One of the main goals of the Western Balkans Investment Readiness Program is to put the Western Balkans region at the center of investment attention in 2022. The program also aims to map growing startups in the Western Balkans and help them grow their startup further.
This year, 25 startups from across the region will have the opportunity to learn from the best experts about what it takes to become the best at fundraising, as well as becoming a contributing factor in the startup scene in their respective countries.
Startups participating in the program are looking for investments in the range between $100,000 and $1 million and already have a product that has been launched on the market or tested with customers.
The main organizers of the program are the Swiss Entrepreneurship Program, in partnership with Vestbee and local ecosystem partners in Albania (Women Founders Network Albania), Bosnia and Herzegovina (Start), Kosovo (Women Entrepreneurs in Kosovo), North Macedonia (Startup Macedonia). , and Serbia (Preduzmina).
Igor Madzov, investment facilitator at the Swiss Entrepreneurship Program, one of the main organizers of the program, tells The Recursive that: “The idea of this program is simple as it allows startups to learn and improve their business and fundraising profile of funds. At the same time, in such a supportive and safe environment, startups are encouraged to meet investors.”
Take a look at The Recursive’s selection of the top 10 startups from this program for the Western Balkans.
Serbia-based Kagera AI is a machine learning solution that can minimize risk, save time and money when solving critical business problems. It offers cloud application that consists of the following features:
- short-term, medium-term and long-term recommendations for risk prevention,
- responsive real-time analytics and dynamic reports.
The most desirable markets for Kagera AI are companies in the energy sector from Egypt, Qatar, Indonesia, but the team is also working to establish partnerships in Canada and the US.
Based in North Macedonia, Synapse Aviation is a union of experienced aviation experts, IT professionals and entrepreneurs looking to create innovative software solutions for modern aviation.
Synapse’s mission is to improve flight safety, efficiency and mitigate the risks of operational errors within airlines. The tool presented by Synapse Aviation called “Airport Briefing” is an interactive software platform that provides quick and easy access to only relevant information using the latest 3D technology.
Innovation Dooel is another startup coming from North Macedonia, this time in the health technology sector. It provides remote and real-time monitoring and analytics tools. The device is in the form of an EKG (Electrocardiogram) wearable patch placed on the human chest and is also capable of detecting abnormalities. The device continuously tracks the heart rate of patients and can alert your doctor in case of any cardiac disorder.
OpenPay is an albanin based fintech startup that is developing the first QR payment ecosystem that allows customers to pay with a mobile app on one side and merchants to accept low-cost payments on the other side.
The growing use of OpenPay with users insisting on paying via QR code creates a loyalty program for consumers. The method is beneficial for banks, as it allows them to save a lot of costs and offer innovative payment methods to their customers.
ATAR is a serbian based startup that combines agritech and AI. ATAR’s product is a smart sprayer which uses an AI-powered system that reduces the use of chemicals in fields by up to 70%. It also enables any existing spraying machine to perform accurate bad plants detection and spot spraying.
FinqUP, from North Macedonia, is an investment application for beginners that offers an intuitive program, where only one click separates potential users from hundreds of verified and profitable trading strategies.
The app looks to simplify how users can find strategies and invest their money, resulting in more responsible decision-making. The biggest advantage that FinqUP offers is the opportunity to learn about the needs of the market and to realize profit in a transparent way.
Agremo is another agro-tech startup based in Serbia, whose products help agriculture use sophisticated and unique AI technology.
innSono is a Serbian startup that helps companies use Audio AI using innSono analytics, an all-in-one software for creating audio AI applications. innSono’s software provides a link between the audio domain and AI, thereby enabling the rapid creation of AI models from audio data.
Dasma App is a Kosovo-based startup that makes wedding planning less stressful. The app allows its users to organize every part of the wedding, including activities such as booking a venue, choosing a date, verifying musicians, booking catering and any other event you want to have at your wedding.
It’s also useful on the hiring side as it allows waiters, DJs and photographers to reach a wider audience. The automatic booking system gives the young couples a guarantee to save time and nerves as they find the professionals in one place.
TePema is a startup from Kosovo that addresses the problem of fixed costs of large and medium-sized enterprises, by designing and producing autonomous recreational spaces located vertically.
Their product, Facade 2.0, is an innovative green application that can reduce electricity bills by up to 30% within a year. The product also includes vertical panels that cover and thermally insulate the building constructed from 100% recycled materials.