Hungarian startups at „Silicon Valley comes to Europe” competition
60 European and Far-Eastern startup companies will introduce themselves in mid-October at TechMatch. The competition and related trainings, conference and expo are organized for the very first time in Europe. List of participating VCs include e.g. Adobe, Cisco, DoCoMo Ventures, Fujitsu, Honda, Hyunday Ventures, Intel Capital, LG, Oracle, Paypal, Salesforce, SAP, SanDisk, Sony USA, Sprint.
US Market Access Center (US MAC) the organizer of the event is one the most well-known accelerator in Silicon Valley and working together with European startups, incubators while keeping active touch with European countries, too. TechMatch is connecting matured startups with multinational companies and venture capitalists. Earlier the event took place in San Francisco and the European teams were taken there. Now it is switched and the representatives of the American companies will come over to Europe (precisely to Bratislava) and for five days they will be closed up with matured startups from 15 countries, creating the chance to build a much tighter connection than ever before.
US MAC selected the Hungarian companies in cooperation with Technopolitan Plc. Among the selection criterias were the technological description, the traction and a significant validation from the early adopting companies of the local market. The protectable intellectual property, the disruptive innovation and the determinate market competitive advantage were important virtue, too. Companies without an income, based on promotion activity via community/hobby/dating etc. sites or companies without scalable, repeatable, high profit content product were not interesting at all.
Out of nine Hungarian applicants (fitting all the strict criterias) Synetiq, NowTech and Optoforce were chosen. In Bratislava the companies will gain a great networking opportunity with market leaders and investors, while the organizers will reward the best companies with 300 thousand USD in total.