. A global production team comprising animators, VFX experts, and AI engineers will collaborate with producers, writers, and actors in the program to create high-quality content

Dave Clark, an early adopter of AI in filmmaking, will serve as a key advisor for the program. Known for his work with major brands like Snapchat, Hewlett Packard, and Intel, and his collaborations with prominent figures such as Michael Ealy, George Clooney, and the late Michael K. Williams, Clark brings a wealth of experience and a passion for AI’s potential in creative fields.

While AI in entertainment is a hotly debated topic, Clark believes it empowers creators by expanding their storytelling toolkit.

The first cohort of the accelerator will have access to cutting-edge AI tools and technology, a team of animators, a dedicated budget, and a platform for showcasing their work through TCL Chinese Theatres and TCLtv+. Applications, open from June 20 to July 20, are free, and mid-level or above creators in TV and film are encouraged to apply. The program seeks experienced filmmakers in short or long-form storytelling who are eager to explore AI to realize their visions.

“There is currently no established pathway for professional AI film and television production. We aim to nurture and grow the AI creative community,” said Chris Regina, TCL’s chief content officer. “The interest and excitement around AI’s potential in the creative industry are immense, and we want to drive that growth by providing access and opportunities.”

Although the program starts with five projects, TCL Film Machine may support additional projects based on demand and potential.

TCLtv+ Studios has several series and specials in development, including both AI-driven and traditional scripted and unscripted projects. The collaborations extend beyond the TCLtv+ Studios team, involving guild writers, actors, and key Hollywood talent. In April, TCLtv+ Studios premiered a trailer for its first AI love story, "Next Stop Paris."

The ILO 8.7 Accelerator Lab brings together a diverse group of innovators from various countries and projects within the Fundamental Principles and Rights at Work branch to implement the ILO Strategy on Knowledge and Innovation.

The United Nations Secretary-General, Antonio Guterres, emphasized, “Innovation is about being much more effective and at the scale that is necessary to benefit the people the United Nations serves.”

In 2023, the ILO introduced its Strategy on Knowledge and Innovation, focusing on four strategic priorities: (i) enhancing internal capacity for knowledge management and innovation across the ILO; (ii) promoting innovative policies, products, and services to achieve decent work and social justice; (iii) forming partnerships to support innovation in the world of work; and (iv) fostering a culture of knowledge and innovation.

With the increasing prevalence of child and forced labor, the UNSG's call to better equip the ILO to address global challenges and support Member States in achieving the SDGs is crucial.

The 8.7 Accelerator Lab is driving a paradigm shift within the Fundamental Principles and Rights at Work Branch by piloting and scaling innovative ideas and successful projects. This initiative aims to combat the rising trends in child and forced labor and advance towards achieving Target 8.7 of the Sustainable Development Goals. The Lab supports both intervention-level innovation through project activities and system-level innovation to promote broader changes within the branch.

How the 8.7 Accelerator Lab Came About

Launched in 2021 in response to the global increase in child labor from 152 million to 160 million children, the 8.7 Accelerator Lab is the first initiative of the Fundamental Principles and Rights at Work Branch to optimize both what the ILO does and how it does it to support constituents and partners in achieving SDG Target 8.7. The Lab aims to pilot, identify, and scale innovative solutions to end human rights abuses at work globally while also improving internal processes.

At the intervention level, the 8.7 Accelerator Lab focuses on optimizing development cooperation interventions through six acceleration factors, with innovation and knowledge sharing at the core. The key difference between invention and innovation is whether the innovative solution is scaled to improve lives. Every good practice on child and forced labor identified by the ILO should be shared across the branch, which is where the system level comes into play.

The Accelerator Lab’s Multi-Partner Fund provides flexible funding to carry out new pilots and scale successful ones. A harmonized approach to project management and evaluation facilitates knowledge sharing and helps identify and respond to opportunities and gaps.

Innovative Approaches to Development Cooperation

In December 2023, the 8.7 Accelerator Lab organized a Design Thinking Workshop in collaboration with the ITCILO Innovation Lab. Innovators from various countries gathered to:

• Define innovation categories relevant to Fundamental Principles and Rights at Work.
• Identify potential innovative solutions to reduce child and forced labor.
• Explore traditional and non-traditional knowledge-sharing systems.
• Strengthen the strategy for scaling up innovative solutions.

The ultimate goal is to enhance innovation across the Fundamental Principles and Rights at Work in an integrated manner. The network of innovators is now implementing these tools and fostering an enabling environment within the branch.

Future Vision

The 8.7 Accelerator Lab’s vision for innovation is built on three pillars, with promising activities planned under each:

1. Improved Targeting of Innovative Solutions: Supporting concrete innovative projects and ideas within or across projects in the Branch.
2. Innovative and Integrated Knowledge Sharing Systems: Developing an integrated and adaptable Knowledge Sharing System on FPRW to innovate based on lessons from other projects.
3. Evidence-Based Systems for Scaling Up: Creating an Evidence-Based Tool for Scaling Up to foster learning and accommodate failures.

For these efforts to succeed, an enabling environment is essential. The 8.7 Accelerator Lab believes that supporting system-level change at the branch level will ensure that all innovations can be scaled up to achieve decent work.

A recent study by a tech advisory firm forecasts that AI will generate $280 billion in economic benefits for Australia by 2030. Responding to this immense potential, Google has introduced a new AI-first accelerator tailored for Australian entrepreneurs.

Startup founder Gonzalo Sisack Novillo, previously leading a pet-focused company in Argentina, experienced significant growth after participating in Google’s Latin American Accelerator. Now boasting 30 employees and a virtual veterinary care app across Latin America, Sisack Novillo’s success story highlights the impact of Google’s global accelerator network.

Until now, this opportunity has not been available in Australia, where Google has now launched a 10-week equity-free accelerator program. Aimed at seed and series A stage startups specializing in AI and machine learning-driven platforms, the initiative aims to propel local innovations to global prominence.

Scott Riddle, Google’s head of partnerships in Australia and New Zealand, elaborated on the initiative: “Google Australia’s Digital Future Initiative brings the AI First accelerator to Australia for the first time, connecting founders with Google’s AI and ML expertise, global networks, and essential business practices.”

Initially launched in the US and Canada earlier this year, the Australian program is part of Google’s broader $1 billion investment in Australian research and infrastructure under the Digital Futures Initiative.

The AI Opportunity in Australia

The launch of this program coincides with heightened awareness of AI’s transformative potential across various sectors. According to a report by Access Partnership, AI could prevent $6.7 billion in cybercrime losses by 2030 and significantly enhance Australia’s response to climate change-induced disasters.

Despite concerns about data privacy, the report underscores AI’s role in fostering positive transformations across industries.

Application Details

Google Australia invites startups meeting the following criteria to apply for its AI-first accelerator:

• Demonstrated traction, operating between Seed to Series A stages.
• Deep technical expertise in machine learning and AI, led by dedicated AI specialists.
• Developing scalable products or services with a substantial total addressable market (TAM) and defensible growth strategies.
• Commitment from CEO, CTO, or executive leadership to actively participate in the 10-week program sessions.

Entrepreneurs selected for the program will benefit from mentorship, technical support, and workshops on product design, customer acquisition, and leadership.

Applications for the inaugural cohort are open from June 17 to July 31, marking a significant opportunity for Australian startups to leverage Google’s expertise and global network in advancing AI innovations.

CV Labs, a prominent Web3 startup accelerator, has officially opened applications for Batch 07 of its program, inviting aspiring entrepreneurs to join its dynamic cohort. Following the success of Batch 06, which concluded recently with a Demo Day showcasing innovative projects, CV Labs aims to continue nurturing blockchain-based solutions with its latest initiative.

"The accelerator offers the tools, resources, and network you need to propel your startup towards success," CV Labs announced on its LinkedIn channel. Participants in Batch 07 can expect:

• Global Network: Integration into a vibrant ecosystem of industry leaders, investors, and potential collaborators.
• Expert Mentorship: Guidance from 10 dedicated mentors with expertise across various domains crucial for startup growth.
• Hybrid Learning: A flexible learning experience combining comprehensive online courses with intensive in-person bootcamps, fostering a strong community spirit.
• Funding Opportunities: Access to funding of up to $150,000 USD, aimed at fueling project development and achieving significant milestones.

Previous cohorts have included impactful African startups like Shamba Records from Kenya and Jamit from Nigeria. Shamba Records specializes in real-time data collection tools to enhance credit access for farmers, featuring a farmer’s wallet for streamlined credit processing. Meanwhile, Jamit offers a decentralized podcast hosting platform with features like cloud storage, global reach, engagement rewards, and unique NFT experiences for creators and listeners.

Applications for Batch 07 close on July 19, 2024. Entrepreneurs passionate about Web3 innovation are encouraged to seize this opportunity to join a diverse cohort and contribute to shaping the future of blockchain technology.

Apply now and learn more about CV Labs Accelerator program: CV Labs Accelerator Program

Breega, a rapidly expanding early-stage investment firm based in Europe, has introduced its inaugural African fund, "Breega Africa Seed I," aimed at becoming a premier investor in early-stage African startups.

Founded in Paris with additional offices in London and Barcelona, Breega has accumulated assets under management totaling $700 million since its first fund closure in 2015. Over the years, it has invested in more than 100 startups spanning 15 countries.

The launch of "Breega Africa Seed I" marks a significant expansion for Breega, which has established new offices in Lagos, Nigeria, and Cape Town, South Africa. The $75 million fund will focus on investments across key African markets, including Nigeria, Egypt, South Africa, Kenya, as well as French-speaking countries such as Morocco, Senegal, Ivory Coast, Cameroon, and the Democratic Republic of Congo (DRC).

Breega plans to provide funding ranging from $100,000 to $2 million per startup, positioning itself as the lead investor. It will prioritize ventures that drive high-impact and sustainable innovations aligned with the United Nations' Sustainable Development Goals (SDGs). Target sectors include agri-tech, ed-tech, e-health, fintech, insurtech, prop-tech, and logistics.

The fund has already made initial investments in several prominent African startups, benefiting from Breega's in-house scaling team. Notable beneficiaries include Numida, Socium, Klasha, Kwara, Coachbit, and Sava.

Leading the charge for the new fund are Melvyn Lubega, co-founder of digital education unicorn Go1, overseeing activities in Eastern and Southern Africa from Cape Town, and Tosin Faniro-Dada, former CEO of Endeavor in Nigeria, managing operations across West and North Africa. Faniro-Dada brings extensive experience, including her tenure as a board member of African fintech unicorn Flutterwave.

Lubega emphasized the critical role Breega aims to play in bridging the substantial funding gap in Africa, where only 1% of global funding reaches a region housing 18% of the world's population.

"Africa is witnessing a surge in entrepreneurship, driven by innovation and ambition to tackle the continent's challenges," Faniro-Dada added, highlighting the unique support model Breega offers to empower African entrepreneurs.

This initiative underscores Breega's commitment to nurturing groundbreaking startups that address pressing societal needs while driving economic growth across the continent.

Qatar-based venture capital firm Rasmal Ventures LLC has unveiled its inaugural fund, Rasmal Innovation Fund I LLC, aimed at catalyzing innovation and investment across Qatar and the broader MENA region.

Established in 2023, Rasmal Ventures is Qatar’s first independent VC company, led by a seasoned team with extensive experience managing over 100 VC deals and successful exits. The firm has already secured over $30 million for its initial closing, drawing support from prestigious institutional investors, family offices, and high-net-worth individuals globally.

Registered under the Qatar Financial Centre Regulatory Authority (QFCRA), Rasmal Innovation Fund I LLC targets high-performance startups primarily in climatetech, fintech, B2B SaaS, and AI sectors. The fund aims to raise $100 million in total investment commitments, focusing on pre-Series A to Series B stages.

Aligned with Qatar’s Third National Development Strategy (NDS3), the fund seeks to bolster the local tech ecosystem by providing critical funding opportunities across various technology sectors. This initiative underscores Qatar’s ambitions to cultivate a vibrant VC landscape that supports entrepreneurship and fosters economic growth.

Leading the initiative are Alexander Wiedmer and Angus Paterson, industry veterans with extensive VC experience in the GCC region. Wiedmer highlighted the strategic choice of Qatar as the fund’s base, emphasizing its role in advancing regional innovation and entrepreneurship.

Qatar Development Bank (QDB) welcomed the launch, affirming its commitment to nurturing Qatar’s VC sector and supporting private sector-led initiatives that drive innovation and economic diversification.

Rasmal Innovation Fund I LLC is poised to leverage its strong leadership and strategic focus to propel groundbreaking startups towards scalable growth and impactful contributions to Qatar’s emerging tech ecosystem.

Pollination, a prominent climate-focused investment firm, has unveiled its Climate and Nature Impact Venture Fund aimed at supporting early-stage companies dedicated to climate and nature solutions, with a primary focus on Australian startups. The fund targets a final close at $150 million and aims to invest in companies driving innovation in critical areas such as energy management, clean industries, transport, food and agriculture, carbon and nature management, and circular economy.

According to Pollination CEO Martijn Wilder, this initiative marks a pivotal moment as the world intensifies efforts to address climate and nature crises simultaneously. The fund represents the first of its kind in Australia, combining investments in climate and nature solutions to meet both market demand and environmental imperatives.

Managed by Pollination’s global investment team, led by Diana Callebaut, the fund plans to invest between $4 million and $12 million per company, focusing on Series A and B-stage startups. Australia, with its burgeoning climate tech sector and strategic advantages in energy markets and land regeneration, is poised to benefit significantly from this initiative. The fund aims not only to provide capital but also to accelerate the development of impactful solutions and facilitate early customer connections in global markets.

The fund has already secured commitments from key investors, including the Queensland Investment Corporation (QIC), highlighting its strategic importance in closing early-stage funding gaps and supporting local innovators in Queensland. Lottie Tant, QIC’s Private Equity Investment Director, emphasized the fund’s role in bolstering Queensland’s priority sectors and advancing innovative climate technologies.

Pollination’s Climate and Nature Impact Venture Fund emerges as a crucial vehicle to propel innovation, sustainability, and resilience in the face of pressing global environmental challenges, underscoring Australia’s pivotal role in the transition towards a more sustainable future.

C15 Studio, a new player in the Free Ad-supported Streaming Television (FAST) sector, debuted with significant backing from venture capital firms specializing in sports. Led by co-founders Joe Nilsson and Amory Schwartz, C15 Studio has secured investments from Sharp Alpha Advisors, KB Partners, and Raptor Group, enhancing its capability to deliver sports content via its FAST channels.

The studio's initial lineup features premier sports partnerships including Formula One, ONE Championship, Triton Poker Series, and the Professional Squash Association. These channels will be accessible through distribution platforms such as Samsung TV Plus, Amazon Freevee, and Pluto TV, with more partnerships yet to be disclosed.

Nilsson, formerly overseeing international streaming at Jukin Media, highlighted the appeal of FAST channels in providing free, internet-delivered TV, aiming to capture a broad audience within the sports enthusiast community. He emphasized sports' efficacy in attracting viewers, positioning C15 Studio to leverage this dynamic to expand its audience base.

While C15 Studio holds live broadcasting rights for all partners except Formula One, which maintains an existing deal with ESPN until 2025, it will showcase Formula One races five days after their live broadcast. The Formula One channel will offer curated content including analysis by Jolyon Palmer, shows like Tech Talk, and documentaries such as Chasing The Dream.

In the competitive landscape of FAST sports streaming, C15 Studio joins Roku and other platforms in catering to the growing demand for accessible, ad-supported sports content. This strategic entry underscores their commitment to leveraging sports as a cornerstone for audience engagement and content consumption in the evolving digital media landscape.

Amsterdam-based FounderFuel, originally established as a community hub for founders and investors, has announced the launch of its new investment fund aimed at supporting early-stage startups. Founded in 2022 by Chingiskhan Kazakhstan and Max Schalow, FounderFuel has evolved from its initial role to become a pivotal player in the Dutch startup ecosystem.

The new fund marks a significant shift, focusing on empowering international founders who often face challenges in accessing local funding opportunities. FounderFuel aims to make 25-35 investments by 2027, employing Entrepreneurial Proof of Stake (EPOS) agreements to streamline investment processes and prioritize founder-led companies. This approach minimizes prolonged equity negotiations, emphasizing rapid deal closure within two months.

"We believe international founders bring diverse perspectives to the market," says Max Schalow, underscoring the fund's commitment to fostering innovation and inclusivity within the Dutch entrepreneurial landscape.

Supported by a seven-member team and bolstered by contributions from operators, angels, and notable figures like Tommy Hurley from Shamrock Ventures, FounderFuel offers investment tickets starting at €75K, targeting pre-seed, early seed, and selectively Series A rounds. Portfolio startups benefit from extensive mentorship, a robust network, and support in securing subsequent funding rounds, enhancing their growth trajectory.

As FounderFuel expands its footprint in Amsterdam, it aims to enrich the startup community through additional events, activities, and strategic partnerships, reinforcing its mission to catalyze the success of emerging ventures through capital infusion and expert guidance.

Ascension VC has launched its new institutional impact fund, Ascension Fund III (AFIII), with an initial close of €19.8 million. This fund aims to support Tech4Good startups led by talented founders who leverage technology to create more resilient societies and reduce social inequalities. A second close is anticipated to bring the total to approximately €58.36 million by 2025.

AFIII has attracted a diverse group of investors for its first close, including anchor investor Big Society Capital, Housing Association Places for People, Esmee Fairbairn, several Family Offices, and High Net Worth individuals. Noteworthy contributions also come from previous Ascension-backed founders such as Wagestream and Percent.

Ascension VC has a track record of successfully identifying and supporting impactful Tech4Good businesses. Recent achievements include the acquisition of Credit Kudos by Apple and Guardian Angel by Octopus Wealth, demonstrating significant returns on impact-focused investments.

Jean de Fougerolles, Managing Partner at Ascension, emphasized the fund's mission: "At AFIII, we believe in the power of technology to drive positive change. Our fund is dedicated to identifying mission-driven founders capable of delivering venture-style returns while addressing social inequalities."

Emma Steele, Partner at Ascension, highlighted the fund's strategic focus: "This fund aligns with major tech trends like AI/ML, digital health, fintech, and decarbonization, aiming for both substantial financial returns and deep social impact. We're seeking 'impact dragons'—companies that excel in both financial performance and societal benefit."

Gabriel Ng, Investment Director at Big Society Capital, shared his enthusiasm: "We are excited to support Ascension Fund III and the impactful ventures it will invest in. Tech4Good startups can significantly mitigate the impacts of societal inequalities, particularly affecting vulnerable populations. Ascension's previous successes in addressing the poverty premium demonstrate their capability to deliver both social impact and financial returns."

Ascension Fund III is poised to strengthen its impact on society through technology-driven solutions, contributing to a more equitable and resilient future.

When businesses venture into new markets, some encounter obstacles stemming from past failures, while others grapple with uncertainty regarding where to start or which direction to pursue. This challenge isn’t limited to startups; it also impacts medium and large companies alike. Based on Duamentes insights, let’s explore key stages and highlights.

For startups, selecting the ideal country for their initial launch is important to swiftly showcase positive traction. Often, they base this decision on factors like the CEO’s convenience in residing there or if a team member possesses some familiarity with the country. Mid-sized companies often enter new markets without a clear understanding of the situation. They try, fail, conclude that the whole idea doesn’t work, and then avoid trying again for a long time.

Established companies usually aim to pinpoint 1-3 new markets (depending on their business type) for expansion, relying on metrics such as GDP, GDP growth rate, startup density, corporate tax rates, employment rates, and regulatory conditions. These types of companies tend to make other mistakes, like choosing a product name that sounds inappropriate or even offensive to the locals or run marketing campaigns that don’t align with local customs and cultural norms (e.g., using inappropriate imagery or slogans).

Why Expansion May Fail

Introducing a company or product in a new market demands meticulous planning and initial investigation. The aim is to identify the optimal use for the product or service, aiming to minimize the necessity for extensive alterations, adaptations, or region and customer-specific tweaks.

To launch a startup in a new country means it’s going to be a different ball game altogether. A startup must first do a lot of research about that country and understand the consumer behavior and forge partnership with local players to foster deep relations in that country.

Devansh Lakhani, Angel Investor, India

The secondary objective is to steer clear of scenarios where either demand for the product/service is low or the market is inundated with multiple offerings, necessitating substantial marketing investment to establish a foothold. Otherwise, the company’s expansion efforts may falter due to one of these factors:

• Insufficient market research can cause misunderstandings about demand, competitors, or cultural differences, leading to inappropriate strategies and product offerings.
• Without thorough product research, the company might launch products or services that don’t align with the specific needs or preferences of the new market.
• Neglecting customer research may result in ineffective strategies for attracting and retaining customers, harming brand reputation and hindering the establishment of a loyal customer base.
• Failing to research the business model and commercial viability can result in overly optimistic revenue forecasts, unsustainable expenses, and ultimately, an inability to achieve profitability in the new market.

3 Steps to Successful Country Scoring

For every chosen country, compile a set of evaluation criteria. This list comprises both fundamental parameters essential in all cases and tailored parameters specific to each business. For instance, if the solution caters to multiple industries within a country, we also conduct individual assessments for each industry.

Level 1: Market Research

During this phase, evaluate which markets exhibit significant size and growth potential, while identifying “red oceans” where entry might prove prohibitively expensive. Although certain markets may seem saturated initially, delve deeper to uncover concealed niches or innovative opportunities that could pave the path to success.

Examine:

• Market size by evaluating the total revenue potential and growth rate to understand the financial scope and prospects of the market.
• Demographics by analyzing the age, gender, income, and education levels of the target population to tailor marketing strategies effectively.
• Adoption of the services by assessing how quickly and widely the target market is embracing the services to gauge market penetration and user engagement.
• Competitors by identifying key players and their market shares to understand the competitive landscape and strategic positioning.
• Industry data by examining multiple industries within a country and assessing each industry individually to identify growth opportunities and market dynamics.
• Trends via monitoring shifts in consumer behavior and technological advancements to stay ahead of changes that could impact the market.
• Audience segments by categorizing the market into distinct groups based on behavior and preferences to develop targeted marketing and service delivery strategies.
• Market entry barriers by evaluating factors such as legal requirements, accounting standards, government support, compliance, technological development, and service development to understand the challenges and costs associated with entering the market.

Level 2: Product & Customer Evaluation

When assessing countries, prioritize those where minimal adjustments are needed in the product, target audience, and communication strategies. Countries requiring either no changes or only minor adaptations in these areas receive higher scores.

Here’s how the scoring process unfolds: countries demonstrating strong performance ascend in the rankings. Minor issues that are easily rectifiable result in a slight drop in ranking. However, significant challenges necessitating substantial alterations to the product and business model lead to lower scores, relegating the country to the bottom of the ranking.

There are instances where seizing market dominance is important. In such scenarios, a robust strategy is imperative, transcending mere scoring. Scoring, however, serves as a tool to pinpoint the most favorable market entry opportunities, particularly when resources are constrained.

The success of a product in one market doesn’t guarantee its success in another. Products and technologies crafted may not always align with the needs of the intended country or audience segment. Hence, it’s crucial to incorporate in the country scoring framework an assessment of the product by prospective clients.

This evaluation aids businesses in comprehending whether the product resonates with the audience and if they are inclined to invest in it. If not, it prompts a reassessment, potentially leading to adjustments in the product or target audience to achieve a better product-market fit. This iterative process ensures that businesses align their offerings with the specific demands of each market they intend to enter.

Product Parameters to Evaluate

When evaluating market strategy effectiveness, it’s essential to consider several key parameters to determine whether the product effectively meets the needs of the target audience:

• The target audience exhibits a demand for the product.
• The target audience seeks to address a problem and is willing to pay for a solution.
• Existing solutions fail to meet the target audience’s requirements.
• The solution meets the target audience’s needs in terms of pricing.
• A product fulfills the target audience’s requirements concerning features.
• A product satisfies the target audience’s expectations regarding service provision.
• A product meets the target audience’s standards for user experience (UX).
• A product effectively communicates with the target audience.
• A product appeals to the target audience visually.
• A product aligns with the cultural values of the target audience.

Methods and Frameworks

In evaluating a market entry strategy, we employ established and customized methodologies such as Customer Research, User Studies, and focused assessments of Product-Market Fit. Aligning these methodologies is critical for pinpointing countries where product launch can occur with minimal adjustments, guaranteeing it resonates effectively with the target audience’s requirements and preferences.

User research plays a vital role in determining the product’s ease of use and intuitiveness, thus reducing the necessity for extensive design iterations. Customer research yields valuable insights into the target audience’s needs, preferences, and behaviors, empowering us to tailor products and services to precisely meet their expectations.

It is effective to enrich this step with social listening and semantic analysis. These techniques offer valuable insights into market sentiment, user preferences, and potential demand for the product or service. By monitoring and analyzing online discussions, reviews, and mentions relevant to the industry, competitors, and target audience, we can gather critical data to build an effective product strategy.

The evaluation process incorporates an assessment of Product-Market Fit aspects directly related to the product (read more about finding PMF here) to identify countries where minimal changes are needed for a successful product launch.

Some companies overlook the important step of in-depth product and user evaluation. They might rely on surveys, feedback from personal connections, and sometimes AI tools, but they often miss out on gaining deeper, actionable customer insights. There’s a common belief that this process is too time-consuming and expensive. However, aligning this process with the company’s objectives can be cost-effective in the short and long run. It helps avoid unsuccessful product launches and reduces the need for substantial initial marketing budgets.

Level 3: Commercial Viability

During this phase, assess the cost-effectiveness of entering particular markets for the company. Evaluate whether the expected benefits outweigh the costs and endeavors, pinpointing the countries where launching would generate the most substantial returns. This analysis encompasses Customer Acquisition Cost (CAC), Price Comparison, and Profitability Assessment.

For example, Customer Acquisition Cost (CAC) is determined retrospectively, primarily serving as an estimated CAC for scoring countries. However, it’s an iterative process requiring strategic planning, thorough market research, and alignment of goals with financial constraints.

Additional Factors to Address

Evaluation process includes additional factors:

• Exploring potential financial support opportunities through grants can foster business growth and development.
• Assessing the advantages of operating within designated special economic zones can offer tax benefits and regulatory advantages.
• Evaluating government incentives can encourage investment and expansion in specific industries or regions.
• Analyzing the efficiency of establishing and managing business operations in different locations can provide insights into the ease of business establishment and operations.
• Examining the regulatory landscape helps understand its impact on compliance and operational flexibility.
• Assessing the ease of obtaining necessary certifications and licenses is crucial for smooth business operations.
• Considering the optimal team size for servicing, remote sales, and service options compared to establishing a physical presence can help in strategic planning.
• Analyzing labor costs, laws, and associated risks related to workforce management is essential for cost-effective operations.
• Forecasting cash flow and determining the timeline for reaching the break-even point and profitability is critical for financial planning.

In this phase, delve into revenue streams, pricing strategies, distribution channels (like direct sales or online platforms), and customer acquisition tactics. For example, when it comes to pricing, our aim is to maximize revenue while remaining competitive, considering strategies like cost-plus pricing, value-based pricing, or penetration pricing.

It’s essential to evaluate the financial viability and profitability of the business model by examining costs, revenue projections, profit margins, and return on investments. For instance, in revenue forecasting, we set realistic targets to enable startups to make well-informed decisions regarding resource allocation and growth strategies.

Assess risks to mitigate their impact on scaling success, considering factors such as political stability and upcoming global events that might affect business operations and growth strategies. Our approach is adaptable, addressing specific factors depending on the industry and other company particulars.

Companies often employ rapid testing to swiftly assess the feasibility of their business concept in new markets. This approach enables companies to conserve marketing budgets, time, and resources, empowering startups to refine their strategies before fully committing to a comprehensive launch.

Duamentes experts consistently offer a variety of scoring options across 20 industries and 35 countries. This greatly streamlines the scaling process for companies since we utilize data already available in Duamentes Insight Database and tailor it to the specific needs of each company.

The travel industry continues to thrive, marked by significant developments like a major fundraising effort from a prominent B2B startup. Lighthouse, a data analytics platform serving hotels and the broader hospitality sector, has secured $370 million in a Series C funding round led by KKR. This investment propels the company’s valuation past $1 billion.

Lighthouse plans to channel the new funds into expanding its data capabilities, developing advanced analytics tools, and enhancing AI-powered features. Additionally, the capital may support acquisitions to bolster its growth; the company has already made four acquisitions, including Stardekk earlier this year, which brought it an integrated hotel software solution for managing reservations and more.

At $370 million, this round stands as one of the largest for a London-based startup and among the biggest in the travel sector this year.

For those observing Europe’s startup ecosystem, Lighthouse’s fundraising journey offers valuable insights. The company raised $80 million in 2021, a peak period for startup funding. This latest round signals investor confidence in Lighthouse’s ability to execute and deliver value despite challenges in the broader tech landscape.

European startups have faced headwinds, including geopolitical uncertainties, economic slowdowns, and reduced activity in certain tech sectors. However, Lighthouse’s focus on the global travel market—valued at around $15 trillion annually—positions it as a key player. By leveraging AI and advanced analytics, the company taps into the growing demand for data-driven decision-making in hospitality.

Unlike tools designed for booking or operational management, Lighthouse specializes in providing actionable business intelligence. The platform processes an impressive 400 terabytes of travel and market data daily, using AI to generate insights for its clients, which include both large hotel chains and smaller operations. Its solutions are currently utilized by over 70,000 hospitality providers, including well-known brands like Holiday Inn, Radisson, and NH Hotel Group.

This substantial funding highlights the increasing need for innovative tools in the hotel sector to refine pricing strategies and enhance customer experiences—critical in a market where travelers have more options and booking channels than ever.

“We’re just beginning to unlock the potential of hospitality data, making it more powerful, accessible, and cost-effective,” said Sean Fitzpatrick, CEO of Lighthouse. “I’m incredibly excited about the future we’re building.” Fitzpatrick is expected to share more insights in an interview with TechCrunch later today.

Lighthouse’s Series C round also saw continued support from previous investors, including Spectrum Equity, F-Prime Capital, Eight Roads Ventures, and Highgate Technology Ventures, underscoring the sustained confidence in the company’s vision and performance.

Las Vegas law enforcement has been receiving funding for advanced technologies, including drones and license plate readers, courtesy of Andreessen Horowitz partner Ben Horowitz. The next priority on their agenda? Utilizing AI to streamline body camera footage management.

During a podcast with Horowitz and Marc Andreessen, Sheriff Kevin McMahill shared his vision for AI applications in policing. He hopes to use the technology to automatically blur faces and redact sensitive details in bodycam recordings, as well as to analyze vast datasets, such as cell tower records obtained during investigations. "I truly believe AI can revolutionize how we address some of the biggest challenges facing law enforcement," McMahill remarked.

The podcast episode followed reports that Horowitz has been backing the Las Vegas Metropolitan Police Department (LVMPD) to acquire products from a16z portfolio companies. Public records also revealed Horowitz’s involvement in advising on the deployment of these tools. While this collaboration has raised concerns among advocates for police accountability and surveillance, both Horowitz and LVMPD plan to continue strengthening their partnership.

“We’re not stopping,” Horowitz asserted, confirming the venture firm's ongoing commitment to supporting technology adoption within the department. McMahill echoed this sentiment, emphasizing that LVMPD’s efforts could serve as a model for other municipalities. “We’ll show it works, and more cities will follow suit,” he said.

The podcast touched briefly on some of the tech already in use, including Skydio drones and Flock Safety’s license plate-reading cameras, both backed by a16z. Emails obtained by TechCrunch revealed discussions about at least four other products, although LVMPD declined to comment.

Andreessen probed further, asking McMahill to outline his top tech priorities. The sheriff highlighted the burden on his team handling public records requests, which involves painstakingly reviewing bodycam footage to redact sensitive information. He sees AI as a solution to automate this tedious task, freeing officers to focus on more critical duties.

“Developing technology to blur faces, addresses, or names in footage shouldn’t be that hard,” McMahill noted. He also pointed out how AI could simplify analyzing subpoenaed cell phone tower data, which often includes millions of records. “If technology could identify just a handful of relevant numbers at the time and location we’re investigating, it would help us generate actionable leads,” he explained.

Horowitz expressed confidence in tackling these challenges, describing the AI applications McMahill proposed as straightforward to implement. Andreessen agreed, calling the task of automating face redaction “a very easy problem to solve.”

AI is already making inroads in policing. Startups like Abel, which recently raised $5 million, are developing tools to process bodycam footage and generate police reports. Similarly, Axon, a leader in police technology, offers AI-powered tools for identifying objects in footage and speeding up the redaction process.

McMahill’s wishlist underscores the growing role of AI in law enforcement and the push to integrate advanced technologies to improve efficiency. Whether through automating bodycam reviews or analyzing vast datasets, the LVMPD sees AI as a critical tool for modern policing.

The venture capital industry is grappling with a significant liquidity crisis as IPOs and other exits continue to lag behind the record-breaking highs of 2020 and 2021. Fresh data reveals the extent of the downturn.

In 2023, U.S. venture capital firms invested $60 billion more into startups than they retrieved in returns, marking the largest deficit in 26 years of PitchBook’s tracking, according to The Wall Street Journal. Only $26 billion worth of shares were returned to investors last year, the lowest figure since 2011.

While exits remain scarce, the past three years have seen the highest levels of venture funding in the industry’s history, creating a stark contrast between investment activity and realized returns.

However, there are hints of improvement ahead. Companies such as Klarna and ServiceTitan are preparing for IPOs, which could signal a gradual reopening of the exit market and help address the widening deficit.

Despite Elon Musk suing OpenAI for allegedly straying from its nonprofit origins, Josh Kushner, founder of Thrive Capital and a major OpenAI investor, offered strong praise for Musk during the Fortune Global Forum last week.

“I have deep admiration and respect for Elon,” Kushner said, emphasizing Musk’s dedication to his principles.

Thrive Capital has ties to Musk through investments in SpaceX and political connections to Donald Trump, who recently appointed Musk to co-lead the Department of Government Efficiency. Kushner downplayed concerns about Musk’s influence on OpenAI, highlighting Musk’s intentions to “do right by everyone.”

Musk, who co-founded OpenAI and contributed $44 million to its establishment, launched xAI last year as a rival AI venture. His lawsuit against OpenAI now includes CEO Sam Altman, co-founder Greg Brockman, and new defendants like Microsoft and former OpenAI board members. The amended complaint alleges that OpenAI is pressuring investors to avoid funding competitors like xAI.

Kushner avoided commenting on the lawsuit's tensions but acknowledged the respect between OpenAI’s leaders and Musk. Thrive recently led OpenAI’s $6.5 billion funding round at a $157 billion valuation, with Kushner’s fund contributing $1.3 billion. Thrive reportedly has an option to invest an additional $1 billion if OpenAI meets its revenue targets.

Meanwhile, reports indicate OpenAI has asked investors to steer clear of specific rival AI companies, including xAI. Thrive has not invested in xAI or other direct OpenAI competitors, according to PitchBook.

Thrive Capital continues to expand its reach, raising $5 billion this year across early- and late-stage funds, bringing its assets under management to $15.5 billion. Kushner’s comments underscore his intent to maintain balance between the leaders of two of his high-profile portfolio companies amid an intensifying AI industry rivalry.

Nvidia’s record-breaking $19 billion net income last quarter failed to quell investor concerns about the company’s ability to sustain its rapid growth. Analysts pressed CEO Jensen Huang during the earnings call on how Nvidia would adapt to emerging AI model optimization techniques like “test-time scaling,” a method gaining traction in the industry.

Test-time scaling, popularized by OpenAI’s o1 model, focuses on enhancing AI inference — the process of generating results after a user query — by allocating additional computing power. This marks a shift from prioritizing pretraining to inference, posing potential challenges for Nvidia as well-funded startups like Groq and Cerebras develop specialized inference chips.

Huang framed test-time scaling as “one of the most exciting developments” and reassured investors of Nvidia’s readiness to capitalize on this evolving trend. He emphasized that while Nvidia’s current dominance lies in AI pretraining, the company is already the largest inference platform globally, poised to expand as the AI landscape shifts.

“Foundation model pretraining scaling is intact and continuing,” Huang said, countering concerns of a slowdown in generative AI advancements. He acknowledged, however, that pretraining alone is insufficient, as the industry moves toward deploying more models in real-world scenarios.

Nvidia’s position in the pretraining market has fueled its 180% stock surge in 2024, supported by partnerships with AI giants like OpenAI, Google, and Meta. Still, skeptics, including Andreessen Horowitz partners, argue that scaling pretraining is nearing its limits, necessitating innovative approaches like test-time scaling.

Looking ahead, Huang expressed confidence in Nvidia’s ability to outpace competitors, citing the company’s scale, reliability, and innovation-enabling CUDA architecture. “Our hopes and dreams are that someday, the world does a ton of inference,” he said, envisioning a future where Nvidia plays a central role in the broader adoption of AI.

When engineer Shiva Suri shared a home office with his mother, a respected radiologist, he observed firsthand the inefficiencies plaguing her workday. Spending just 5% of her time on critical diagnoses while hours were lost to mundane tasks inspired him to launch New Lantern, a startup designed to streamline radiology workflows with AI.

New Lantern’s platform integrates PACS (Picture Archiving and Communication Systems) and reporting tools into a single cloud-based solution, automating tedious tasks like 3D scan measurements and report generation. This innovation aims to double radiologists’ case-processing efficiency while letting them focus on interpreting scans, a core skill no AI can yet replace.

Benchmark’s general partner Eric Vishria, who led the startup’s $19 million Series A funding, was drawn to New Lantern’s unique approach of enhancing radiologist productivity rather than attempting to replace them.

“There’s a shortage of radiologists, and AI isn’t ready to take over image analysis,” Vishria noted. “Shiva’s vision to use AI for drudgery instead of diagnostics is what got me really excited.”

The radiology software market is traditionally dominated by legacy providers like GE Healthcare, Philips, and Nuance. However, New Lantern aims to disrupt the industry with its modern, cloud-first approach, a leap Suri compares to the shift from physical film to PACS 25 years ago.

While Suri has not disclosed specific customers, some radiology practices are already using New Lantern’s tools — and his mother is among its biggest supporters.

Reddit experienced a significant outage today, starting around 12:20 p.m. PT, leaving thousands of users unable to access the platform via its website or app. After approximately four hours, the issue seems to have been resolved.

According to Reddit's status page, the company confirmed the problem has been fixed and is currently monitoring the situation.

During the downtime, users attempting to access Reddit encountered error messages. On the website, a black screen displayed: “Upstream connect error or disconnect/reset before headers. Reset reason: connection failure.” Meanwhile, the iOS app showed a dead Snoo head, Reddit’s alien mascot.

Over 47,000 users reported issues on Downdetector.com, while many turned to X (formerly Twitter) to vent frustrations and share screenshots of the error messages.

The UK government is exploring the possibility of banning social media for children under 16, inspired by Australia's approach, according to Technology Secretary Peter Kyle. Speaking on BBC Radio 4's Today program, Kyle indicated that all options are under consideration, stating, “Everything is on the table with me.”

The discussion comes as the Department for Science, Innovation and Technology (DSIT) outlines its enforcement priorities for the Online Safety Act (OSA), which was passed last year. The law targets a range of online harms, including cyberbullying, hate speech, intimate image abuse, and child exploitation. Child safety remains the government's top priority, with a focus on protecting young users from harmful and inappropriate content online.

Government Response to Social Media's Impact

This summer, riots linked to online disinformation raised concerns about the influence of social media on minors. Reports revealed that some individuals involved in the riots were under 18, amplifying worries about the platforms' impact on young minds.

To address these concerns, the government has initiated a feasibility study to examine the effects of social media and smartphone use on children. DSIT highlighted that existing research is insufficient to draw strong conclusions about the impact of these technologies on mental health. Kyle emphasized that any decision on restricting kids' access to social media must be evidence-based.

Enforcement of the Online Safety Act

Enforcement of the OSA will begin next spring, with Ofcom, the UK’s communications regulator, overseeing compliance. The act includes strict measures, such as age verification technology to limit access to harmful content. Companies failing to meet these requirements could face fines of up to 10% of their global revenue.

Kyle underscored the importance of holding tech companies accountable, particularly regarding the protection of young users. Age verification measures are set to take effect in January, signaling the government’s commitment to ensuring safer online experiences.

Strengthening Protections Against Intimate Image Abuse

In September, DSIT made sharing intimate images without consent a “priority offence” under the OSA. This change compels platforms to proactively block such content using algorithms and to swiftly remove any material that slips through. Kyle noted that this proactive approach has already prevented significant harm, particularly for women, who are often victims of this abuse.

“These measures are stopping harm before it occurs, rather than reacting after the damage is done,” Kyle told the BBC. He warned that platforms failing to comply face severe penalties.

Addressing Misinformation and Disinformation

The government also plans to tackle misinformation and disinformation, particularly content that threatens democratic processes and societal cohesion. DSIT emphasized the need for platforms to have robust policies and tools to address these issues while preserving legitimate debate and free speech.

As part of its enforcement strategy, DSIT has outlined five key priorities for the OSA:

1. Safety by Design: Embedding safeguards to create secure online environments, especially for children.
2. Transparency and Accountability: Ensuring platforms are accountable for user safety.
3. Agile Regulation: Adapting to emerging threats, such as AI-generated content.
4. Inclusivity and Resilience: Building a digital world resilient to harms like disinformation.
5. Technology and Innovation: Promoting advancements in online safety technologies.

These measures reflect the UK’s ambition to become a global leader in online safety while balancing the challenges of regulation with the preservation of free expression.

With over 200 million monthly users, WhatsApp Business has become a key channel for businesses to engage with customers. However, for many users, this has also meant an influx of unwanted marketing messages. Until now, the only way to stop these messages was to block the business account entirely — but WhatsApp is rolling out a more user-friendly solution.

New Controls for Managing Business Messages

WhatsApp is testing new features that allow users to manage the types of messages they receive from businesses. Users can now choose options like “interested/not interested” or “stop/resume” for specific message categories, such as marketing offers or announcements. These updates provide more control without cutting off all communication from businesses.

For example, users can opt out of receiving marketing messages but continue receiving essential updates, such as order confirmations or account alerts. In the future, they’ll also be able to resume messages, like seasonal offers, at their discretion.

Global Testing and Expanded Features

Meta announced that these features will undergo global testing. Previously, businesses could send messages under four categories — marketing, utility, authentication, and service — but users had no way to filter them. This gap left many feeling overwhelmed, particularly in regions like India and Brazil, where WhatsApp often serves as the primary communication channel, replacing email.

In September, Nikila Srinivasan, Meta’s VP of product management for messaging monetization, hinted at these changes, emphasizing the need for transparency and granular user preferences. Srinivasan highlighted ongoing efforts to educate businesses on creating campaigns that meet platform standards and user expectations.

Addressing Spam and Balancing Monetization

Earlier this year, WhatsApp limited the number of marketing messages users could receive daily, though it hasn’t disclosed the cap. Despite this, business communication remains a key driver of revenue for Meta, contributing $434 million to its "family of apps" in Q3 2024.

While features like broadcast channels and community tabs have created dedicated spaces for group and creator interactions, business messages still populate the main inbox. This blend of personal and promotional content poses a challenge: how to grow WhatsApp Business without alienating its core user base.

Srinivasan acknowledged this balance, noting that many newer features are optional and aimed at maintaining a high standard for what belongs in a user’s inbox. “Whatever we are doing in terms of educating businesses and investing in user controls is because we want the standard of what actually belongs in your inbox to feel really high,” she said.

By introducing these controls, WhatsApp is taking steps to align user needs with its growth strategy, offering a more personalized and less intrusive experience.

India has defied global trends in initial public offerings (IPOs) this year, emerging as a standout market for tech listings even as major economies face ongoing challenges. The world’s largest democracy is gearing up for an even larger wave of startup IPOs in 2025.

According to sources familiar with the plans, more than 20 startups are preparing to go public next year. Among them are B2B platforms Inframarket and Zetwerk, farm-to-consumer venture CaptainFresh, service marketplace UrbanCompany, jewelry retailer Bluestone, security firm OneAssist, and hybrid retailer Magicpin. Quick commerce firm Zepto, workspace provider Table Space, and industrial goods platform Ofbusiness are also set to file, while others like Rebel Foods, logistics firm Porter, e-commerce player Meesho, investment app Groww, and SaaS provider Capillary may list into 2026.

This momentum builds on the strong foundation of 2024, which saw 12 startups, including seven tech companies, successfully debut on Indian exchanges. Pitchbook data highlights India as the only major market with consistent growth in IPO activity over the past decade.

This performance starkly contrasts with other regions. The U.S. saw just 22 venture-backed tech IPOs in 2024, up slightly from 21 in 2023 but far below the 53 listings of 2020. China experienced a decline, with 56 tech IPOs this year compared to 117 in 2022, while Europe edged ahead of India with one additional listing. Meanwhile, the UK market recorded no tech IPOs at all.

Indian food delivery giant Swiggy’s $1.35 billion IPO, the largest global tech listing of 2024, further underscores the nation’s growing influence in public markets, according to JPMorgan.

Building Investor Confidence

India’s emergence as an IPO hub reflects its evolving capital markets and innovation ecosystem. Anand Daniel, a partner at Accel, attributes the trend to “strong capital markets and a thriving innovation ecosystem that continues to draw significant investor interest.”

Historically, the Indian market has faced skepticism over loss-making companies going public, but this sentiment is shifting. JPMorgan’s Abhinav Bharti credits factors like robust macroeconomic growth, a surge in domestic capital, and political stability for India’s unique positioning.

“No other country offers the same combination of political certainty and consistent policy direction,” Bharti told TechCrunch.

Expanding Liquidity and Market Depth

India’s market liquidity has seen remarkable growth. From 2019 to 2024, the country’s market capitalization has doubled to over $5 trillion, while daily liquidity has tripled from $5 billion to $15 billion, Bharti noted.

The rise in IPO activity comes as private markets experience a slowdown. Valuation resets and heightened scrutiny by venture capital firms have compelled startups to improve financial discipline. “Many startups aiming to be IPO-ready by 2026 have achieved that milestone ahead of schedule,” a venture capital partner remarked.

Companies to Watch in 2025

Besides Zepto, Table Space, and Ofbusiness, notable IPO contenders include PayU, Pharmeasy, and MobiKwik. These companies, along with others in tech and healthcare, are poised to close the gap with global benchmarks. While tech and healthcare firms account for over 50% of the S&P 500 Index, they represent less than 20% of India’s Nifty 50, leaving significant room for growth, Bharti said.

India’s IPO landscape, supported by strong market fundamentals and improved startup readiness, is set to shine even brighter in the coming year.

Elon Musk Seeks Injunction to Block OpenAI's Transition to For-Profit Model

In a significant legal development, Elon Musk has filed for a preliminary injunction against OpenAI, its co-founders, and its key investor, Microsoft, aiming to halt what Musk's legal team describes as anticompetitive behavior. The motion, filed in late November 2024 in the U.S. District Court for the Northern District of California, seeks to prevent OpenAI from continuing its transition to a for-profit model.

Key Allegations:

1. Anticompetitive Behavior: Musk's team accuses OpenAI, CEO Sam Altman, President Greg Brockman, Microsoft, and others of discouraging investors from backing xAI (Musk's own AI company) and engaging in self-dealing.
2. Transfer of Assets: The lawsuit claims OpenAI is unlawfully transferring intellectual property and assets as part of its conversion into a fully for-profit entity, violating its original nonprofit mission.
3. Access to Competitively Sensitive Information: Musk’s team also accuses OpenAI of using its connection with Microsoft to gain access to confidential information that benefits their financial interests.

Musk’s Concern:

Musk has long been critical of OpenAI's shift from its original nonprofit model, which he believed was established to ensure AI advancements were for the benefit of all. He asserts that OpenAI has deviated from that mission, which was initially designed to prevent AI from being monopolized by private interests.

Financial Interests and Self-Dealing:

One of the core arguments in the injunction is that Sam Altman and other OpenAI executives are benefiting personally from the company’s dealings with Microsoft and other entities, including the selection of Stripe as a payment processor (with which Altman has financial ties).

Musk's legal team is concerned that if the injunction isn’t granted, the damage to OpenAI’s nonprofit status could be irreparable, potentially making it impossible to reverse its transition into a for-profit company. This is compounded by Musk’s claims of losing out on funding for xAI due to pressure from OpenAI’s investors not to back competitors.

OpenAI's Response:

In response to Musk's ongoing legal actions, OpenAI has dismissed the motion, calling Musk’s claims “baseless” and accusing him of engaging in "blusterous" legal tactics. The company has faced several rounds of legal back-and-forth with Musk, who originally co-founded OpenAI but left in 2018 due to disagreements over its direction.

Current Status and Implications:

• Funding Pressure: OpenAI is under financial pressure to complete its transition to a for-profit company, as investors in its latest funding round are reportedly set to pull out if the company doesn’t make the transition within two years.
• Legal and Market Impact: The legal battle raises significant concerns about competition in the AI sector, particularly with regards to Musk’s competing venture, xAI, which has raised substantial funding in its own right, with around $11 billion in capital.

This case highlights the ongoing tensions within the AI industry over control, profit-sharing, and ethical considerations regarding the development and deployment of transformative technologies. Musk’s legal moves are part of a larger narrative about how AI’s future will be shaped by a handful of tech giants and what the role of nonprofit organizations in AI should look like moving forward.

Volta, an innovative startup with dual headquarters in Milan and Paris, has successfully secured a €6 million pre-seed round ($6.3 million) to develop a SaaS platform tailored for B2B sales. The platform is designed to simplify the traditionally cumbersome process of managing catalogs and transactions for wholesale and distribution companies.

Volta pitches itself as the B2B equivalent of Shopify—a solution that mirrors Shopify’s success in transforming B2C commerce but focuses on addressing the unique challenges faced by B2B businesses. While Shopify has expanded into B2B, Volta’s founders believe there’s an untapped opportunity in providing a platform that is specifically tailored for business-to-business transactions.

Tackling Outdated B2B Processes

Many midsize wholesale and distribution companies in Europe are still bogged down by outdated practices, such as using paper catalogs and manually processing orders. This is a major pain point for companies trying to scale and manage growing customer bases efficiently.

Volta aims to streamline the catalog management process and offer businesses a way to transition away from manual workflows. Companies can easily upload their existing catalogs (in Excel or directly from their ERP systems) into Volta’s platform, check for errors in data formatting, and import everything seamlessly. From there, employees can create dynamic, shareable catalogs tailored to different clients and scenarios, track ongoing negotiations, and make real-time updates to orders.

The idea is not to replace a company’s existing enterprise resource planning (ERP) system. Instead, Volta functions as an extension that helps businesses manage the earlier stages of a transaction before it enters the ERP system for final processing. Pricing and inventory data are automatically synced with the ERP to ensure consistency across the business.

Simplifying Customer Management

In addition to catalog management, Volta also offers tools to manage customer relationships. The platform allows businesses to create detailed customer profiles, segment clients into categories, and track interactions. While Volta’s CRM features may not be as comprehensive as platforms like Salesforce, co-founder and co-CEO Paul Guillemin notes that they are more than sufficient for most midsize companies.

“We’re not trying to compete with Salesforce. What we offer is a simpler solution for businesses that don’t need all the bells and whistles but still want a more efficient way to manage their customer relationships and sales processes,” Guillemin explained.

Future Growth and Product Expansion

Looking ahead, Volta plans to expand its platform with additional features. These could include logistics integrations, enabling businesses to manage shipments directly through the platform, as well as financing options to help companies facilitate transactions with clients. The goal is to create a comprehensive solution that encourages companies to adopt more of Volta’s features over time.

Record-Breaking Pre-Seed Round

This €6 million pre-seed funding round marks the largest pre-seed investment in an Italian startup to date. The impressive fundraising success can be partly attributed to the experienced founding team behind Volta. Co-founder Paul Guillemin previously founded Fretlink, a road freight transport startup that raised significant funds but faced challenges scaling. After stepping down from Fretlink in 2021, Guillemin teamed up with Mario Parteli, who co-founded Abiby, a subscription box service for beauty products. Parteli has a wealth of experience in tech and business, having worked at companies like Facile.it and Rocket Internet.

The pre-seed round is led by Emblem, a relatively new European VC firm, with participation from other investors such as Robin Capital, Founders Future, and notable angel investors, including those affiliated with Sequoia, Andreessen Horowitz, and the Berlusconi and Agnelli family investment firms.

With this substantial early backing, Volta is poised to take on the B2B market, offering an innovative platform that could significantly reduce friction in the B2B sales and catalog management process.

Tesla and Rivian have reportedly reached a "conditional" settlement in a lawsuit where Tesla accused Rivian of poaching employees and stealing trade secrets. According to Bloomberg, Tesla informed a California judge that the companies have agreed to a settlement and expect to seek dismissal of the lawsuit by December 24.

The lawsuit, filed in 2020, was set to go to trial in March 2025. Tesla claimed it discovered an "alarming pattern" in which Rivian recruited Tesla employees and allegedly encouraged them to bring proprietary information with them when they left the company.

Rivian, in turn, had filed to dismiss the lawsuit, calling it an “improper and malicious attempt” to hinder Rivian’s growth and intimidate Tesla employees who were contemplating leaving.

Tesla did not immediately respond to TechCrunch’s request for comment, and a Rivian spokesperson noted that the company does not comment on ongoing litigation.

The European Union has all but finalized its political agreement on the new team of 26 commissioners who will implement President Ursula von der Leyen’s policy agenda for the next five years. With a final vote still pending, it's expected that the new Commission will officially begin its mandate on December 1. As the EU turns its focus to vital areas such as digital infrastructure, tech investment, and regulation of Big Tech, three commissioners-designate stand out as key figures to watch in shaping the future of technology in Europe.

Teresa Ribera Rodríguez: Executive Vice President for Clean, Just, and Competitive Transition

Teresa Ribera Rodríguez, the incoming Executive Vice President (EVP) for Clean, Just, and Competitive Transition, will play a pivotal role in EU tech regulation. A Spanish center-left politician, Ribera will inherit a portfolio that merges climate policy with competition enforcement, which could directly impact the largest tech giants. This makes her one of the most powerful figures in the incoming Commission.

Ribera will also oversee the Digital Markets Act (DMA), which enforces stricter rules on Big Tech platforms to curb monopolistic behavior and ensure fairer competition. The DMA, which came into force earlier this year, targets practices like self-preferencing and mandates openness and interoperability. High-profile investigations into companies like Apple, Meta, and Google are already underway under her watch, and she is expected to continue these probes with a focus on increasing enforcement speed.

Additionally, Ribera has been tasked with addressing “killer acquisitions” (where large firms acquire smaller competitors to stifle innovation), which could disrupt M&A activity within the tech industry. Her portfolio will also emphasize state aid reforms, which aim to bolster the EU's competitiveness in sectors like microelectronics, semiconductors, and batteries.

Her leadership in competition policy will be closely watched, as penalties for DMA violations can reach up to 10% of a company’s global turnover. She has pledged to prioritize rapid enforcement and combat anticompetitive behaviors that hinder innovation.

Henna Virkkunen: Executive Vice President for Tech Sovereignty, Security, and Democracy

Henna Virkkunen, who takes the reins of the Tech Sovereignty, Security, and Democracy portfolio, will oversee Europe's evolving approach to digital governance, AI, and cybersecurity. Virkkunen will play a crucial role in implementing the EU's AI Act, which aims to regulate AI based on risk levels, ensuring the technology is used responsibly while fostering innovation.

Her remit also includes the development of a European AI Strategy, the launch of the European AI Research Council, and the EU Cloud and AI Development Act—all designed to boost the competitiveness of European startups and SMEs in emerging tech fields. Virkkunen’s goal is to ensure that the EU becomes less reliant on external players by advancing tech sovereignty through investment in key areas such as quantum computing, supercomputing, and semiconductors.

Virkkunen will also lead enforcement of the Digital Services Act (DSA), which focuses on protecting consumers and regulating illegal online content. A key focus of her tenure will be tackling disinformation and online harms, particularly on platforms like X (formerly Twitter), which is already under investigation for breaching DSA provisions. Virkkunen has committed to working on cyberbullying and “dark patterns” (deceptive design practices), aiming to foster safer online environments for users.

Given the political sensitivities around Musk's X platform, how Virkkunen handles the DSA enforcement, particularly with regard to freedom of speech and platform accountability, will be a key area of scrutiny.

Ekaterina Zaharieva: Commissioner for Startups, Research, and Innovation

Ekaterina Zaharieva, appointed as Commissioner for Startups, Research, and Innovation, will be at the heart of the EU's efforts to support and grow its tech ecosystem. While Zaharieva does not hold an EVP title, her responsibilities will be critical for the future of European innovation.

One of her key tasks will be advancing the European Innovation Act, which aims to simplify the regulatory environment for innovative startups and scaleups. A core focus of her mandate will be improving access to venture capital, facilitating cross-border collaborations, and creating regulatory sandboxes to help startups test new technologies with less bureaucratic hindrance.

Zaharieva is also tasked with supporting EU research and development through the creation of the European Research Area Act, which will encourage the free movement of researchers, knowledge, and tech across the continent. Under her leadership, the European Innovation Council (EIC) and European Research Council (ERC) will also be expanded to better support deep-tech startups and foster collaboration between public and private sectors to scale homegrown innovations.

Further, Zaharieva will be involved in the development of the European AI Research Council, an initiative that aligns with the EU’s broader push to strengthen its AI capabilities.

Zaharieva's ability to reduce red tape and streamline funding access for European startups will be critical to the success of the bloc’s tech ecosystem. Her mandate also includes pushing EU member states to meet a 3% GDP target for research and innovation spending, a goal that underscores her focus on making innovation a central pillar of Europe’s competitiveness.

Key Takeaways

These three commissioners-designate — Ribera Rodríguez, Virkkunen, and Zaharieva — will be instrumental in shaping the EU’s approach to digital regulation, tech innovation, and competition policy over the next five years. As Europe seeks to balance technological sovereignty, regulatory enforcement, and innovation growth, the actions of these policymakers will have a profound impact on the future of tech in the EU and beyond.

From tackling antitrust issues with Big Tech to fostering a thriving startup ecosystem and enforcing new rules for AI, their work will influence the EU’s global competitiveness and set the stage for the digital landscape of the next decade.

In Silicon Valley, the dream is to build a tech startup that not only changes the world but makes its founders billionaires. Many believe this vision can be realized by joining Y Combinator (YC), the renowned startup accelerator that helped launch giants like Airbnb, Coinbase, and Stripe. However, an in-depth analysis of YC's startup portfolio reveals a surprising truth: YC-backed startups don't always need to be original.

YC frequently backs startups that develop similar or even identical products to those of previous YC graduates. In fact, many of these startups end up competing directly with earlier YC-funded companies or operate in a related space with slight tweaks—such as offering the same type of software but for a different market (e.g., point-of-sale systems for coffee shops instead of bars). Others take a similar product and target different regions, like Asia or Latin America.

This trend became apparent after a controversy involving a YC-backed startup called PearAI. The company was accused of cloning another YC product, Continue, by building a very similar code editor. While PearAI's founders admitted to the similarities, they faced backlash, with some critics arguing that the startup was not innovative enough to warrant YC’s support. In response, YC CEO Garry Tan defended the organization’s approach, emphasizing that more competition and options are beneficial. “More choice is good, people building is good, if you don’t like it don’t use it,” he said on X (formerly Twitter).

Interestingly, Tan’s own track record also illustrates YC’s acceptance of seemingly redundant startups. For instance, he supported two separate police bodycam companies over the course of several years: Flock Safety (2017) and Abel Police (2024). Similarly, in the period between 2022 and 2024, YC has accepted over a dozen AI code editor startups—some of which were even part of the same YC cohort.

When asked about the accelerator’s preference for backing competing companies, a YC spokesperson clarified that YC prioritizes the founders over the uniqueness of their ideas. According to the spokesperson, YC’s strategy is focused on identifying individuals who have the vision, resilience, and execution ability to build transformative companies, regardless of whether they’re in a crowded or unique market.

Startups Embrace YC’s Approach

The debate about YC’s strategy is complex, with some founders applauding the approach while others express frustration. Some YC alumni find it problematic when direct competitors emerge from the same batch, especially if they feel their product is being mimicked rather than differentiated. For example, Bryan Onel, the founder of Oneleet, a security startup, shared his frustration on X after PearAI came to light, with others joining the conversation to voice similar concerns.

However, not all YC founders are bothered by competition. Nick Evans, co-founder and CEO of Avocado, a restaurant point-of-sale (PoS) system, sees the value in YC’s openness to competitors. Evans, who previously founded the popular device-tracking startup Tile, which raised significant funds and sold for $205 million, believes that competition isn’t necessarily harmful. “I think it’s stupid that most investors don’t invest in competing companies,” he said. Evans argues that investors who back multiple companies in the same sector can provide deeper insights and help startups succeed. “Startups don’t die by murder; they die by suicide,” he added.

Deckmatch’s Deep Dive into YC’s Product Categories

The recent analysis conducted by Deckmatch, a startup focused on product data and market insights, sheds light on the types of products YC tends to support. The study, inspired by the PearAI controversy, reveals that YC frequently backs duplicative products in certain categories. Deckmatch’s database, which includes over 8 million startups, helped identify several popular product categories where YC has funded multiple startups building similar offerings.

Some of the hot product categories where YC-backed companies frequently overlap include:

• AI Code Editors: Beyond PearAI and Continue, other YC-backed startups like Void, EasyCode, and Cosine are building AI-powered code editors.
• Food & Beverage / Restaurant PoS Systems: Companies like Avocado, Dripos, and Polo (focused on Latin America) target the same PoS market.
• Business Finance & Payroll: Startups such as Warp and Zeal aim to compete with YC graduates Gusto and Rippling in providing finance and payroll solutions.
• AI Sales & CRM Tools: YC-funded companies like Apten, Persana AI, and Topo are entering the AI-driven customer relationship management space.
• AI Meeting Assistants: YC has backed companies like Circleback, Onward, and Spinach AI, which are all building AI-driven tools for improving meetings and collaboration.
• AI Legal Assistants: There’s also significant overlap in the legal tech space, with YC-backed startups like Dioptra, Leya, and Tower working on AI-driven legal assistants.

Additionally, some once-popular categories have seen a decline in YC interest, including:

• Crypto Trading Platforms: After Coinbase's success, YC invested in several crypto trading platforms, though the momentum has waned since 2014.
• E-commerce Store Platforms: Post-Shopify, a dozen YC-backed e-commerce platforms launched, though activity in this space has slowed in recent years.
• Corporate Expense Cards: Following the success of Brex, several companies focused on corporate expense cards also emerged, but the market has cooled since 2018.

Conclusion: YC’s Focus on Founders Over Ideas

While YC’s approach to funding competing or duplicated products might seem counterintuitive, it underscores the organization’s belief that the founders—not the originality of their ideas—are the key to building successful companies. The YC network and its ability to provide insight and support can be a major advantage, even if multiple startups are tackling similar problems.

For aspiring founders, this highlights an important lesson: competition is not something to avoid, but an opportunity to innovate and differentiate in the market. As Garry Tan stated, “More choice is good,” and YC’s strategy continues to reflect that belief. For investors, recognizing that execution and resilience are often more important than a truly unique idea can help identify promising startups—whether they're creating something novel or iterating on existing concepts.

New industry survey reveals that 80% of respondents confirm venture capital firms in Dubai are actively seeking AI-driven startups, reinforcing the city’s position as a global hub for AI investment and technological innovation.

The findings are part of the newly released Practical Guide to Dubai’s AI Ecosystem 2025, developed by Duamentes Global Alliance in collaboration with Dubai Silicon Oasis (DSO). The guide provides key insights into investment trends, AI adoption, and regulatory advancements, equipping businesses and investors with essential market intelligence.

The collaboration between Duamentes and Dubai Silicon Oasis is aimed at accelerating AI adoption and connecting global investors with high-potential AI startups in Dubai. This initiative provides businesses with structured guidance on navigating Dubai’s regulatory framework, securing funding, and leveraging the city’s world-class AI infrastructure.

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“We support business growth in 35 countries and recognize the importance of government-backed initiatives. Dubai is a great example of how state support works efficiently. To raise awareness of these opportunities, we developed this guide in partnership with DSO,” said Kristina Marinović, Chief Operating Officer, Duamentes.

“Central to our mission at Dubai Silicon Oasis is fostering knowledge and innovation across industries with the highest economic impact. A dedicated cluster of AI businesses is established to ensure collaboration and access to resources, including talent, infrastructure, and research, to facilitate innovation in emerging tech,” said Dr. Juma Al Matrooshi, Director General, Dubai Silicon Oasis.

The report outlines key factors shaping Dubai’s AI ecosystem:

“AI acts as a radar for businesses, helping them identify where they can benefit—whether it’s saving time, money, or resources. In Dubai, companies are actively looking for opportunities to automate processes, improve citizen services, and integrate AI into operations. AI is no longer optional; it’s a requirement, and the focus is now on how to extract real business value from it,” said Usman Wattoo, Vice President Sales, Kore.ai.

The CEO Confidence Index from the report highlights a strong shift in AI investment sentiment, with:

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“Over 70% of CEOs in the Middle East are looking to invest in AI now, a massive jump from last year which was circa 40%. In the next six months, I believe we’ll start to see some truly groundbreaking use cases emerge, as companies move beyond the early stages of their initiatives and move beyond the pilot phase,” said Richard Kennedy, Director, AI for Business Institute.

The top five industries actively integrating AI include:

“At Nota AI Middle East, we focus on AI-driven traffic solutions, helping cities reduce congestion through intelligent traffic management. Our system detects incidents in real time, reports them automatically, and integrates with relevant organizations to speed up response times and improve urban mobility,” said Dooyeon Kim, Regional President & Director, Nota AI.

Dubai’s venture capital ecosystem continues to expand, with Oraseya Capital – one of Dubai’s most active AI investors, emphasizing AI and SaaS solutions.

“The investment landscape is evolving rapidly, with venture capital and government initiatives driving AI growth. Unlike other regions where AI adoption is cautious, here, investors see AI as a major opportunity,” said Derek Watson, Founder, Fusion 42.

Duamentes delivers data-driven insights and practical strategies to help companies navigate new markets. Duamentes conducted an in-depth study for the Practical Guide to Dubai’s AI Ecosystem 2025, combining quantitative and qualitative research, desk research, and expert interviews in January 2025. This multi-layered approach ensures a comprehensive analysis of investment trends, AI adoption, and regulatory frameworks in Dubai’s AI landscape.

The Practical Guide to Dubai’s AI Ecosystem 2025 is now available for download at www.duamentes.com and www.dso.ae.

What if you could ditch the endless focus groups, the overpriced consultants, and the six-week wait for answers—yet still understand exactly how your customers will react to your next big move?

That’s exactly what Duamentes, a UK-based tech company, is promising with their new platform Synthetic Respondents. And if the numbers are real, this launch could seriously shake up the $76 billion global market research industry

At its core, Synthetic Respondents replaces human research panels with AI models trained to mimic real customer behavior—how they buy, what they prefer, and how they react to business decisions. It works like this: companies submit a question, idea, or challenge via text, voice, or file. Within hours, the AI simulates customer reactions, pulls the most relevant testing method—like pricing validation or sentiment analysis—and delivers a structured, real-time report. No humans needed

The result? Research that used to take 6 weeks now takes 1 day. Budgets that once stretched to $50,000 drop to around $1,000. And Duamentes claims 90% accuracy backed by continuous validation and a built-in reliability score for each result

"Businesses no longer need to spend weeks or significant budgets to understand their customers. With Synthetic Respondents, decision-making is instant, scalable, and more accurate than ever before," said Ksenia Sternina, co-founder at Duamentes

The tech isn’t vaporware, either. It’s built on eight years of proprietary research, including 1 million survey responses and 50,000 interviews across 40 countries and 20 industries. Their dual-layer AI system first learns human behavior at scale, then tunes itself for industry-specific needs. And it doesn’t stop learning—every decision made using Synthetic Respondents feeds back into the system to sharpen future outputs

Duamentes isn’t just thinking small. With a $30.4B serviceable market in its sights, the company is targeting $608M in revenue within three years. Backed by veterans from Google, Meta, and Microsoft, they’re gearing up for a full commercial rollout in late 2025, offering the platform via subscription, project-based, or licensing deals

If it delivers, Synthetic Respondents could become the new default for decision-making. The real question now? How fast the rest of the industry catches up

The European game development scene is gaining a new kind of gathering—FTW! (For the Win), a conference that’s breaking away from traditional event formats. Held in the heart of Belgrade on May 28–29, FTW! is emerging as a refreshingly personal, insight-driven space for real conversations and collaboration across the continent’s growing game dev ecosystems.

A Community-First Format for a Fast-Evolving Industry

Unlike the usual expo-style events filled with vendor booths and speed networking, FTW! puts substance first. It's designed as an open, community-oriented forum for developers, publishers, and ecosystem builders from Central and Eastern Europe, the Adriatic, the Balkans, and beyond. No matchmaking apps. No exhibition halls. Just authentic dialogue, mutual support, and the kind of knowledge-sharing the European game development scene needs now more than ever.

“It’s a place where you shake hands with peers, not sponsors. Where feedback isn’t filtered through sales pitches. That’s what the industry is really hungry for,” said one early FTW! participant.

This year’s program includes Game Slice, a new module dedicated to game publishing, featuring workshops, open discussions, and a live pitch session designed to support emerging talent looking for their first deals.

The Bigger Picture: Why FTW! Matters Now

The timing couldn’t be better. As outlined in the newly published Duamentes Gaming Report 2025, the European gaming industry is facing a paradox: booming global revenues—$189.3B across mobile, console, and PC platforms—yet a clear slowdown in player retention and indie studio survival.

“Only 7% of players return to a game by Day 30, and 38% quit during their first session. These numbers are sounding alarms across the industry,” said Maria Amirkhanyan, Head of Gaming Division at Duamentes.

Duamentes, a strategic consultancy supporting game developers with research and insight, warns that many studios are still relying on outdated development and publishing models—slow, costly, and disconnected from player behavior.

“What we’re seeing at Duamentes is that indie studios—especially in regions like the Balkans and CEE—are actually ahead when it comes to creativity and agility. What they need now is smarter publishing and better player feedback earlier in the cycle,” Maria added.

What to Expect at FTW! 2025

At FTW!, these challenges and solutions will take center stage. The two-day event is packed with hands-on talks, peer learning sessions, and practical debates on where the industry is heading. Topics include:

• The rise of self-publishing and community funding
• UX and player-first design: why most studios are still getting it wrong
• Lessons from the Balkans: building sustainable studios in emerging markets
• AI, procedural generation, and the future of indie development

And with the Game Slice pitch sessions, new voices will get the stage they need to connect with publishers, without the friction of over-curated investor matchmaking.

A Pan-European Gathering with a Local Soul

More than 500 professionals from across Europe will attend, along with ecosystem leaders and agencies helping shape the future of gaming in their regions. From indie creators and technical leads to narrative designers, UX researchers, and strategists, FTW! is the kind of horizontal event the industry has been missing.

For Duamentes and others working at the intersection of strategy, UX, and product development, FTW! is more than a conference—it's a signal that the European game dev scene is ready to define its own path, one built on collaboration, insight, and smart growth.

“Belgrade is a perfect host for this kind of event. It’s accessible, vibrant, and packed with emerging talent. The region has always punched above its weight in game development,” said one of the organizers.

If you’re building games, publishing them, or investing in studios across Europe, FTW! is your chance to connect with those shaping the next wave of innovation—not in a booth, but over real conversation.

Whether you're an indie team looking to pitch, a publisher scouting fresh talent, or a strategist tracking player behavior—this is the moment to be in Belgrade.

FTW! – It’s not just a conference. It’s the future of European game dev, face to face.

Want to learn how to make better, player-first games? Download the full Duamentes Gaming Report 2025 or reach out to the team at welcome@duamentes.com.

The question of when — or whether — artificial intelligence will replace human labor is no longer just hypothetical. While full-scale job replacement remains uneven and industry-dependent, recent trends point to AI already reshaping how and whom companies hire — especially at the entry level.

According to new findings from SignalFire, a data-focused venture capital firm tracking workforce activity across LinkedIn’s 600 million+ user base, early indicators suggest AI is beginning to influence hiring patterns in the tech industry. Their data shows a sharp decline in hiring fresh college graduates in 2024, coupled with increased demand for more experienced workers — a signal that automation might be pushing out entry-level opportunities.

Fewer Open Doors for Grads

SignalFire’s analysis reveals that the top 15 Big Tech companies cut graduate hiring by 25% in 2024 compared to the year before. Startups also followed suit, decreasing their entry-level intake by 11%. While the firm didn’t share the exact headcount drop, a spokesperson confirmed that the number was in the “thousands.”

Asher Bantock, SignalFire’s Head of Research, attributes a significant portion of this shift to AI’s growing capability:

“There’s mounting evidence that generative AI is reshaping the type of talent companies prioritize. Many entry-level tasks — once a gateway for new grads — are now automated.”

It’s not just a question of preference. Entry-level roles often involve routine, repeatable tasks that generative AI now handles with surprising efficiency — from financial modeling to writing code and generating market research. This means roles traditionally reserved for junior analysts or developers may no longer require human input — or as many humans, at least.

“I Built a Tool That Does My Old Job”

Gabe Stengel, founder of AI startup Rogo and a former investment banker, illustrated this point bluntly during a recent fintech summit:

“Back at Lazard, I spent weeks doing diligence on biotech targets. Rogo now does most of that in minutes — reviewing financials, building decks, even surfacing red flags.”

And while investment banks haven’t officially slashed junior hires due to AI, reports from outlets like The New York Times suggest some firms have quietly debated hiring fewer analysts or reducing compensation, citing a lower workload thanks to AI tools.

Experience Is the New Entry Point

Yet while doors may be closing for graduates, they’re opening wider for mid-level professionals. SignalFire’s data shows a 27% jump in Big Tech hiring for individuals with two to five years of experience in 2024. Startups also increased hiring in this cohort by 14%.

“Companies want professionals who can hit the ground running — and use AI productively,” said Heather Doshay, SignalFire’s talent partner. “They’re not looking for blank slates anymore.”

This shift leaves today’s graduates in a familiar but now AI-intensified bind: No job without experience, no experience without a job.

The New Skill Baseline

So what can graduates do? Adapt — fast.

“Your best bet is to become fluent in the tools changing the market,” Doshay advised. “AI might automate tasks, but it can’t replace people who know how to direct, train, and get the most from it.”

This means skills in tools like ChatGPT, GitHub Copilot, Claude, and AI research platforms aren’t just resume boosts — they’re baseline expectations in many roles.

A Tipping Point

While the long-term impact of AI on employment remains in flux, the present-day effects are becoming clearer. AI isn’t replacing all jobs — it’s replacing the pathways into them. For young talent entering the workforce, the rules of the game have changed. The challenge now is not just to get your foot in the door — it’s to prove you can do what the AI can’t.

Or, at the very least, prove you can do it better.

Saudi-backed AI firm Humain is preparing to launch a $10 billion venture capital arm, signaling one of the most ambitious plays yet from the Kingdom in the global AI and tech investment space. The new fund, Humain Ventures, will target high-growth startups across North America, Europe, and Asia, according to comments by CEO Tareq Amin reported by The Financial Times.

The move reflects Saudi Arabia’s broader strategy to accelerate its technological influence and economic diversification — positioning itself not only as a key consumer of AI infrastructure but also as a proactive investor and co-developer in the global innovation ecosystem.

Strategic Talks with Silicon Valley Heavyweights

Humain is reportedly in discussions with leading U.S. tech players, including Andreessen Horowitz, OpenAI, and Elon Musk’s xAI. While the full list of potential partners remains under wraps, Amin hinted that talks are ongoing with “some of the biggest names in the data center space” regarding a possible equity deal involving Humain’s infrastructure arm.

These conversations come at a pivotal time. Under a new initiative led by the returning Trump administration, U.S. technology providers such as Nvidia and AMD have been cleared to deepen ties with Saudi firms — a geopolitical shift that’s enabling Humain’s bold expansion plans.

Global Scale, Regional Leverage

Though Humain was officially unveiled only recently, it has already secured deals with Qualcomm, Nvidia, AMD, and Amazon. The company aims to build 1.9 gigawatts of data center capacity by 2030 — a number that would place it among the global infrastructure giants.

Its stated mission? To handle 7% of the world’s AI training and inference capacity within the next five years. The projected total investment for this AI buildout? A staggering $77 billion, according to Amin.

“We’re not just participating in the AI revolution — we intend to shape it,” Amin said during a recent industry roundtable.

Implications for Global Startups

The launch of Humain Ventures adds a powerful new player to the global VC landscape — and one with significant sovereign backing. Startups in AI infrastructure, chips, cloud services, LLM tooling, and AI-native applications could find in Humain not just a source of capital, but a strategic ally offering regional scale and access to fast-growing markets across the Gulf and Asia.

With both political momentum and financial firepower, Humain is poised to become a central figure in the next wave of AI investment — and a sign of how nations are now competing not just for economic growth, but for algorithmic advantage.

OpenAI is exploring a new frontier in consumer technology: allowing users to sign in to third-party apps using their ChatGPT credentials. A new page quietly published on the company’s website this week reveals that OpenAI is inviting developers to express interest in integrating this authentication feature into their own platforms.

With ChatGPT now boasting an estimated 600 million monthly active users, OpenAI appears to be positioning itself not just as an AI provider, but as a foundational layer for digital identity — following in the footsteps of tech giants like Google, Apple, and Microsoft, all of which offer streamlined sign-in solutions across the web.

From AI Chatbot to Consumer Identity Layer

The potential feature — dubbed “Sign in with ChatGPT” — could provide users a faster and more seamless way to access external apps using their existing ChatGPT accounts. Beyond convenience, this move could help OpenAI extend its brand and presence deeper into e-commerce, social platforms, developer tools, and even smart devices.

Earlier this month, OpenAI began testing the waters by rolling out a limited preview of the feature through Codex CLI, its open-source terminal-based coding tool. The integration allowed developers to link their ChatGPT Free, Plus, or Pro accounts to OpenAI’s API infrastructure — with added incentives: $5 in API credits for Plus users and $50 for Pro users.

A Call for Developers of All Sizes

OpenAI’s interest form for developers signals ambitions for wide adoption. The form caters to teams ranging from startups with under 1,000 users to apps servicing 100+ million users weekly. It also probes whether these companies are already paying customers of the OpenAI API and how they monetize AI features.

“We’re looking to support apps at every scale,” the company notes, suggesting OpenAI aims to make its identity feature relevant both for indie developers and global platforms.

This isn’t the first time OpenAI has hinted at plans to expand its identity offerings. CEO Sam Altman floated the idea of a “Sign in with OpenAI” function back in 2023. While the concept has lingered in the background, the company now seems to be actively building it out in 2025.

What This Could Mean

If fully deployed, “Sign in with ChatGPT” could:

• Streamline user onboarding for AI-powered tools.
• Encourage developers to embed more OpenAI integrations in their apps.
• Create new data-sharing and personalization opportunities (raising privacy and ethics considerations).
• Position OpenAI as a central player in the identity and access management (IAM) space, beyond just AI APIs.

Still, many questions remain: When will the sign-in option become widely available? Which companies will adopt it first? And how will it handle user privacy, consent, and cross-platform authentication?

At time of publishing, OpenAI had not responded to inquiries about the rollout timeline or initial partners.

But one thing is clear: OpenAI isn’t content to stay in the chatbot box. With identity, infrastructure, and authentication now in play, the company is increasingly shaping not just how we use AI — but how we log in to the internet itself.

In a bold step toward strengthening its enterprise AI capabilities, Salesforce has acquired Informatica, a veteran cloud data management company, in a deal valued at $8 billion. The all-equity transaction, announced Tuesday, underscores Salesforce’s ongoing strategy to embed deeper data intelligence into its growing AI ecosystem.

Salesforce will pay $25 per share in cash for Informatica’s Class A and B-1 common stock, factoring in its existing equity stake. The acquisition not only enhances Salesforce’s product suite but also reinforces its commitment to building out the data backbone necessary to scale autonomous AI agents across enterprise environments.

From Denial to Deal

The deal comes nearly a year after speculation first surfaced about a possible tie-up between the two companies. At the time, Informatica denied any sale was on the table, and both firms’ stock prices dipped amid investor concerns about overlap and integration risks. Fast forward to 2025, and the scenario has flipped — the acquisition is now finalized, marking a significant realignment in the enterprise AI and data space.

Founded in 1993, Informatica serves more than 5,000 customers across 100+ countries, and had a market capitalization of $7.1 billion at the time of the deal. Its technology stack includes data integration, governance, and security solutions — all of which are increasingly vital as companies deploy AI more widely across core business operations.

AI-First Strategy at Scale

Salesforce’s ambitions in AI go far beyond chatbots and predictive analytics. This acquisition is aimed at strengthening Agentforce, Salesforce’s initiative focused on AI-driven automation across its platforms like Data Cloud, Tableau, MuleSoft, and Customer 360.

“Together, we’ll supercharge our entire ecosystem of AI agents with deeper intelligence, stronger data governance, and real-time context,” said Salesforce CEO Marc Benioff. “It’s a pivotal move in our mission to build safe, responsible AI for every enterprise.”

Informatica’s tools are expected to provide the scalable infrastructure and data safeguards that Salesforce’s AI models and autonomous agents need to operate reliably in regulated industries and global markets.

Building a Data Powerhouse

This isn’t Salesforce’s first bet on the data management space. In September 2024, it acquired Own Company, a specialist in SaaS data protection, for $1.9 billion. These back-to-back moves indicate a growing recognition within Salesforce that control over data pipelines and governance is key to delivering AI that’s not only powerful, but enterprise-ready.

“In the AI era, data security and clarity are non-negotiable,” said Steve Fisher, general manager at Salesforce. “With Informatica, we’re arming our platforms with the best data foundation possible.”

What This Means for the Industry

Salesforce’s acquisition of Informatica signals a broader trend: as generative AI becomes embedded into enterprise workflows, the value is shifting to companies that can connect, clean, govern, and activate data at scale. This move could prompt other tech giants — including Microsoft, Google, and Oracle — to make similar plays to shore up their AI stacks with battle-tested data infrastructure.

The integration process will be closely watched, particularly after earlier investor skepticism. But if Salesforce can pull it off, it may well set a new standard for what enterprise AI platforms can do when built on a truly integrated, intelligent data core.

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Key Takeaways:

• $8B acquisition strengthens Salesforce’s AI and data infrastructure.
• Informatica brings 30+ years of experience in data integration and governance.
• Deal positions Salesforce to scale its Agentforce and AI-first enterprise products.
• Follows Salesforce’s earlier $1.9B acquisition of Own Company for data protection.

With AI agents moving from prototypes to production, this deal is a reminder that data remains the real currency of enterprise AI success.

Bridging the Gender Gap in Tech Through Data, Insight, and Action

Paris / London, May 2025 — As AI becomes a cornerstone of the global economy, a key question arises: Who will shape its future? 4girls.ai, an EdTech initiative founded by ex-Microsoft leaders and AI experts, is taking action by launching the AI Literacy Index Study—a groundbreaking global research project designed to measure and accelerate AI literacy among girls aged 6 to 18 across more than 60 countries.

This first-of-its-kind study will assess awareness, access, and confidence levels in AI-related knowledge among young girls—providing data that educators, governments, and tech companies can use to inform policies, programs, and funding strategies. The initiative is especially critical in regions where educational gaps threaten to widen the digital divide.

“We’re not just measuring literacy—we’re measuring the future of innovation,” says Irene Varfolomeeva, Co-Founder of 4girls.ai. “AI is shaping everything from healthcare to climate solutions, and half the population must not be left behind.”

Why It Matters Now

Despite global efforts to promote STEM education, girls still represent less than 30% of the world’s AI talent pipeline. The AI Literacy Index aims to change that by spotlighting where the biggest gaps are—and where the fastest progress can be made.

The study will use a mixed-methods approach, combining surveys, interviews, and collaboration with local schools and tech hubs. It will also explore how AI is perceived among different age groups and cultural contexts—offering a nuanced map of opportunity and urgency.

“We need to stop guessing and start investing based on real data. The Index will show us where the future female AI leaders are—and where support is needed most,” adds Varfolomeeva.

A Call to Partners and Investors

4girls.ai is actively seeking strategic partners to co-develop the study and scale its impact—especially from big tech, education ministries, and CSR-focused investors. Companies that join the initiative will gain early access to country-specific insights and a chance to shape AI education where it matters most.

In addition to the Index, 4girls.ai runs an AI Learning Lab, offering video-based courses, mentorship programs, and internship pipelines with industry leaders. Their ambition is bold: empower 1 million girls with AI literacy by 2030.

The Opportunity

For forward-thinking investors and partners, the AI Literacy Index is more than a research project—it’s a signal of where the next wave of talent, innovation, and inclusive growth will come from. As the world builds AI ecosystems, 4girls.ai ensures that girls are not just consumers of technology—but creators, leaders, and changemakers.

Join the Mission

To learn more or become a strategic partner in the AI Literacy Index Study, contact partnerships@4girls.ai or visit www.4girls.ai

As artificial intelligence (AI) rapidly transforms industries, the need for responsible AI has never been more urgent. In September 2025, the Responsible AI Summit will bring together global thought leaders, technologists, policymakers, and researchers to explore how AI can be developed and deployed ethically, transparently, and responsibly.

AI holds immense potential to drive innovation, enhance productivity, and improve lives across the globe. However, its transformative power comes with significant ethical, social, and regulatory challenges. The Responsible AI Summit 2025 will address these concerns head-on, with a focus on the need for frameworks, standards, and practices that ensure AI serves humanity and respects fundamental rights.

Key Themes and Discussions

AI Governance and Global Standards

With AI technologies transcending borders, the need for international cooperation in AI governance is critical. The summit will feature experts discussing the importance of developing global standards to guide AI development and ensure it is used responsibly. Thought leaders like Anja Kaspersen, former Director at the United Nations Office for Disarmament Affairs, will discuss how international frameworks can help guide the ethical deployment of AI, ensuring it aligns with societal values across cultures.

Trustworthy and Transparent AI

One of the main topics at the summit will be the growing call for explainable AI and transparent models. AI systems must be accountable, with clear explanations of their decision-making processes. Experts like Dominique Shelton Leipzig, founder of Global Data Innovation, will address the importance of data transparency, privacy, and building trust in AI systems, particularly as these systems become more ingrained in industries such as healthcare and finance.

Ethical AI in Practice: Real-World Applications

The summit will also dive into how responsible AI principles can be effectively integrated into AI technologies and business operations. Speakers from leading companies, including Emma Duckworth, Head of AI & Data Science at Haleon, will provide insights into how sectors like pharmaceuticals are implementing AI responsibly, ensuring patient safety, privacy, and data ethics are maintained.

Tackling Bias and Ensuring Fairness

AI systems often face challenges related to bias, whether in data, algorithms, or the outcomes they produce. This year's summit will feature discussions on overcoming bias in AI systems, with a special focus on fairness. Experts will explore how businesses can develop AI that is inclusive and free from bias, ensuring equitable outcomes for all users.

The Future of AI in Security

As AI plays a critical role in cybersecurity, the summit will address the evolving threats posed by malicious use of AI. Balakrishna D. R. (Bali), Executive Vice President at Infosys, will lead discussions on AI model security, exploring how organizations can secure AI-driven systems against cyberattacks while safeguarding sensitive data.

Why You Should Attend

The Responsible AI Summit 2025 is not just another tech event; it’s a pivotal opportunity for anyone invested in the future of AI to gain actionable insights into how AI can be developed and deployed responsibly. Whether you’re a policymaker, business leader, or AI researcher, the summit will equip you with the tools and knowledge necessary to navigate the ethical complexities of AI.

From navigating AI legislation to understanding the latest in AI technologies, the Responsible AI Summit will be a defining moment in the conversation on AI ethics. The discussions will challenge us to rethink how AI can truly benefit society, while ensuring fairness, security, and accountability.

With renowned experts like Irakli Beridze, Head of the UNICRI Centre for AI and Robotics, contributing to the debate, this event promises to be a critical milestone in AI governance.

As AI continues to advance at an unprecedented pace, the Responsible AI Summit 2025 is an unmissable opportunity to be part of the global conversation on AI ethics. By fostering dialogue on governance, transparency, fairness, and accountability, the summit is a critical step toward shaping an AI-powered future that benefits everyone.

For more information and to register, visit the Responsible AI Summit website.

In a move to support meaningful learning over quick solutions, OpenAI has launched a new feature within ChatGPT called Study Mode. Designed for students and lifelong learners, this tool is meant to help users build critical thinking skills by encouraging thoughtful engagement rather than passive answer collection.

With Study Mode activated, ChatGPT shifts its approach. Instead of offering direct answers right away, the AI engages students with guiding questions, challenges their assumptions, and invites them to explain their reasoning. The goal is to create an interactive learning experience that mirrors tutoring rather than spoon-feeding.

This feature is now being introduced to users across various subscription plans, including free and premium tiers, with plans to extend access to educational institutions soon. According to OpenAI, the rollout is part of a broader effort to redefine how generative AI fits into classrooms and study routines.

As AI tools become increasingly embedded in education, concerns have grown around dependency and the erosion of independent thinking. Many educators have raised questions about students using ChatGPT as a shortcut, bypassing the process of learning altogether. Study Mode attempts to counteract that trend by prioritizing the process of understanding rather than the end result.

While some AI companies have introduced similar tools—Anthropic’s Claude, for example, added a “Learning Mode” earlier this year—OpenAI’s offering is unique in its flexibility. Students can still choose to disable Study Mode at any time, though this raises questions about how effective the feature will be without enforcement mechanisms.

Leah Belsky, OpenAI’s Vice President of Education, has acknowledged that while Study Mode depends on the student’s own motivation, the company may explore adding settings for parents or teachers to encourage more consistent use in academic environments.

Ultimately, the success of Study Mode hinges not just on the technology itself, but on how students choose to engage with it. For those willing to do the work, it could become a valuable companion in developing lasting knowledge and independent thinking—skills that AI can't replace.

Author: Veronica Baciu

San Francisco, CA — Lovart, a new AI design startup founded by former ByteDance senior product director Melvin Chen, has emerged from stealth with what it calls the first fully integrated “AI Design Agent.” The platform promises to condense the traditionally fragmented and weeks-long creative process into minutes, producing everything from brand kits to videos from a single prompt.

Unlike conventional AI design tools that focus on specific tasks, Lovart’s platform is built for end-to-end campaign creation. It generates professional-grade assets — including brand identity systems, UI mockups, packaging designs, and motion content — in formats compatible with tools like Figma, Photoshop, and After Effects.

Creative reasoning, not just generation

Lovart’s core technology is a “Mind Chain of Thought” reasoning engine designed to emulate the strategic thinking of a creative director. A multi-agent architecture assigns specialized AI agents to different disciplines — logo design, typography, motion graphics — while a context synchronization layer ensures all outputs adhere to a unified brand strategy.

The platform also features “canvas as context,” allowing it to continuously analyze assets on an infinite design canvas and adapt recommendations accordingly. This contextual intelligence keeps campaigns visually consistent across formats without manual input.

From strategy to pixels

Lovart’s workflow begins with market and audience analysis, translating those strategic insights into tactical design decisions — an approach the company calls “strategy-to-pixel” automation. The system builds short-term memory for campaign-specific choices and long-term memory for a user’s overall style, enabling increasingly personalized outputs over time.

Viral beta and enterprise interest

Lovart’s invite-only beta, launched in May, quickly gained traction after an AI-generated coffee brand project went viral online. Within days, the waitlist hit 100,000 users; today, the company reports over 800,000 beta users in 70+ countries. Early adopters include Y Combinator startups and growth-stage companies using the tool to cut creative production costs.

The platform has also cultivated a community through “Agent Battles” on Discord, where human designers compete against the AI in real-time challenges.

Positioning in a competitive market

While funding details remain undisclosed, Lovart is reportedly backed by notable investors. The startup enters a crowded AI design market that includes Canva, Adobe, Figma, and specialized AI tools like Runway and Midjourney. Unlike many rivals, Lovart positions itself as a vertically integrated solution rather than a point tool.

Lovart is now publicly available at lovart.ai, offering free, basic, and pro subscription tiers.

Google will unveil its Pixel 10 lineup at a Made by Google event in New York on August 20, alongside new Pixel watches, earbuds, and accessories. Official teasers reveal a familiar design with a new blue-gray finish, but leaks suggest more notable upgrades under the hood.

Triple-lens cameras for all

For the first time, the base Pixel 10 is expected to feature a triple rear camera system, including a telephoto lens. However, reports indicate smaller main and ultrawide sensors than last year’s Pixel 9, potentially reducing image quality. The 10 Pro and 10 Pro XL are said to retain last year’s higher-end camera hardware, while the foldable 10 Pro Fold will match the base 10’s main and telephoto specs.

Fresh colors and design tweaks

Leaked renders point to bolder hues for the Pixel 10 — including “Indigo,” “Frost,” and “Limoncello” — while the Pro models will stick to muted tones like “Moonstone” and “Jade.” The 10 Pro Fold may skip black entirely, shipping only in “Moonstone” and “Jade.”

Qi2 charging and bigger batteries

The Pixel 10 series is expected to support the Qi2 magnetic wireless charging standard at 25W, a first for Google. The addition of magnets may explain slight weight and thickness increases across most models, which could also house larger batteries.

A new Tensor chip and AI focus

The new Tensor G5 processor, manufactured by TSMC on a 3nm process, promises faster performance and improved efficiency. AI features are also set to expand, with tools like “Speak-to-Tweak” voice photo editing, “Camera Coach” shooting tips, and the on-device “Pixel Sense” assistant that learns user preferences and integrates across Google services.

Pricing and release

US pricing is expected to remain similar to last year: Pixel 10 from $799, Pixel 10 Pro from $999, and Pixel 10 Pro XL from $1,199. The Pixel 10 Pro Fold will start at $1,799, with a new 1TB option for $2,149. Most models could launch on August 28, while the Fold may be delayed until October 9.

The World AI Summit this year wasn’t about shiny demos or bold promises. It was about startups quietly building the future of artificial intelligence with grit, code, and collaboration. The vibe felt more like a startup week in full swing than a global conference filled with suits and slogans.

Everywhere you looked, early-stage founders were pitching edge ideas in healthcare, energy, and mobility. Most of them weren’t chasing hype. They were trying to solve something real. A team from Barcelona showed a model that predicts energy use in public buildings with scary accuracy. Another, from Lagos, built a conversational agent that helps small shops manage cash flow in local dialects.

If there was a theme this year, it was “AI for use, not for show.” Investors echoed that too. Panels kept circling back to the same idea: the age of “let’s see what AI can do” is over. The next phase is all about implementation, efficiency, and trust.

One investor described it best: “We’re done with demo decks. We want to see data pipelines, integrations, and customers.”

The startups that stood out were not the ones with fancy branding or vague mission statements. They were the ones who had already embedded AI in something tangible. A fintech team from Berlin showed how they use adaptive learning to detect credit risks in seconds. An education startup from Tallinn had already deployed their AI tutor in five languages across Eastern Europe.

Even the corporate stands seemed to take a cue from startup culture. Fewer corporate banners, more working prototypes. Tech giants were scouting small teams to plug into their ecosystems rather than announcing new products.

Behind all the excitement, though, there was a clear shift in tone. People weren’t talking about “the AI revolution.” They were talking about cost control, security, and scaling responsibly. The big question wasn’t “what can AI do?” but “who will actually use it?”

The World AI Summit, in that sense, felt less like a tech parade and more like a working session for the people shaping the next wave of AI products. It showed how the center of gravity in AI innovation keeps moving toward startups who care more about traction than talk.

And that’s good news. Because if AI is going to live up to its promise, it will be built not in labs or corporate offices, but in shared workspaces, over coffee, by people who ship

Every November, Lisbon turns into something between a festival and a battleground for founders. The Web Summit is not just another conference on the global tech calendar anymore. It’s the week when the startup world comes to life — where decks meet investors, new ideas get their first audience, and the next wave of tech optimism takes shape in real time.

This year, the tone feels different. The banners still flash words like innovation and future, but the conversations are more grounded. Founders are talking about margins, sustainability, and long-term trust. Investors are asking for proof, not promises.

At the heart of it all, startups are leading the show. Over 2,600 of them are set to pitch, demo, and debate across Lisbon’s vast Altice Arena and pavilions. From AI-driven climate forecasting to fintech tools designed for migrant workers, the projects reflect a clear shift — technology serving purpose over hype.

“Founders this year are sharper,” says one early-stage investor from Berlin. “You can feel they’re building with constraints in mind. Nobody’s chasing unicorns anymore. They’re chasing relevance.”

That sense of realism runs through the entire agenda. Panels on generative AI have evolved from excitement about models to discussions about governance and cost control. Fintech sessions are filled with talk about regulation and transparency, not just disruption. Sustainability, once a side note, now drives entire stages.

In the middle of it all, young teams are using the summit as their launchpad. A group from Warsaw is debuting an AI system that predicts traffic flows for electric buses. A Barcelona-based startup is showing how machine learning can help small retailers manage energy consumption. These aren’t speculative prototypes. They’re ready-to-scale solutions.

Web Summit has always been part tech carnival, part survival test for founders. You can walk from a booth hosted by a 20-year-old solo founder to a fireside chat with a global CEO in under a minute. The atmosphere is noisy, fast, and full of unfinished conversations that somehow turn into deals.

For many, it’s not just about visibility. It’s about belonging to a global network that runs on coffee, curiosity, and quick pitches. “Lisbon in November feels like the world’s biggest coworking space,” says one participant from Nairobi. “Everyone’s working on something, and you can’t help but get pulled into it.”

The real lesson from this year’s summit might be that startups no longer see themselves as the underdogs. They are the center of gravity in a tech industry learning to grow up. Amid the flash and chaos, Web Summit 2025 feels like a mirror of what tech has become — more responsible, less inflated, and quietly more ambitious.

For those heading there, it’s not a conference to attend. It’s a week to participate in — a working sprint disguised as a global event. And that’s exactly what makes it the startup world’s favorite ritual.

Slush has always felt like a ritual for founders. For two days each November the Messe Helsinki becomes a compressed universe of pitches, late night meetings, frantic coffee runs, and idea collisions. This year Slush returns on November 19 and 20 with a familiar claim, but it matters more than ever: the most founder focused event on earth. Slush+1

If you came to Slush expecting only spectacle, you will still find it. But the dominant mood has shifted. Conversations that once orbited around the future now focus on scaling, governance, and realistic path to revenue. That is no accident. The event has sharpened its programming and its prizes to reward startups that can show traction today and durability tomorrow. The Slush 100 competition sits at the centre of that promise, offering a headline prize of one million euros in equity funding to a single early stage team each year. Slush

Last year’s Slush 100 winner shows what the jury is looking for. In 2024 OASYS NOW, a Dutch healthtech startup that aims to make personalised healthcare more accessible, took the top prize. Coverage after the event picked out the company as an example of the type of startup Slush wants to launch into the mainstream of venture capital. That win sends a clear message, namely that healthtech, applied AI for real world problems, and teams able to prove early clinical or commercial traction are in focus. Tech.eu+1

Trends you will hear about in Helsinki this year are not new, but they are maturing. Expect deep debates and practical sessions on AI, climate tech, and healthtech, with a strong undercurrent of investor scepticism about the next funding round. Panels are less dazzled by generative model demos and more interested in cost to serve, data governance, and integration into existing workflows. Slush’s own programming language reflects that founder focus, with stages curated to help operators and early stage teams solve real business problems. Sesamers+1

Speakers and sessions mirror the shift. Slush 2025 has already announced a high quality roster, mixing founder voices and senior operators who can talk about scaling companies in plain language. Expect intimate founder stories on the startup stages, hands on masterclasses for pitching and hiring, and investor panels that ask the tough questions about runway and defensibility. The point is not to dazzle, it is to equip. Slush+1

Competitions remain a headline attraction, but they are also a lens into the ecosystem. The Slush 100 is the biggest, with a clear formula aimed at very young companies that have raised under two million euros and were incorporated recently. Beyond the headline million, Slush runs dozens of curated matchmaking programs and side events that turn the city into an entire week of deal flow and community building. Winning or even just being seen in these programs can translate into investor intro, pilot deals, or a first enterprise customer. Slush+1

What should founders and investors watch for on the ground? First, look for evidence of product market fit, not promises. Be prepared to show hard metrics, from retention numbers to unit economics. Second, keep an eye on climate tech that focuses on measurable impact and cost savings, as well as healthtech where regulation and measurable outcomes create defensibility. Third, expect founders from outside the usual hubs to make noise. Slush has long been a gateway for teams from Central and Eastern Europe, Nordics, and beyond, and this year that international mix is only stronger. Sources covering the event note a renewed attention to the practical problem sets that real customers will pay to solve. ComplexDiscovery+1

Voices from the floor capture the tone. Slush describes its mission as helping and creating founders to change the world. That framing is upbeat but purposeful. For founders that means Slush is both a stage and a workshop, a place where the right conversation can turn into a pilot, and where the right investor can turn into a long term partner. Slush

What this all adds up to is a Slush that feels more like startup week than a tech showcase. There will be spectacle, and there will be big name keynotes. But the most important work happens in the margins, in booth demos that show repeatable revenue, in side meetings that turn into letters of intent, and in the smaller competitions where domain expertise trumps glitter. The recent pattern of winners and programming choices suggests the event organisers and investors are sharpening their view. They want businesses you can evaluate with a spreadsheet and a pilot contract, not a whitepaper. Tech.eu+1

If you are planning to go, come ready. Prioritise meetings that could lead to concrete next steps. Prepare a one page data room, and be brutal about your ask. Slush will give you visibility. What you do with that visibility matters. For the right team, Helsinki in November remains one of the fastest paths to scale, because Slush still concentrates attention, capital, and decision makers into a single, intense week. Slush

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