Three Russian startups are selected by Enterprise Ireland agency to receive investment and move to Ireland

Enterprise Ireland
Enterprise Ireland

Three Russian startups were selected for the Competitive Start Fund program, for which the Irish state agency Enterprise Ireland will provide €50 thousand investment and will help with the launch of the business in Ireland.

The investment will be received by:
– “Confideal” blockchain-service engaged in support of transactions under smart contracts;
– “Speakus” cloud service of professional simultaneous interpretation;
– “Uniday” the developer of games in augmented and virtual reality.

Each project will receive investments in exchange for 10% of the company. Startups will be provided with mentoring support and assistance with company registration in Ireland.

Enterprise Ireland is also committed to help founders and their families with moving to Ireland. In the case of rapid growth the projects will be able to receive up to €500 thousand of additional funds within 18 months.

“We are planning to stay in Dublin for five months. During this time we’d like to enter the market and find b2b clients in Europe working with cryptocurrencies, and make sales of at least 500 contracts and to create a database of arbitrators for arbitration”, – says the head of “Confideal” Piotr Belousov.

Competitive Start Fund program is conducted with the same conditions since 2015. In 2015, two projects from Russia were admitted to the programme, and in 2016 – four projects.

Competitive Start Fund is the investment Fund of Enterprise Ireland, it aims to accelerate the development of start-up companies with high potential for innovative product development or services in the international market. The Fund is investing in early stage startups: the business must be no older than three years, have the potential to create ten jobs and sales of €1 million within 3-4 years.

“Confideal” service that allows users to conclude and accompany the commercial contracts on the basis of smart contracts with Ethereum blockchain without programming skills.

“Uniday” games developer in augmented and virtual reality. In addition the company is developing back-end services for games, 3D content and animation, 2D art, interface design.

“Speakus” — IT platform, supports remote simultaneous interpretation at events with foreign speakers and participants. There is no need for organizers of events to rent expensive equipment and place translators at venues.

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