The winners of the contest will receive help in the further development of a prototype, a testing advertisement budget, along with support from a dedicated team of marketers, sales managers and business development experts, as the organizers put it. At this, the winners will gain exposure to an international pool of potential customers and partners. X100lab is ready to invest up to EUR 250 000 for the most promising projects. For such cases, the investors promise to eye attentively up at the Ukrainian start-ups.
X100lab is a full-cycle startup lab. The laboratory helps entrepreneurs to quickly solve technical and marketing problems and move on to achieving consistent sales. X100lab sets a goal to increasing capitalization of each of the winning projects up to USD 1mln during a year. It is the time span for a startup teams to be located in one of the main offices of the organizers in Warsaw, Moscow or Tel Aviv.
Many start-ups have a sort of distrust of incubators and accelerators, told Maksim Artemenko the head of X100lab. Against this backdrop, X100lab offers projects not only the expertise but also financing, as well as direct access to the partner and client network. It means that the winning start-ups instead of advice will communicate with the development specialists, sales managers, and marketers in a daily basis.
To note, X100lab project gets support from the Israeli platform JSCapital. Roman Gold, the managing partner of JSCapital told that a special priority will be set for Ukrainian startups.
