KYIV, Ukraine , May 23, 2024
/PRNewswire/ -- On May 17, MITS (Military Innovation
Technology Solutions) and AUK (American
University Kyiv) kicked off the first acceleration program
for Ukrainian defense startups.
After a rigorous three-month selection process in which the team
evaluated over sixty applications, six promising startups were
selected to participate in an acceleration program that will help
them develop their business mindset, find partners and buyers, and
scale.
Through a multi-step process, applicants were put through a
series of evaluations, including a thorough review of their
business plans, a demonstration of their product in a "testing
ground" environment, and final approval by MITS' Supervisory
Board. While this rigorous selection process ensured a high
quality group of companies in the first cohort, MITS was impressed
with many of the applicants and looks forward to initiating a
second cohort later this year.
Apart from the USD 100k cash
investment, during the program, selected startups will receive:
- Expert Mentoring: Renowned industry leaders (such as
NATO defense industry experts) will provide guidance on strategy
development, product improvement and market entry.
- Industry exposure: Workshops, dedicated networking
events, and industry connections will arm startups with the
knowledge and relationships needed to navigate relevant
markets.
- Further Investment Opportunities: Apart from being
eligible for MITS Venture Fund, participating startups will have
the opportunity to showcase their products to a network of venture
capitalists, potentially securing critical funding for future
growth.
To learn more about the program's benefits and structure, please
refer to our previous press release.
"We are excited to begin this journey with these six innovative
startups. The talent and dedication we've seen throughout the
selection process is exceptional, and we're confident this program
will give them the tools they need to make a big impact,"
says Denys Gurak, Founding
Partner at MITS.
"We plan not only to build a defense tech startup ecosystem in
Ukraine, but also to invest in its
growth and development with the MITS venture fund," said
Perry Boyle, Founding Partner at
MITS.
Anton Melnyk, Founding Partner at
MITS, adds: "The key idea of the MITS accelerator launched together
with American University Kyiv is
foremost the development of a Ukrainian defense technology
manufacturing base, which will lead to new opportunities for
Ukraine as it continues to
integrate with NATO and the European Union. I am incredibly
impressed with what American University
Kyiv has brought to our accelerator partnership and am personally
grateful to Lyudmyla Dolgonovska, Yuriy Bots, Oleksiy Shershnev and Dan Rice for supporting such a fundamental
project for the development of the Ukrainian defense tech
ecosystem."
"American University Kyiv is honored to serve as an
educational partner of MITS in establishing a thriving business
acceleration program. I am confident that our partnership will grow
in its scope and impact as we seek to promote entrepreneurship,
drive innovation, and serve as catalysts of Ukraine's prosperity and security for decades
to come," says Yuriy Bots, Dean of the School of Management,
Visiting Professor, AUK.
MITS invites potential venture investors to participate in the
program's culminating event, Demo Day. For more information, please
reach out at info@mits.capital.
Contact:
Diana Ivolha
+12032528696
378185@email4pr.com
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SOURCE MITS Capital LLC