This year's IBU Demo Day showcased the 13 most promising student teams who have worked hard through the Burch StartUp Incubator and are already in the development phase of their first product or service.
Teams presented their business ideas to an audience of representatives from domestic companies, organizations, and institutions, who were then tasked with assessing or offering them a specific type of help, support, cooperation, or investment via the app.
Teams were incredibly happy when the audience offered them 13 investments in their startups, 30 business meetings, 18 connections, 8 internships or scholarships to individual team members, and 6 symbolic donations at the end of the event.
"This has exceeded all expectations, and a big thank you to the partners who recognized the potential and importance of investing in these young people's ideas. Education is only one component required in the development of entrepreneurs, and it takes all of us to work together to create a better environment for young people and encourage their progress and development. We are all responsible for fostering future entrepreneurs in Bosnia and Herzegovina " said Admir Salihagi-, the Burch StartUp Incubator's coordinator.
Assoc. Prof. Dr. Mersid Poturak, Rector of International Burch University, opened Demo Day by saying, "IBU has prepared investments on its part through the StartUp Investment Fund together with partners, and we will invest in some of these start-ups. Over 500 ideas have passed through our Incubator in the last seven years, and 12 companies are now successfully operating. This event will allow you to see why IBU is the first true entrepreneurial university in BiH and the region.“
The European Fund for Southeast Europe (EFSE) recognized the event's significance and provided financial assistance to the three best start-ups. EFSE is a fund that promotes economic development and prosperity in Southeast Europe and the EU's eastern region.
"The EFSE is working to strengthen the entrepreneurial ecosystem through the Entrepreneurial Academy. We are doing everything possible throughout the region to provide entrepreneurs with training, mentoring, networking, and financial assistance in collaboration with local partners. We are delighted to be here today and to have the opportunity to take part in such an event " stated Ermin Bahtanović, Finance in Motion, EFSA.
For the best, EFSA provided valuable vouchers worth 1000 KM for third place, 1300 KM for second place, and 1600 KM for first place. After all of the teams presented their startups and the audience had time to analyze and evaluate them, Team Fighur came in third place, according to audience votes, with the idea of creating a corset to help people with spine deformities or improper posture.
Team Metafour took second place with their software, which translates speech into sign language and vice versa, and team Wheelfit took first place with the world's first mobile application for wheelchair fitness.
The Kalcess platform was also presented at the event, which is the result of two ERASMUS+ projects involving the International Burch University and aims to connect students, businesses, and universities.