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TunisiaTunisian company among winners of EBRD AgVenture start-up competition
The European Bank for Reconstruction and Development (EBRD) has revealed the winners and runners-up of EBRD AgVenture, the Bank’s start-up food-tech innovation competition. The announcement was made at the Consumer Rules Summit in Zagreb. The winners were start-ups Kumulus, Biftek, and Smapp Lab.
Kumulus is a Tunisian company that produces and operates machines replicating the dew phenomenon, sustainably producing fresh water. Biftek is a Turkish growth supplement producer cutting the cost of lab-grown meat. Smapp Lab is a Hungarian insect monitoring platform that helps farmers optimise pesticide use.
Two of the runners-up are from Bulgaria: Cuppfee, which is producing edible cups to reduce waste, and Ondo, which specialises in automation systems for agriculture. The third runner-up is Tunisian start-up Seabex. It provides farmers with artificial intelligence (AI)-based solutions to improve irrigation and conserve water.
Winners were selected based on a variety of criteria, including the relevance of the problem the companies are trying to solve; the product/service differentiation; their go-to market strategy; progress and traction; the experience of the team, and financing.
The winning start-ups will benefit from tailored advisory support worth up to €80,000 via the Star Venture programme and a €10,000 grant for additional services, as well as networking and visibility opportunities at international fora. The runners-up will receive up to €50,000 for tailored advisory and a further €10,000 grant.
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Tunisia
