Tashkent, Uzbekistan (UzDaily.uz) — The Spaceborne startup from Uzbekistan has been included among the 16 finalists of the fourth Demo Day of the international Constructor Start programme, selected from more than 2,100 applications from representatives of 94 nationalities.
The final will take place on 21 September in Bremen, Germany, where investment decisions will be announced directly on stage, according to a Constructor Start press release.
Spaceborne is developing microwave thermal propulsion technology for use in satellite engines. The startup became the first representative of Uzbekistan to join the programme's fourth cohort, alongside the first startup from Georgia — Hi Holo from Tbilisi.
Constructor Start notes that the entry of Spaceborne and Hi Holo into the final is part of the programme's global strategy of seeking out technology companies in markets where DeepTech potential is not yet sufficiently represented among investors.
In total, the fourth Demo Day includes 16 companies working in industrial technology, space, biotechnology, advanced computing and quantum technologies, as well as applied artificial intelligence.
Constructor Capital invests US$100,000 directly in each winning team in exchange for a stake in the company.
Under the current selection, investments totalling US$300,000 have been confirmed. In addition to direct financing, finalists gain access to potential additional capital through Constructor Start's network of venture funds and business angels. The total volume of available financing may reach US$1 million.
Investment decisions are made taking into account a number of criteria, including the company's mission and vision, product, pricing model and scalability. According to the programme, graduates of the previous Demo Day attracted more than US$10 million in follow-on financing after last year's selection alone.
The current cohort also includes two startups — CAUSENEX and Cytokyn M — created on the basis of Constructor University.
CAUSENEX is developing a predictive maintenance system for industrial assets using plug-in sensors and causal artificial intelligence technology. Cytokyn M is working on a next-generation candidate — an IL-1 receptor antagonist for treating Long COVID and chronic inflammation associated with ageing.
The Demo Day will take place on 21 September in Bremen.
The event also includes discussions with the participation of researchers, company founders and investors on advanced technologies, their commercialisation and the creation of technology companies.
