One of the main objectives of the Western Balkans Investment Readiness Program is to put the Western Balkans region in the investment spotlight in 2022. The program also aims to map emerging startups in the Western Balkans and help them further accelerate their growth.
This year, 25 startups from across the region will have the opportunity to learn from top experts what is needed to become better at fundraising, as well as become a contributing factor to the startup scene in their respective countries .
Startups participating in the program are seeking investments between $100,000 and $1 million and already have a product launched in the market or tested with customers.
The main organizers of the program are the Swiss Entrepreneurship Programin partnership with Vestbee and local ecosystem partners in Albania (Network of Women Founders Albania), Bosnia Herzegovina (To start), Kosovo (Women entrepreneurs Kosovo), North Macedonia (Startup Macedonia) and Serbia (Preduzimanje).
“The idea behind the program is simple: to enable startups to learn and improve their business and fundraising profile. At the same time, in such a favorable and safe environment, startups are encouraged to meet investors. Igor Madzov, investment facilitator at the Swiss Entrepreneurship Program, one of the main organizers of the program, tells The Recursive.
In this article, take a look at The Recursive’s pick of the 10 best startups in this sector. program.
Kagera AI
Based in Serbia Kagera AI is a machine learning solution that can minimize dangers, save time and money when solving critical business problems. It offers a clean technology web cloud application composed of the following functionalities: short, medium and long term recommendations to prevent risks, real-time reactive analyzes and dynamic reports. The most sought-after markets for Kagera AI are energy companies in Egypt, Qatar, the United Kingdom and Indonesia, but the team is also working to establish partnerships in Canada and the United States .
Synapse Aviation
Based in North Macedonia, Synapse Aviation is a fusion of experienced aviation experts, IT professionals and entrepreneurs seeking to create innovative software solutions for contemporary aviation.
Synapse’s mission is to improve flight safety and efficiency and mitigate the risk 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 relevant information only using the latest 3D technology.
Innovation Center
Innovation Center is another startup from North Macedonia, this time in the health technology sector. It offers a 24/7 real-time remote monitoring and analysis device in the form of a wearable ECG (electrocardiogram) patch placed on a human’s chest, and is also successful in detecting abnormalities . The device continuously tracks patients’ heart rates and can alert your doctor if a heart condition occurs.
OpenPay
OpenPay is an Albania-based fintech startup developing the first QR payment ecosystem that allows customers to pay via a mobile app on one side and merchants to accept low-cost payments on the other side.
The increased use of OpenPay, with users insisting on paying via a QR code, creates a loyalty program for consumers that results in the collection of cashback. This method is beneficial for banks because it allows them to save a lot of costs and offer innovative payment methods to their customers.
ATAR
ATAR is a startup based in Serbia, at the intersection of agritech and AI. ATAR’s product is a smart sprayer that uses an AI-powered system that reduces chemical use in fields by up to 70%. It also allows any existing spray machine to perform precise weed detection and spot spraying.
FinquUP
The third startup on this list from North Macedonia is FinquUP – an investing app for beginners that provides an intuitive program where just one click separates potential users from hundreds of verified and profitable trading strategies.
The app seeks to simplify how users can find strategies and invest their money, resulting in more responsible decision-making. The biggest advantage offered by FinqUP is the ability to know market needs and make profits transparently.
Agremo
Agremo is another agritech startup based in Serbia, whose products help agriculture using sophisticated and unique AI technology. The process of analyzing field and crop needs includes several steps.
First, a set of drones collects aerial data which is then combined into a map and uploaded to the Agremo web application. In the next step, a specific analysis based on powerful AI software is carried out, generating easy-to-understand reports in PDF or shapefile format.
hostelSono
hostelSono is a Serbian startup that helps businesses use audio AI using innSono Analytics, an all-in-one software for building audio AI applications. innSono’s software provides a bridge between the audio and AI domains, enabling the rapid creation of AI models from audio data.
The software appeals to experts and amateurs alike with its wide range of features that support the development of precise and customized machine and deep learning solutions for the entire process, from data acquisition audio data to the deployment of created AI models.
Dasma app
Dasma app is a Kosovo-based startup that comes to the rescue of all nervous brides and grooms by making wedding plans a little less stressful. The app allows its users to organize every part of the wedding reception, including activities such as booking a venue, choosing a date, checking out musicians, booking catering and everything other spectacle you can imagine.
This is also beneficial for rented parties as it allows servers, DJs and photographers to reach a wider audience. The automatic booking system gives the young couple the guarantee of saving time and nerves with easy access to professionals in one place.
TePema
TePema is an eco-design startup from Kosovo that solves the fixed cost problem of large and medium-sized businesses, by designing and producing self-sustaining recreational spaces for vertically installed plants.
Their product, Facade 2.0, is an innovative greenery app that can reduce electricity bills by up to 30% in a year. The product also includes vertical panels that cover and thermally insulate the building constructed from 100% recycled materials.
