Innovx Achievements InnovX European Program Spring 2024 Overview

In celebration of the successful completion of the second edition of its European Program, InnovX reflects on a journey marked by innovation, collaboration and growth. As an official partner of the European Innovation Council and SMEs Executive Agency (EISMEA), InnovX has had the privilege of guiding a cohort of remarkable innovators from across the continent through a transformative experience.

Following a meticulous selection process, InnovX proudly welcomed 23 EIC beneficiaries from 14 countries and 9 diverse industries covering 15 United Nations Sustainable Development Goals (SDGs) into its program. Each of these visionary companies brought unique perspectives and groundbreaking ideas, contributing to a diverse and vibrant cohort poised to make a meaningful impact on the innovation landscape.

The InnovX European Program, unfolds across three pivotal phases: Acceleration, Matchmaking and Internationalization. In the Acceleration Phase, participants engaged in intensive workshops and mentorship sessions, refining their strategies and pitches to prepare for the journey ahead. Transitioning to the Matchmaking Phase, the program facilitated connections with 16 investors and 33 corporates. Finally, the Internationalization Phase saw participants take tangible steps towards entering diverse foreign markets, leveraging strategic collaborations with representatives from 5 different markets, fostering strategic collaborations and laying the groundwork for international expansion. 1713944391295.jpeg

Out of the 453 scouted companies, a select group of 23 stood out for their exceptional innovation and potential for transformative impact. Hailing from 15 countries including Austria, Romania, Finland, Germany, Portugal, France, The Netherlands, Sweden, Czech Republic, Ireland, Israel, Slovenia, Switzerland, Poland and Bulgaria, these visionary companies represent a diverse tapestry of ideas and perspectives. Spanning across 9 industries, namely healthtech, edtech, agritech, biotech, nanotech, enertech, fintech, mobility, IOT and aligning with all the UNIDO Sustainable Development Goals, each company brings unique solutions to the table, addressing pressing global challenges. Notably, with 45.7% of the participants being women, further enriching the collaborative spirit and innovative potential of the program. 1714127467213.png

Let's dive deeper into the solutions of the now-Alumni of the program:

capito specializes in simplifying complex information to ensure accessibility and understanding for all. Their flagship tool,, automatically simplifies texts across three language levels and provides practical tips for clarity improvement.

With translation services built on 20 years of expertise, Capito ensures accuracy and accessibility. Through training courses like Easy Reading, individuals can master easy-to-understand communication. Capito's solutions help clients reach wider audiences, enhance satisfaction, and build trust by making information more accessible and comprehensible.Dr. Ernst Stelzmann

Crispr Stem & Therapeutics Ltd. is revolutionizing heart attack treatment with an innovative gene and cell therapy. Their approach combines autologous stem cells with CRISPR technology to reduce infarct size post-heart attack, potentially preventing Chronic Heart Failure (CHF) and ischemic heart disease (IHD). Recognized by the Israeli Innovation Authority and the European Commission, they hold patents in key markets like the USA and China. Their goal is to make their cardio-protective treatment as essential in emergency care as stents. Dalia El-Ani Ph.D

dotLumen - Empowering the Blind builds glasses that empower the blind to live a better life. There are 40 million blind people today, and despite all the technological advancements, the most used mobility solutions are the walking cane and the guide dog. The guide dog is unanimously seen as a good option, but there are only 28,000 guide dogs to 40 million individuals with visual disabilities. .lumen offers a solution that mimics the benefits of a guide dog without the drawbacks that make it a non-scalable solution. Cornel Amariei Endre Hunnyadi Andra Maria Coț

Labmaster Ltd pioneers innovative clinical and veterinary diagnostics with Labmaster LUCIA™, a point-of-care immunoassay platform utilizing patented cathodic electrochemiluminescence (LM-CECL) technology. Their fast, accurate, and affordable tests cover a range of human and veterinary markers, with a commitment to expanding their product line. Operating within a positive, international work culture, Labmaster values every team member's contributions, ensuring that efforts and achievements are recognized and celebrated. Tony Wahlroos

Omnistream revolutionizes mobile journalism with an intuitive app that enables live video broadcasting via smartphones and DSLRs without lags or dropouts. This innovative solution drastically reduces satellite broadcasting costs and eliminates the need for complex hardware, transforming the operations of broadcasters and media enterprises globally. Hagay Avraham Amir Hazan

PYDRO addresses critical water scarcity issues by developing self-powered sensing and acting systems for smarter water networks. With over 4 billion people facing water scarcity annually, and significant potable water loss during distribution, PYDRO's innovative solutions offer real-time data transmission without external power sources. Their PT1 system enables efficient network management by comparing current data with historical records or hydraulic models, allowing for the preemptive detection of events and leakages. By empowering water utilities with smarter technologies, PYDRO aims to reduce energy costs, minimize CO2 emissions, and enhance overall water network efficiency. Mulundu Sichone

Xhockware is dedicated to pioneering innovative retail solutions tailored for modern grocery and supermarket shopping. With a core focus on addressing common consumer complaints, our mission is to enhance the shopping experience naturally while optimizing cost savings for retailers. By leveraging cutting-edge technology and consumer insights, Khockware is committed to revolutionizing the retail landscape, offering seamless solutions that elevate convenience, efficiency, and satisfaction for both shoppers and retailers alike. Joao Paulo Rodrigues Rita Soares Tiago César Silva

6Degrees LTD leads the charge in leveraging human motion to add value to daily life. Our solutions offer touch-free control over smart devices and gamified virtual reality experiences to enhance physical therapy. With a focus on individual ability and real-time insights, we're shaping a future where technology and movement converge for a seamless, empowering experience. Miri Berger aryeh katz

Actronika SAS pioneers haptic technologies, born from over 30 years of research, seamlessly integrating tactile feedback into human-machine interfaces. Our innovations elevate user experiences across various devices, from smartphones to vehicle touchscreens and game controllers, enhancing immersion and reducing distractions. With Actronika, the potential for improved interaction knows no bounds. Gilles MEYER Isabel Cristina T. Rafal Pijewski

inPhocal pioneers a revolutionary laser beam technology poised to transform laser processing. Our unique laser beam boasts an extended focus depth, accelerating laser marking systems while maintaining quality on curved surfaces. Furthermore, our technology allows for pinpoint precision with smaller spot sizes, particularly beneficial for wafer dicing. By enhancing chip yield, inPhocal contributes to alleviating the global chip shortage crisis. With our innovative approach, the possibilities for advancement in laser processing are limitless. Robert van Tankeren Nina Stroucken

RLCS (Robotic Lawn Care Systems) revolutionizes lawn care through its MowFleet system, employing fleets of robotic lawn mowers tailored for various public green spaces. Unlike static counterparts, these mobile robots are optimized for parks and urban lawns, relocating daily to mitigate theft and vandalism risks during daytime operation. They operate autonomously without the need for grid connections, enhancing efficiency and safety. Validated by over 400,000 hours of trouble-free use in Sweden and the US, the patented MowFleet system offers user-friendly and cost-effective solutions through rental options, enabling businesses to maintain pristine lawns effortlessly and economically. Kalle Andersson

Neuron Soundware revolutionizes machine diagnostics and predictive maintenance, leveraging powerful AI to analyze real-time sound patterns for unparalleled insights into mechanical systems' operation. Through edge computing and industrial IoT, our technology enables offline data processing, ensuring safe, fast, and efficient analysis of large datasets. With versatility across various use cases, we accelerate asset digitization and enhance quality control, mitigating risks associated with unplanned downtime. At Neuron Soundware, we prioritize safeguarding your business's critical assets, including your employees, infrastructure, and reputation. Pavel Trojánek Petra Večajová Cristian Gallardo Jan Bartosz

Ray Techniques Ltd. is a leading supplier of advanced nanodiamond additives, offering high-quality products synthesized through unique laser techniques. Our expertise spans surface modification, disaggregation, and homogeneous mixing, providing nanodiamond powders, colloids, and masterbatches to diverse industries. RAY nanodiamonds excel in fine polishing, lubrication, coatings, and biomedical research, with new applications emerging in thermal management, photovoltaics, catalysis and more. With a commitment to innovation, Ray Techniques drives progress across multiple sectors with state-of-the-art nanodiamond solutions. Olga Levinson Vadim Golubev

AVeta Medical, a dynamic medical device startup based in Galway, Ireland, has secured €2.5 million in EIC Accelerator funding in 2022 to propel the market launch of their innovative AVeta device. Designed for the non-hormonal treatment of Vaginal Atrophy (VA), this breakthrough technology addresses a significant need, with over 14.6 million patients seeking treatment for the condition annually in the EU and US. With a focus on improving women's health and quality of life, AVeta Medical is poised to make a meaningful impact in the medical field and beyond. Brian Ledwith Fiona Sullivan

Elonroad leads the charge in advancing the electric vehicle revolution with cutting-edge charging solutions that pave the way for a sustainable and secure future of transportation. Whether driving or parked, our innovative technology allows for seamless charging, catering to both private cars and commercial trucks. Beyond electrifying roads, Elonroad pioneers road digitization, ushering in a new era of smart infrastructure. With a commitment to innovation and sustainability, Elonroad is shaping the future of mobility for generations to come. Anna Wieslander Toby Hörnlein Karin Ebbinghaus Zannah Walker

Nevomo leads Europe's deep-tech sector, propelling high-speed railways into the future with MagRail technology. This innovation enhances existing infrastructure for automation, electrification and full digitalization, promising unprecedented speeds of up to 550 kph. As trailblazers in sustainable mobility, Nevomo is reshaping transportation, driving toward a more connected and efficient future. Daniel Minx Agata Mazur

Pomelody empowers parents to nurture their child's development through the transformative power of music. Our comprehensive platform offers a diverse range of entertainment options, from apps to physical products and MP3s, ensuring compatibility with every parenting style. Whether you prefer albums, animations, books, or educational materials, Pomelody provides best-in-class resources tailored to suit every taste and preference. By integrating art and sound, we deliver a holistic music education experience that enhances cognitive, emotional, and social development in children. With Pomelody, unlocking the benefits of music education has never been easier or more accessible for families worldwide. Olena Prokhorets

MicroBrain Biotech is dedicated to transforming drug development through ethical and cruelty-free practices, prioritizing humanity in all aspects of our work. Our unwavering commitment to groundbreaking discoveries drives us to create innovative solutions that enhance the quality of life for patients and their families. We believe in treating all living beings with compassion and respect, fostering collaboration, scientific excellence, and sustainability. By placing humanity at the forefront of healthcare, MicroBrain Biotech endeavors to leave a lasting, positive impact on society and beyond. Bernadette Bung Sim

Time Critical Networks (TCN) pioneers model-based simulation software for next-generation Ethernet networks. Our TCN TimeAnalysisTM software enables robust data network design with a focus on latency and packet delivery. Serving the automotive industry, we optimize performance while minimizing costs, offering insights into traffic behavior under various scenarios. Founded in 2008 by researchers from Chalmers University of Technology, TCN is committed to shaping the future of time-critical communication. Jonas Lext

LAM'ON OOD is a leading manufacturer specializing in sustainable packaging solutions. Our bio-based and compostable thermal laminating films and clear packaging foils offer eco-friendly alternatives to traditional petroleum-based plastics. By addressing the global challenge of plastic waste, we help reduce the staggering 1.2 million metric tons of laminated paper wasted annually. Our innovative materials boast the same quality and properties as conventional plastics, ensuring a seamless transition for businesses without the need for special machinery upgrades. With LAM'ON, clients benefit from high-quality, cost-effective solutions that prioritize environmental stewardship. Gergana Stancheva Zlatena Fortunova Angela Ivanova 1714116307832.png

The InnovX European Program unfolds through three transformative phases, each designed to propel participating companies towards growth and international success. The Acceleration Phase initiates the journey with a focused initiative centered on converging future technologies. Participants engage in in-depth analysis, followed by tailoring pitches for diverse stakeholders, culminating in the selection of startups getting to the next phase. Transitioning to the pivotal Matchmaking Phase, 20 companies pitch their innovative solutions to key stakeholders, paving the way for strategic collaborations crucial for scaling-up and commercialization. After the Matchmaking events, the members of the jury vote the pitches and choose the 15 innovators getting into the Internationalization Phase. Finally, in this phase, they focus on entering diverse foreign markets, leveraging strategic collaborations to propel their businesses towards international success. Through these phases, the program equips participants with the tools, connections and opportunities necessary to thrive in the global innovation landscape.

At the outset of the program, InnovX embarked on a mission to intimately understand the unique needs and aspirations of each participating innovator. Through a series of personalized strategy sessions, 121 meetings with the innovators, we delved deep into the intricacies of their ventures, challenges and goals. These sessions served as a crucial foundation for tailoring our support to meet the specific needs of each innovator, ensuring that they receive the utmost assistance and guidance throughout their journey in the program. Mentors involved in these strategy sessions included Ovidiu Kișlapoși, Corina Mîndoiu, Iulia Meirosu, Gabriel Blanita, Delia NECULA, MBA, Madalina Ciinaru, Claudiu Hobjila, Ana Bobirca, Cristina Bucur, Anca Burke, Felix Crisan, Irina Verlan, MBA. By providing a personalized and attentive approach, we aim to empower innovators to unlock their full potential and achieve their aspirations, fostering an environment of collaboration, growth and success. 1714115954682.png

During the acceleration phase, participants in the InnovX European Program embarked on an intensive journey of growth and refinement. Building upon the diverse backgrounds and innovative ideas of the cohort, this phase prioritized the convergence of future technologies and strategic pitch preparation. Facilitated by distinguished mentors, including Orly Sorokin and Mugurel Gheorghe from IBM for Converging Future Technologies and Aimen Aldahash, Robert Pufan and Sergiu Pop from Microsoft for a similar focus, participants gained invaluable insights into cutting-edge technological trends. Additionally, Liviu Munteanu and Bogdan Năforniţă guided participants in Pitch Preparation for Investors, while Daniel Dumitrescu, PhD. and Vicentiu Corbu led sessions on Pitch Preparation for Corporates. Emanuel Cernat and Vlad Cazan provided expertise on preparing for entering new markets, ensuring that participants were equipped with comprehensive strategies tailored to their unique goals and aspirations. Through these workshops and mentorship sessions, the acceleration phase laid a solid foundation for the cohort's journey towards scaling up and commercialization. Based on deliverables from this phase, a selection was made, guaranteeing the innovators' progression to the next phase. The mentors overseeing the selection process included Cristina Dragu, Vicentiu Corbu, Corina Mîndoiu, Cristina Bucur, Liviu Munteanu, Diana Dumitrescu, Irina Verlan, Gabi Blanita, Cristian Ignat, Delia Necula, Cosmin Ghinea, Ana Bobirca. Their expertise and guidance ensured a rigorous and fair selection process, setting the stage for continued success in the program. 1714116447264.png

During the matchmaking phase of the InnovX European Program, 20 innovators took center stage to pitch their groundbreaking ideas in front of a distinguished audience comprising both investors and corporates. With each innovator given a brief window of opportunity, the pressure was palpable as they strove to convey the potential of their solutions effectively. This phase provided a crucial platform for forging connections and fostering strategic collaborations, as innovators sought to not only secure investments but also explore potential partnerships with corporates. The event underscored the significance of bridging the gap between startups and key stakeholders in the business world, highlighting the collaborative spirit at the heart of the program's mission. Pitching in front of investors is a pivotal moment in the journey of any startup and during the recent event organized by the InnovX European Program, innovators faced this challenge head-on. With each innovator allotted a mere three minutes to present their vision, product and market potential, the pressure was on to captivate a panel of esteemed investors from various renowned venture capital firms. The jury included representatives from 16 European venture capital firms, such as Sonia Fedorovici Roca X, Valentin Filip Fortech Investments, Michal Olszacki RadiX Ventures, Liviu Munteanu Founders Bridge, Antonela Dragomir Catalyst Romania, Raya Yunakova LAUNCHub Ventures, Roumen Jordanov BrightCap Ventures, Gábor Pénzes Impact Ventures, Vlad Panait Sparking Capital, Eduard Burghelia V7 Capital, Ioana David, Jan Nykl Presto Ventures, Florian Munteanu Future Now Capital , Suleiman Arabiat Elevator Ventures, Jordan Bocskov Fiedler Capital, Linda Võeras Karma Ventures. Following the pitches, a five-minute Q&A session ensued, providing an invaluable opportunity for the innovators to address any queries and showcase their depth of knowledge and readiness for investment. This event underscored the importance of concise yet compelling storytelling, demonstrating the potential of their solutions to shape the future of their respective industries. 1714117669473.png

Pitching in front of corporates is a crucial step for startups seeking strategic partnerships and collaborations, and the recent event organized by the InnovX European Program provided an invaluable platform for this purpose. With 33 corporates represented on the jury, startups had the opportunity to showcase their solutions and explore potential synergies with industry leaders. The jury included: Gina BANYOCU-Garanti BBVA, Andrei Nae-BCR, Mihaela Stancu-Procter & Gamble,Bogdan Stefan - Exim Banca Romaneasca, Madalina Vilau -Affidea, Steliana Moraru - OTP Leasing Romania , Lestat Monroe -Romanian Diversity Chamber of Commerce, Andrei Burz-Pinzaru -Deloitte,Luise Georgiana Vuiu - Thales, Flavia Ștefura - MPR Partners , Sebastian Stan - Regina Maria, Reteaua de sanatate, Bogdan Oprisor - METRO Romania, Marius Ciuperca - SETRIO, Tuan Trinh, PhD -EIT Digital , Alexandru BITA - Libra Internet Bank, Andrei Avădănei -BIT SENTINEL, Felix S. - Cyber Dacians - StageOne, Cristian Dincovici (retired lieutenant general)-TID Group, Costin Burdun- certSIGN, Oana Cojocaru-Globalworth, Dragos Ciobanu- Citi, Adrian Seceleanu-Mediafax, Avi Cicirean - BRAND MINDS, Florin Blejan-Biziday, Vladimíra Činčurová-Microsoft, Daniel Mereuta- TDCX, Gabriela Alexandrescu - OMV Petrom, Paris Nikolopoulos - ex Coca-Cola, Andrei Marius Niculescu -Vodafone, Marian Andrei - PRO TV, Flaviu Octavian Iliescu-Sph3ra Management Solutions, Ionut Bonoiu-Forbes Romania, Yaniv Alon - IBM. This diverse lineup of corporate representatives provided startups with a unique opportunity to connect with industry experts and explore potential collaborations, highlighting the importance of building bridges between startups and corporates in driving innovation and growth. 1714117690454.png

In the third and final phase of the InnovX European Program, the Internationalization phase, startups embarked on an exhilarating journey to explore external trade opportunities and establish connections with commercial departments, presenting 5 different markets.

On the first day of the Internationalization phase, Monica Eremia, Commercial Specialist at U.S. Commercial Service and Eli Corso-Phinney, Commercial Officer at the Embassy of the United States of America in Bucharest, Romania, shared their expertise on the soft landing opportunities that the US market had to offer. Their insights guided our cohort through the intricacies of expanding into this vibrant landscape. Additionally, entrepreneurs Cristian Ignat from Aggranda and Bogdan Litescu from Plant an App shared their hands-on experiences, providing valuable insights into establishing a presence in the US market.

The second day saw three distinguished speakers offering insights into the soft landing opportunities in the UK market. Dace Dimza-Jones, Deputy Head of Northern Powerhouse Life Sciences: Biotechnology & Pharmaceuticals, Stephen Tierney, Sustainability Business Development Manager, Europe - London & Partners and Dr. Claudia M. Duffy, European Patent Attorney, shared their expertise, providing invaluable guidance to our cohort. Moreover, entrepreneurs Anca Stancu, Managing Director and Co-founder Safetech Innovations Global Services & Co-founder Doctoria and Virginia Zetu, Founder and CEO Fibercon Components, shared their practical experiences and insights, further enriching the session. The session was facilitated by Cristina Dragu 🇬🇧💰🚀, Director, Foreign Direct Investment | EU Central – UK Department for Business and Trade, whom we deeply appreciate for her unwavering support of our endeavors. She has played a pivotal role in assembling the most incredible speakers and has diligently spearheaded the effort to facilitate startups' entry into the UK market. 📈 The most dynamic innovator, Daniel Minx, was awarded with VIP Tickets for London Tech Week, as part of the InnovX Delegation 👨💻 🏆

On the final day of the Internationalization phase, participants gained insights into three markets of major interest. Speakers Naomi Shimada, Lead Coordinator at Shibuya Startup Support provided insights regarding the soft landing program for the Japanese market. Hisham Kassim, Managing Partner at Hisham Kassim and Hala Al Taher, Head of Partnerships & Business Development at Kassim Legal, provided valuable guidance on the soft landing opportunities in the MENA market giving practical examples. Additionally, Alexandra Gurita, Consultant at AHK Romania, along with entrepreneurs Camil Moldoveanu, CEO and Co-founder of re.flex - Physical therapy made simple shared their experiences and insights, facilitating a rich exchange of ideas and strategies for international expansion. 1714120787819.png

The success of the InnovX European Program owes everything to our incredible team: Daniel Dumitrescu, PhD., Diana DUMITRESCU, PhD., Bianca Păcurar and Vlad Maftei. Their dedication and collaboration have been the driving force behind every aspect of the program, from its inception to completion. At InnovX, we prioritize teamwork and unity, ensuring that every member supports and backs each other up. It's through this collective effort that we've been able to overcome challenges and make a meaningful impact on the innovation landscape.

The InnovX European Program stands as a testament to our unwavering commitment to fostering innovation and driving forward the entrepreneurial spirit across Europe. Our dedication to supporting innovators has been recognized by The Financial Times, Statista and Sifted, who have honored InnovX as a Leading Startup Hub in Europe. These accolades, including being ranked #1 Startup Hub in Eastern Europe, #4 for Best Hub for Networking in the EU, #6 in Best Offices and Lab spaces in the EU and #11 out of 125 Startup Hubs in Europe, validate our relentless efforts in driving innovation forward. As we move forward, we remain steadfast in our commitment to shaping a future where innovation knows no bounds, empowering startups to reach new heights and make a lasting impact on the world. 1714121831737.jpeg