Coop projectsCoop updateScyNet

Comrade Coop project ScyNet wins a 250k investment reward at CEE Block

Winning the start-up pitch contest at CEE Block was a blast. It also validated that investors share our vision and see the potential of a transparent platform for AI builders.

As the biggest blockchain forum in Central and Eastern Europe, CEE Block brought together high-level policymakers from the European Commission and European Union member states, as well as an inspiring crowd of innovative entrepreneurs. The event took place in Sofia and was abundant of interesting discussion panels on the applications and impact of blockchain technology.

The first day also featured the exciting start-up pitch contest. From a total of 50 applications, 9 projects had made it to the final where they had the chance to present before a jury of seasoned investors. The reward – 250 000 euro and business mentorship.

As soon as the first few pitches went through, it was clear there would be some serious competition. From Centroida with their deep-learning applications, through Jarvis’ smart blockchain solution, to the decentralized Weidex exchange – most of the competitors had prepared well with engaging presentations.

We went sixth. We didn’t showcase, contrary to some other pitches where slick visuals were the main highlight. Instead, our presenter Maya Zhecheva dived into the nitty-gritty and demonstrated that our project has surpassed the ideation phase and we’ve made some real advances on the tech we promise.

The jury seemed genuinely intrigued. In the minutes following the pitch, they wanted to understand more about our business model and team.

Announcing the winner was left for the closure of the event on the second day. Until then, we enjoyed some of the interesting panels, with Todor Kolev, chairman of our Comrade Cooperative, taking part with thought-provoking answers and comments on the future of digital organizations (DAO).

The announcement of the winning start-up was preceded by a final speech, where the head of the jury and CEO of Telelink, Lubo Minchev, explained their decision criteria.

It’s always an amazing feeling to triumph and we all enjoyed the moment. The incoming funds will be of great help to advance towards launching a functional ScyNet by the end of 2019.

But what’s even more important is the reason Telelink chose to work with us. The jury was looking for a project that aims for a massive social impact. And they found this potential in the decentralized AI platform that we’re building and its infinite applications.

Here’s a warm shoutout to the organizers of CEE Block for the wholesome event. And big thanks to Telelink for recognizing our work and putting their trust in us.