Hub:raum Krakow has travelled to Budapest to see what does our startup ecosystem have in its pocket. They have lots of money – 300k EUR to be exact – to spend on a really cool project, coworking space and mentoring to offer. The question is will they spend it here or travel on?!

But do not run ahead, first let’s see what hub:raum Krakow is:

hub:raum Krakow is the innovation hub for early-stage startups created by Deutsche Telekom Group in April 2013. It focuses on supporting innovative businesses from Central and Eastern Europe by connecting team, vision, and expertise with the corporate power of the world’s leading integrated telecommunications companies. It is achieved by offering the smart money (commercialization and go-to-market through an access to over 150M Deutsche Telekom customers), comprehensive package of seed funding (up to 300.000€ for 10-20% of equity), co-working space, mentoring and Deutsche Telekom assets.

hub:raum organizes many programs to support European startups, e.g. WARP Sprints (http://www.warpaccelerator.com) and Challenge Up! (IoT Accelerator with Cisco and Intel,http://www.challengeup.com).

On September 26th hub:raum in cooperation with Kitchen Budapest visited Impact Hub Budapest to hunt for promising young businesses which could participate in a new formula of well-known across Europe program – WARP Sprints and discuss how startups can benefit from the cooperation with Deutsche Telekom.

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Cosmin, Business Development Manager introduced hub:raum Krakow and its brand new program, WARP Sprints, which is a much faster and focused formula of WARP Accelerator.Why they changed? -> Read about it in our previous post. In a nutshell WARP is:

  • 7 days acceleration followed by 4 weeks business ignition
  • workshops, lectures, mentoring and networking opportunities
  • over 50 international experts + 20 Deutsche Telekom executives
  • aiming to developprojects creating synergies with Deutsche Telekom

The selection criteria of WARP is similar to what other VCs use. They look how scaleble is the project, is the market big enough, etc., however they also consider how relevant is the project to Deutsche Telekom.

One of the success stories of hub:raum Cusmin highlighted is Hypelabs, an intelligent framework that allows devices and applications to discover, connect and interact even without internet access.


Cosmin, Roman and Oscar from hub:raum and Orsi from KIBU listened to 5 pitches. The presenters had 5 minutes to pitch and then came the Q&A first questions from the jury then the public also had the opportunity to ask.

The pitching startups were:

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  • Atmo, a hardware startup that provides a new interface for board gaming, connecting physical and virtual worlds allowing more natural connection between players and technology.
  • HorizonGuide, a GPS based stroytelling guide for long distance transport
  • Parkour, that aims to solve theh problem of all the hassle of paying for parking and gas.
  • SportOkos (means SportSmart), an app easing the life of the ones who would like to sport.
  • and Wyze.me, who – after the release of their PFM app – are planning a fully automatic microsaving app for Europe.

Two startups – Atmo and Parkour – got the opportunity to move to the next round, so the 300k question will stay opened for now, at least until the second half of October when the roadtrip is over.

I asked Cusmin about his overall impression of the Hungarian event:

“It is the first time I am making an event in Budapest, although I have been here several times, we haven’t been really active in Hungary so far. As for the event – regarding it was the first one – it was good. I saw some diversity between the startups which I didn’t expected from the beginning, I mean when we talk about Smart City and Transportation&Logistics, these topics which came up this evening are not the usual ones. However I was impressed by the first team, Atmo. They are developing a really innovatiove product, I belive they can have traction if the product is marketed and executed right.”

 

The hub:raum jurney hasn’t stopped, Cusmin has already landed in Cluj, to meet great entrepreneurs of Romania…

 

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