Welcome to the retrospective journey through InnovX's transformative year - a narrative woven with threads of innovation, exponential growth and a deepened sense of community. As we delve into the pages of this review, the story of 2023 unfolds as a testament to InnovX's commitment to pushing boundaries, embracing change and fostering a vibrant community of collaborators and contributors. Established in 2019, InnovX has rapidly become a cornerstone in the landscape of business acceleration. As a dedicated business accelerator, InnovX specializes in propelling innovation within the realms of technology startups and emerging venture capital funds. With a clear vision and a mission to drive positive change, InnovX has strategically positioned itself as a catalyst for transformative ideas and a facilitator for the growth of promising ventures. Throughout the whirlwind of 2023, InnovX has continued to uphold its commitment to fostering innovation, supporting startups and contributing to the evolution of the venture capital ecosystem. InnovX stands as a dynamic hub dedicated to fueling the next generation of innovators and disruptors and at its core is a vibrant and young implementation team. With a deliberate focus on nurturing fresh perspectives and talents, InnovX has become more than just a business accelerator; it's a place of learning, collaboration and daily magic. Their strategic vision and relentless pursuit of innovation led to the successful launch of new products and the establishment of key partnerships. Their leadership not only propelled the company's growth but also inspired their team to new heights of achievement. The team includes the Founders: Diana DUMITRESCU, PhD. , the operational maestro ensuring seamless execution and Daniel Dumitrescu, PhD. , the visionary constantly pushing the boundaries; The Junior Team: Bianca Păcurar, the creative spirit infusing care into every endeavor; Stefan Ioan Luca, the executor translating visions into actions; Maria Neacsu , the inquisitive mind consistently asking the right questions ; Vlad Maftei, the jovial personality injecting humor into the workplace and Ramadan Omar the master of web design, turns ideas into stunning websites. At the heart of InnovX's extended core team are a group of seasoned mentors whose wisdom and expertise serve as guiding lights for every program and endeavor. Here e couldn't go without mentioning The Senior Team: Ana Bobirca, Silviu Florea, Nicu Iancu, Madalina Hagima Hristescu, Bogdan Hristescu, Maria-Luiza Jipescu, Emanuel Cernat, Bogdan Stefan, Delia NECULA, MBA
Central to InnovX's ethos is the profound understanding that the strength of any innovation ecosystem lies in the collective power of its community. Beyond the immediate scope of our programs, InnovX is deeply committed to creating and empowering an international innovation ecosystem. The community, comprised of startups, mentors, partners and supporters, forms a dynamic network where ideas converge, collaborations flourish and breakthroughs are born. InnovX's commitment extends beyond individual success stories; it is about fostering a collaborative spirit that transcends borders, creating a global tapestry of innovation.
The milestones achieved by InnovX in the past year have been nothing short of monumental, solidifying its position as a pioneer in the innovation landscape.
InnovX Accelerator proudly spearheads the InnovX | Startups Alliance Program, a dedicated initiative catering to international startups, in alignment with the European Innovation Council's (EIC) mission. As an EIC-accredited accelerator, InnovX has earned a distinguished position among only 19 such entities in Europe, with a mere three in Central and Eastern Europe, standing as the sole representative from Romania. This prestigious accreditation grants InnovX unparalleled access to a dynamic network of the most innovative startups and scaleups in Europe, opening doors to valuable funding opportunities and additional resources. InnovX is now strategically positioned to enhance its support for portfolio companies, fostering innovation and empowering visionary ventures across the continent.
At the heart of InnovX's commitment is the acceleration phase, a targeted four-day initiative designed to explore and refine solutions for both existing and potential customers. The rigorous analysis over the first two days is complemented by dedicated efforts in crafting documents for a variety of stakeholders during the subsequent two days. This process culminated in the selection of ten startups for the Matchmaking Phase, a pivotal stage focused on propelling these companies toward scaling-up, commercialization and international success. During the matchmaking phase, the ten selected companies pitch their innovative solutions, engaging with key stakeholders crucial for scaling-up and commercialization. The primary objective is to take tangible steps toward accessing clients, securing investments and garnering support for entering diverse foreign markets. This phase serves as a catalyst for fostering strategic collaborations and propelling businesses toward international success. Throughout this transformative journey, InnovX was supported by a dedicated team of 34 mentors, providing guidance and expertise to the startups as they navigated the challenges and opportunities of scaling-up in the global market. The selection process, involving discussions with over 100 companies and the ultimate selection of 18 from Europe and the affiliated countries (France, Israel, Finland, Greece, Ukraine, Switzerland, Poland, Italy, Portugal) WeCo - Toilet Follow Inspiration, S.A. SiWeGO allpriv Travatar.ai Risewolves Deeplai Pandatron Eazy Chain,Inc. MISU Global Education Technology decarb.earth UpDraw Galileo Satellite Navigation Ltd Genourob - Medical Device Manufacturer My-Money biometric, device-free payments for the fast phase, exemplifies the rigorous standards upheld by InnovX in identifying and supporting the most promising startups on their path to international acclaim.
In its 5th year, the InnovX - BCR programs witnessed unprecedented success across two Innovators Cohorts: Innovators : Startups and Scaleups and the Investors Program.
The InnovX-BCR Innovators Programs, comprising startups and scaleups, each with 10 standout companies, marked a transformative journey for ventures spanning diverse industries. The acceleration phase ushered companies into sectors such as fintech, marketplace, healthtech, edtech, software, martech, greentech, security and manufacturing. Post-program, the impact resonated with impressive numbers: 87 selected companies, including those from key industries, highlighting the breadth of our scouting efforts with 1393 companies scouted. Thirty-three accelerated companies emerged, armed with 64 new certifications, showcasing enhanced skills. Alumni success was striking, raising 12 million euros this year. To cultivate this achievement, 44 events were dedicated to our innovators, fostering collaboration and learning within a thriving community. We are more than happy to be able to say tat we grew our community of alumni with names like Klap Cognitive Creators | Enterprise Digital Transformation easySales Global Autosymed SRL Ask Wire Four Point ZIM Connections Kubeark MOONHOUND Studio RENERGIA Dateligens Systems dMonitor ContApp Jogga Kidprenor FirstServed cautcurier.ro TapTasty HealthFluencer SkillBrain .
Notably, the Investors Program achieved significant milestones, with 275 scouted talents and the selection of 33 investors in the pre-acceleration phase. Subsequently, 25 participants entered the acceleration program, focusing on six diverse VC target industries: MedTech, Finance, Cybersecurity, Agriculture, and Energy. With the support of 30 dedicated mentors, the program hosted over 80 hours of individual mentoring sessions, providing invaluable guidance to participants. The high-stakes competition saw Altium Ventures, Mozaic, Neogen Capital, Progresio Capital, and Infinitree VC emerge as finalists, with Mozaic securing the coveted first place. Noteworthy special awards, including the CEFS Award for Neogen Capital, the Elevator Ventures Award and the RocaX Award for Mozaic, highlighted outstanding achievements. In terms of KPIs, the Investor Program raised an impressive 9.4 million euros from 21 Limited Partners, targeting 24 startups in their deal flow and hosting a total of 16 impactful events throughout the year. The InnovX-BCR programs have undeniably set a standard for excellence, fostering innovation and collaboration within the startup and investor communities.
The InnovX-BCR Program couldn't have had all these amazing achievements without a core team Ana Cretu Ionut Stanimir Anca Luca Catalin Lupoaie and supporters such as Sergiu Cristian Manea Thomas Kolarik Dana Dima Demetrian. We are more than grateful for the mentors Adela Stoicescu Adina Bartos Adrian Rosoaga, CFA Alexandra Ana Maria Vieriu Alexandru Berea Alexandra Petcu ALEXANDRU BADEA Alexandru Buzut Alexandru Codres Alexandru Petcu Ana Maria Samoila Ana-Maria G. Anca Gherasim Anca Iliescu Anca Petcu Munteanu Ancuta Andrada Tudose Andreea Blejan Andreea Vulpe Ava Beznoska Bart Callens Bianca Olimpia Spiridon Bogdan Barbu Bogdan Cernescu Bogdan Enea Bogdan Pasca Calin Lucian Grigoras Carmen Dibus Catalina Porojan Cristian Mustata Cristina Ghimbovschi (Rusu), FCCA Cristian Pascu Daiana Alexe Daniel Nanu Denisa Elena Vlad, PhD Dragos Dorila Dragos Gheorghe Elena Avram Eleonora Bacale Eric Bartha Flaviu Octavian Iliescu Florian Bauer Gabriela Paula Guta George Lucaci Georgiana Alina Cernat Pintilie Georgiana Badea Gina Corina Grigore Ilinka Kajgana Ioana Anca Dobre Ioana Gheorghiade, CFA Ioana Voinescu Katerina Todorovski Lelia Chitu Cozma Livia Liviu Gherghescu 🌌 Lucian Adrian Stroie 💡 Maria Alexandra Țurcanu Maria Alexandra Cismasiu Marian Ignat Marius Adrian Lupu Marius Mazareanu Maurizio Poletto Melania Mirea Mihai Sandu Nicoleta Deliu-Pasol Nicu Grigoras Oana Macoveiciuc Oana Bara Oana Grădinaru Ovidiu Cristian Popa Petr Jirat Petrut Lixandru Rainer Hauser Ramona Crisu Ramona Kurko (Grozea), FCCA Raul Stadler Razvan Ilievici Roxana Elena Halmageanu Sebastian Mihai Staicu Simona Felicia Unchiasu Sorin Visan Stefan Buciuc Teodor Hirsu Thomas B. Tobias W. Seiferth Tonko Fran Grzan Vlad Vitcu Vladimir Daia.
Special mention to Andreea Voinea and Elke Meier for spearheading workshops dedicated to empowering women in business. Recognizing the importance of gender equity, these sessions not only provided valuable insights and skills but also underscored the significance of fostering an inclusive and diverse entrepreneurial landscape. In championing equality, InnovX remains committed to breaking barriers and creating opportunities for women to thrive in the business world.
The InnovX | Academy Program is a pioneering initiative geared towards guiding the next generation in making informed career choices. By bringing together corporates and startups, the program creates opportunities for students to explore diverse professional environments and business opportunities. In collaboration with Microsoft, with the help of Florentina Marilena Ionascu and George Dumitrache we organize events that offer students insights into leading corporations and innovative startups. Partnering with institutions like Universitatea Petrol-Gaze din Ploiești and Colegiul National I.L. Caragiale, our events go beyond traditional career fairs, providing a deeper understanding of workplace culture. Renowned speakers from organizations such as INSPET SA , Klap , KPMG , Explocom GK- Gekka and KIM 4 Industry share their experiences, offering valuable insights and inspiring students as they navigate their academic and professional paths. Through the InnovX | Academy Program, we bridge the gap between education and industry, empowering the next generation for success in the dynamic realms of business and innovation.
Through, in our commitment to comprehensive support, InnovX continued to champion the expansion of ventures into new markets through our extensive network.
Notably, our collaboration with Cristina Dragu 🇬🇧💰🚀 persisted, facilitating soft landings for the UK market. With the assistance of the British Embassy , the Department for Business and Trade and GEP, this initiative exemplifies our dedication to providing startups and scaleups with strategic pathways to navigate and thrive in international markets. This year, InnovX hosted 10 impactful events featuring expert speakers such as Michele Davidson-Jones , Olivia Sibony , Martin Ring , Mr. Christian Kumar 😃 , James Blakemore and Renée Amagada . These events served as dynamic platforms, fostering 24 open collaborations between industry experts and startups from our community. Currently, five active collaborations are underway, showcasing the tangible outcomes of these engagements. In addition, we organized delegations for key industry events, including the UK Wolves Summit and London Tech Week, providing our innovators with unparalleled opportunities for exposure, networking and growth.
In our pursuit of global market entry, InnovX took significant strides in entering the US market, leveraging the expertise of Monica Eremia . This year marked our fourth consecutive participation in SelectUSA , where we proudly led the largest delegation to date. Working in collaboration with the Embassy and AmCham Romania , we orchestrated 12 impactful events, in September having Omar Oweiss as a keynote speaker, further solidifying our commitment to fostering transatlantic partnerships and facilitating seamless market integration. The strategic initiatives undertaken this year exemplify our dedication to providing startups and scaleups with the necessary support and networks to navigate and thrive in the complex landscape of the US market.
Venturing into the Japanese market, InnovX forged impactful collaborations with JETRO - Japan External Trade Organization and Shibuya Startup Support . In a strategic move, we co-organized eight dynamic events, drawing participation from 57 startups eager to explore the vast opportunities in Japan. These events served as invaluable platforms for knowledge exchange and networking. Distinguished speakers, including prominent figures in the Japanese business landscape such as Ueda Hirosi Kentaro Morita Daisuke Kudo Sawaka Takazaki, Ryohei Gamada , Kensuke Nakajima Gabriel Pavel Adrian Zoicas , Kang Somee , Junichi Nakajima (Jun Nakajima) 中島淳一 , Takeichi Osamu, Koichiro Shimamori , Takayuki Kaneko, Atsuo Kubota, yuichi matsuura , Yamagata Terumoto , shared insights and expertise, offering our community a deep understanding of the intricacies of the Japanese market. This concerted effort to facilitate market entry into Japan reflects our commitment to providing startups with the tools and connections necessary for global expansion.
Last year's Coca-Cola HBC Technology Summit was a pinnacle of innovation, featuring an extraordinary pitching session with visionary minds in Digital & Technology from 28 Hellenic countries. The discerning jury, including esteemed members Gerald Lewis , Dan Garbett , Milan Topolic , Ebenezer Onwuama , Elena Kirova , Olga Sapova, Andry Opanasik, Anastasis Liveretos and Cosmin Luca Multescu added a layer of prestige to the occasion. InnovX prorams alumni took center stage, highlighting our vibrant ecosystem that nurtures collaboration between corporations and start-ups. In partnership with Coca-Cola HBC 🇬🇷, InnovX presented dynamic start-ups across various sectors. The event celebrated excellence, with special recognition for outstanding start-ups like KIM4Industry, TapTasty, and Qpick. Notably, KIM4Industry secured the third spot, winning an exclusive mentoring session with Milan Topolic. TapTasty claimed second place and earned the opportunity to present their pitch to Coca-Cola HBC's Venture Team. Qpick emerged as the gold medalist, winning the prestigious chance to implement a Proof of Concept with Coca-Cola HBC. The Coca-Cola HBC & Technology Summit truly embodied the spirit of innovation, collaboration and recognition.
InnovX owes its current standing to the invaluable help and expertise of our mentors. Their guidance has been instrumental in shaping our journey. Brace yourselves, as we're about to share the extensive list of mentors whose unwavering support has been the cornerstone of our success. Alina Irma Orban Adelin Stoica Adrian Seceleanu Aimen Aldahash Alexandru Bogdan Adrian Gheorghe Alex Gavril ▲ Antonela Dragomir, CFA Alin V. Stanciu Ana Bobirca Ana Cretu Anca Gherasim Anca Luca Andrei Hruscovschi Andrei Nae Andrey Vykhodtsev Ava Beznoska Bogdan Putinica Valeri Petrov Belizar Marinov Bogdan Buta Bogdan Năforniţă Bogdan-Ionut Lazaroiu 🌈 Borys Musielak Catalin Lupoaie Ciprian Ladunca Corina Mîndoiu Cristian Carstoiu Cristian Ignat Cristina Bucur Dana Ududec Darya Yanovich Delia NECULA, MBA Alexandru Dincovici Elemér Eszter Gabriel Raicu Florin Roşie György Bodó, PhD Ioan Ovidiu Hotca Ioana Anca Dobre Ioana David Ioana Serban Ionut Stanimir Irina Constantinescu Ivaylo Simov Kamilla Rácz Karol Lasota Katerina Todorovski Liviu Munteanu 🌌 Lucian Adrian Stroie 💡 Marius Adrian Lupu Marius Mazareanu Matteo Baldan, MBA Mihaela Zamfirescu Mircea Ghita Mircea Moraru Mugurel Gheorghe Nikola Yanev Oana Macoveiciuc Ovidiu Kișlapoși Raluca Popa Razvan Clisu Robert Pufan Roxana Alecu Roxana Guiman (Drilea) Sergiu Pop Sonia-Denisa Fedorovici Sorin Visan Stefan Buciuc Suleiman A Timotei Popescu Theodor Alexandru Genoiu Tudor Nedelea Valentin Filip Viktor Minchev Vlad Panait Vlad Vitcu 💫 Ciprian Man Gabriel Pana Linda Võeras Iryna Krepchuk Ilinca Paun Georgi Mitov Rumen Iliev Petar Tsachev Roumen Jordanov Jordan Bocskov Adrian Suteu Andrew Zinchuk Adrian Seceleanu Alexandru Baloi Madalina Popa and many more....
And, of course, a special acknowledgment to our partners who have been integral to our growth. BCR Microsoft Amazon IBM Oracle Vodafone UiPath DLA Piper EY AmCham Romania British Embassy Department for Business and Trade JETRO - Japan External Trade Organization SelectUSA BIRD incubator egg - enter.grow.go Hotspot Startup Grind Bucharest Startup Moldova MIT Professional Education Catalyst Romania cleverage.vc DEPO Ventures Eleven Ventures Fortech Investments Founders Bridge Growceanu Impact Ventures Inovo.vc Morphosis Capital ROCA X Seed Starter ČS SeedBlink SMOK Ventures Sparking Capital ZAS Ventures Bravva Angels Karma Ventures Traction Keys Central European Financial Services SA Trind Ventures Radix Ventures BrightCap Ventures Presto Ventures Transylvania Angels Network (T.A.N.) Ziarul Financiar facultatea de psihologie Technical University of Cluj Napoca Politehnica University Timisoara University of Bucharest Academia de Studii Economice din București Universitatea din Oradea Faculty of Business Administration in foreign languages (FABIZ-ASE) Universitatea „Ștefan cel Mare” din Suceava Voluntari Pentru Idei și Proiecte Romania Constanta Maritime University UNIVERSITATEA PETROL - GAZE DIN PLOIEŞTI
Our heartfelt gratitude goes out to our innovative supporters for embracing fresh perspectives and actively engaging with startups at our events. Your commitment to adopting cutting-edge ideas is fundamental to the success of InnovX. Your collaboration fosters a dynamic ecosystem, propelling both startups and the wider innovation community forward. We deeply appreciate your valuable contributions and look forward to continued partnership on this transformative journey. To many more Coca-Cola HBC MedLife SA Allianz Euroweb Romania Cargill Veranda Mall OMV Petrom Logitech AQUA Carpatica Zitec ClusterPower Electrica eMAG Telekom Romania Mobile National Cyber Security Directorate Booking Holdings (NASDAQ: BKNG) VTEX Promateris Group CREATIVE VR Meta Estate Trust Bolt Globalworth KPMG Affidea Bitdefender and more....
After this remarkable year, our community has achieved impressive milestones, reaching the numbers to be stated below. The collective efforts of our startups have resulted in 47 million euros in funding, 485 skills and certifications attained, and the creation of 233 new jobs. We hosted 234 local events and expanded our global presence with 36 international events. The scouting of 4556 innovators has fueled our ecosystem, leading to significant European investments and grants totaling 40 million euros. Our innovators have successfully acquired 269 new corporate clients, engaged in 248 corporate open innovation initiatives and accelerated a total of 203 companies. Notably, the 11 emerging VC funds secured over 26.4 million euros from limited partners, dedicated to supporting 46 startups in their pipelines. Additionally, the establishment of four CVCs reflects the growing strength and impact of our innovation community. These accomplishments underscore the transformative journey we've embarked on, shaping a vibrant and thriving ecosystem.
As we reflect on the extraordinary achievements of the past year, we're thrilled to announce the impressive milestones our community has reached. With a renewed sense of purpose and a commitment to innovation, we're excited about the prospects of 2024. As we continue to grow and evolve, our dedication to fostering a vibrant innovation ecosystem remains unwavering. We look forward to further expanding our community, supporting groundbreaking startups and driving positive change in the year ahead.