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USAID-supported eō Business Incubators Holds First Demo Day in Ukraine

eō Business Incubators, supported by the U.S. Agency for International Development (USAID) conducted its first Demo Day in Ukraine and presented early-stage Ukrainian tech startups, graduates of ...

Among eō Business Incubators first cohort graduates are iCardy. It represents a group of Kharkiv biomed engineering and math scientists that work on a wearable device applying math models to detect hidden heart pathologies to notify and save a person’s life timely. Startup Pytag develops a global agro-commodities marketplace enabling farmers and end buyers to trade with each other directly with the best price. It started piloting its product with Ukrainian agro producers and agro traders. BIOsens is a startup that already received grants for developing of a prototype, which protects consumers from contaminated food, bringing laboratory accuracy of testing into the field and guaranteeing traders and buyers food safety. Nuwork makes recruitment of entry-level personnel quick and simple, helping to find jobs in their communities decreasing recruitment risks for all of them. Comin Systems enhances impulse online buying helping online stores sell more products by tailoring offers and advertisements to reach for relevant buyers while they surf the internet. FiTech is a startup founded by Kharkiv scientists which commercializes a new type of material, that makes machinery and equipment sensors reliable enough to efficiently operate in hazardous and extreme industries, including space, radioactive and chemicals. Spokk makes insurance products accessible via an online application, making the customer journey easy from choosing an insurance, buying it, to filing the claim and receiving the funds to its account.

It is worth mentioning that the eō Business Incubators businesses have been already presented to investors around the world during intensive 4-month curriculum. One of the above-mentioned startups will join a U.S. medical device incubator for two months. Two eō Business Incubators startups are under consideration by two Israeli investors, and one more is in discussion with a U.S. investor.

During the Demo Day, William B. Taylor, Chargé d’Affaires, a.i. of the U.S. Embassy in Kyiv, said: “The United States is proud to support Ukraine’s tech potential, assisting its entrepreneurs transforming and scaling that potential to become globally competitive businesses. Business incubators play a key role in the United States, preparing startups for growth. Therefore, we support the most comprehensive incubation program in Ukraine - the eō Business Incubators.”

Besides the pitches, the Demo Day agenda included presentations on funding opportunities by Startup.Network and the Ukrainian National Startup Fund, along with lectures and workshops on challenges that Ukraine’s startups face in design, finance, and pitching.

“This Demo Day is the culmination of an intensive incubation program that helps Ukrainian startups rapidly launch and grow their business. It is a great opportunity to find investors, one of the many steps forward that we’re confident will result in their success. Today’s event includes startups, venture capital and seed investors, and representatives from tech ecosystems in Ukraine and abroad. We’re thrilled that our graduates can benefit from this unique opportunity,” said Charles Whitehead, co-founder of the eō Business Incubators.

The eō Business Incubators Demo Day is jointly organized by the USAID Competitive Economy Program, KPMG, and Startup.Network.

The eō Business Incubators are accepting applications for the next incubation cycle and looking to work with Ukraine’s most talented entrepreneurs and startups to help take them to the next level and compete globally. Apply at www.eo.in.ua by 5:00 p.m. on 8th October 2019.

eō Business Incubators is part of the USAID Competitive Economy Program (USAID CEP), which supports startups and small and medium-sized enterprises (SMEs) to become more competitive in domestic and international markets, facilitates building a simpler and transparent business environment, and promotes the formation of an efficient trade policy for SMEs to benefit from international trade. eō Business Incubators is Ukraine’s premier seed-stage mentor-driven incubator program. At the core of the program is an intensive 4-month curriculum designed to support technologists and entrepreneurs in launching and scaling their industry-changing technology businesses.

USAID is the world's premier international development agency and a catalytic actor driving development results. USAID's work demonstrates American generosity, and promotes a path to recipient self-reliance and resilience, and advances U.S. national security and economic prosperity. USAID has partnered with Ukraine since 1992, providing more than $3 billion in assistance. USAID’s current strategic priorities include strengthening democracy and good governance, promoting economic development and energy security, improving health care systems, and mitigating the effects of the conflict in the east.

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