Connecticut Innovations announced the winners the 2019 VentureClash Global Venture Challenge. The $5 million global investment challenge brings together early-stage digital health, FinTech, InsurTech, and Industry 4.0 companies from across the globe to compete for investment, mentoring, customer introductions, and services from Connecticut Innovations to help them grow and succeed in Connecticut.
This year’s competition attracted more than 300 companies from 20 countries around the world, all of which completed initial applications this past June. Finalists were selected following two rounds of judging by an outside panel of industry leaders and subject matter experts.
Ten companies from four different countries participated in the final pitch event, which took place at the Yale University on Thursday, October 17. VentureClash judges awarded investments to eight of the finalists, all of whom will also receive access to mentoring and customer introductions to help them grow and succeed.
The top investment award of $1.5 million went to Pineapple, a South African peer-to-peer insurance company with an application that enables individuals to insure their possessions by simply snapping a picture and uploading it to the mobile application. Pineapple had previously won the $25,000 VentureClash Innovation Prize provided by Travelers, which was awarded to companies developing solutions and pursuing market opportunities in InsurTech.
Other investment award winners included:
- Atidot ($750,000): An Israeli-based InsurTech solution that uses artificial intelligence, machine learning, and predictive analytics to help life insurance companies optimize their books of business.
- Cinchy ($500,000): A company creating a new alternative to buying and building applications that brings data collaboration to the enterprise.
- Covr Financial Technologies ($500,000): A company simplifying the way life insurance is sold by offering financial institutions a digital platform to sell leading insurance products in the most efficient way possible.
- Curatio ($250,000): A Canadian company building a mobile platform that matches patients to others who understand what they’re going through in a private, secure environment.
- DEEP ($250,000): An Israeli company developing a platform that uses artificial intelligence and practical machine learning technologies to create contextual visual storytelling elements, including semiautomated video production.
- EyeControl ($750,000): An Israeli company creating an innovative communication device for individuals who suffer from complete paralysis.
- MothersChoice ($500,000): A company creating the next generation of personal care products scientifically proven to be healthy, safe and 100% natural.
The winning companies are required to establish a presence in Connecticut. As an investment award winner of VentureClash, companies are eligible for an investment from Connecticut Innovations, pending due diligence and approvals.
“Each year, the number of impressive and promising innovative young companies participating in VentureClash grows, and this year’s competition was no exception,” said Connecticut Innovations CEO Matt McCooe. “We congratulate the winning companies, which, by engaging in the VentureClash process, have come to learn about the resources and opportunities available to them to grow and scale their businesses in Connecticut. We look forward to continuing to support these companies.”
Managed by Connecticut Innovations, VentureClash is Connecticut’s global venture challenge focused on early-stage companies. The challenge, launched in 2016, identifies high-potential companies in digital health, IoT, InsurTech and FinTech that will compete for investments from a $5 million award pool. Visit www.ventureclash.com to learn about qualifications, requirements, guidelines, and how to apply.
About Connecticut Innovations
Connecticut Innovations provides venture capital and strategic support for innovative, early-stage technology companies; financial support for innovation and collaboration; and connections to its well-established network of partners and professionals. For more information, visit www.ctinnovations.com.
Interested in learning more about Connecticut Innovations?
Read our interview with Connecticut Innovations CEO Matt McCooe