FOR IMMEDIATE RELEASE:
Winners selected from finalists from city competitions held across Eastern Europe and the Mediterranean win trip to global finals with $1M in Funding Opportunities
Washington, D.C. and Tel Aviv, Israel — Tonight 1776 announced the five winners from the Tel Aviv Challenge Cup Regional Finals. These startups, chosen from hundreds of competitors from cities across the region, now move on to represent their countries on the worldwide stage at the Challenge Cup Global Finals in Washington, D.C., taking place in June.
Challenge Cup is an annual global tournament spanning more than 50 cities and covering six continents, to find, fund and spotlight highly scalable startups with potentially transformative solutions to our world’s most pressing challenges. Held in partnership with Revolution and Global Entrepreneurship Network, the competition takes place in three levels — local competitions, nine regional finals and the global final to be held in Washington, D.C., in June 2016. High-growth startups compete for $1 million in cash prizes and funding, media opportunities and curated connections to mentors, corporate partners, policymakers and potential investors.
The Tel Aviv event showcased both the city’s most compelling startups and the companies that advanced from local competitions held in Budapest, Kyiv and Warsaw. In addition to participating in the pitch event, competing startups also joined a two-day, pop-up accelerator program delivered by the 1776 CEO, industry partners such as IDB, Philips and AWS, and other key executives where the entrepreneurs receive pitch coaching and one-on-one mentoring sessions.
“Eastern Europe is increasingly home to so many inspiring entrepreneurs who are building high-growth startups to bring solutions to some of our world’s biggest challenges,” said Donna Harris, co-founder of 1776. “I’m so pleased that we can give these extraordinary companies an opportunity to present their vision on the global stage and connect to the resources and relationships they need to be successful.”
The winners are as follows:
Convexum (Tel Aviv, Israel): Convexum is a pioneering cyber company for physical security problems, focusing on commercial drones. The company tackles the problem of uncontrolled or malicious use of commercial drones near or over secured perimeters and protects these areas from various threats such as espionage, airborne chaos and public disorder, smuggling, and airwave rights violations.
GEMON (Tel Aviv, Israel): Gemon combines interactive computer games with physical rehabilitation and fitness equipment. Gemon’s mission is to help people with disabilities worldwide in achieving and maintaining physical and mental health in a fun and engaging way.
HelpAround (Tel Aviv, Israel): HelpAround’s mission is to alleviate the daily struggles of chronic patients and caregivers. The HelpAround platform allows organizations to match patients with appropriate resources to improve patient access to care.
OffLa (Tel Aviv, Israel): The patent pending OffLA Approved risk-based security system offers frictionless customer experience for 92 percent of the mobile wallet transactions and dramatically reduces fraud costs.
Route4u (Budapest, Hungary): Route4u provides strategic mapping for public transportation.
For more information about the Challenge Cup, click here.
1776 is a global incubator and seed fund that uncovers promising highly scalable startups focused on solving the world’s most fundamental challenges and helps engineer their success. 1776 focuses on startups in the most broken, entrenched industries and sectors that impact millions of lives every day – specifically education, energy, health and cities. From its headquarters in Washington, D.C., it is sparking a global movement of high-growth startups driving meaningful innovation through its Challenge Cup and Startup Federation, the premiere network of incubators throughout the world. For information, please visit www.1776.vc or follow us on Twitter @1776.