ShutechCrunch is a technology conference that has been running successfully since 2012 and has attracted thousands of attendees each year. It is organised by Bukukas, a startup incubator and accelerator. The conference focuses on bringing together the world’s leading innovators, investors and tech gurus to discuss the latest trends and present new ideas about technology-related business opportunities and advancements.
In 2021, the organisation announced its first venture capital funding of $50M to eligible start-up companies, called the Bukukas 50M Series. This fund was created to directly invest and support local technology entrepreneurs in the emerging markets, as well as established, global companies.
What is Bukukas 50M Series?
The 50M Series is an investment program set up by Bukukas to invest in up to 30 tech-startups worldwide. It is open to startups from across all business stages, including seed, early stage and growth stage companies. The fund aims to mobilise those companies that demonstrate innovative solutions and business models and provide positive economic, social and environmental impact.
The fund’s purpose is to identify and support innovative, ambitious and committed entrepreneurs who can solve pressing problems in their respective countries. Furthermore, the fund targets companies or projects that have the opportunity to contribute to the future of digital infrastructure, services and products involving AI, machine learning and big data technology, as well as digital health, digital mobility, and cyber-security solutions.
In addition to financial resources, Bukukas provides mentorship, networking and access to industry resources to help startups grow and succeed.
How is the Fund Structured?
The fund is structured into different stages depending on the development of the company, with each stage offering guidance and advice tailored to the specific needs of the startup.
The fund is divided into three parts:
- Seedfund: This is the first stage and it allows for seed investments for early-stage startups. The amount invested is up to $500K.
- Early Stage: This is the second stage and provides developers with up to $1M to develop and promote their products.
- Growth: This is the third and final stage and it focuses on companies that are at a more mature stage. The fund can invest up to $10M in these companies.
Benefits of Being Part of the Program
Being part of the Bukukas 50M Series gives startups access to financial capital, as well as mentorship, networking and resources. In addition, the 50M Series offers a unique program for entrepreneurs with specialised skills. This includes:
- Mentorship from Bukukas team members, who have the experience and connections to help your business succeed.
- Access to investors and industry contacts around the world.
- Opportunities to showcase your products and ideas at the conference.
- Media exposure.
Q: What is the eligibility criteria for companies to apply for the Bukukas 50M Series?
A: Companies must have a working prototype and/or a successful market traction. In addition, they must demonstrate innovative solutions and business models that could have a positive economic, social and environmental impact.
Q: What type of startups are eligible to apply?
A: The fund is open to startups from all sectors that demonstrate innovative solutions involving AI, machine learning and big data technology, as well as digital health, digital mobility, and cyber-security solutions.
Q: What is the timeline for funding?
A: The funding process is ongoing and announcements are made for startups chosen for funding every three months.
One of the projects recently funded under the Bukukas 50M Series is Sophia, an AI-powered platform that enables companies to manage their customer’s expectations and deliver the best experience possible. Sophia uses machine learning algorithms to monitor customer interactions and predicts customer behaviour for more personalised and timely responses.
Another example is 4K Health, an AI-powered healthcare app that helps people manage their health, diet and exercise. 4K Health provides users with personalised meal plans and exercise regimens based on their lifestyle, health goals and current situation.
The Bukukas 50M Series is an amazing opportunity for startups to gain access to financial capital and resources, and to be mentored by the best minds in the technology industry. By investing in the innovative ideas and solutions proposed by young entrepreneurs, the fund is helping to shape the future of digital infrastructure, services and products. If you think your company is up for the challenge and has the potential to benefit from the fund’s resources, do not hesitate to apply for the program.