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Five Bulgarian water innovation startups get closer to funding and corporate validation

Five Bulgarian water innovation startups get closer to funding and corporate validation, TheRecursive.com
Image credit: Innovation Starter Accelerator, Cardinal Bites, participants in the first cohort of Innovation Starter Accelerator, with their mentor Violeta Yoveva
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Five startups will compete to finance their solutions on water sustainability in the final phase of the joint program of Innovation Starter Accelerator and “Sofiyska Voda AD”, part of the French corporation for water, waste, and energy management Veolia. The program opened in February and received over 80 applications. It is aimed at aiding sustainable development tech startups in the spheres of water treatment and water and network management. The five finalists will present their solutions on May 31, 2021, in Sofia Tech Park in front of a jury of investors and business entrepreneurs. The best ones will receive financing from Innovation Starter and technical support and validation from “Sofiyska voda AD” in a real corporate environment. 

Here are the projects that will participate in the final phase:

Digital Twins project by Ridotek – founded by Hristo Valyavicharski, IT specialist with entrepreneurial and working experience in companies such as Paysafe, Telerik, and Strypes, Ridotek develops software that collects data about objects to create their digital counterparts and generate simulations to predict how a product or process will perform. The solution of the startup will be developed for simulations in the renewable energy and water management sectors, in the sphere of manufacturing and for creating digital twins of buildings.

CW Engineering “Innovative wastewater treatment and green energy for the industry and households” – created by Rosen Ivanov, Chief Assistant Professor at the University of Mining and Geology “St. Ivan Rilski”, the project is developing passive systems for wastewater treatment that rely on parallel energy production. 

InnovaOne – representing innovation in school, the project was developed by a team of students in Harmanli. Hristo Hubenov, Dzhano Mihaylov and Darko Tachev were supported by their teacher Emanuil Manolov to develop a real-time reading tech solution that measures pollution. Winner in Rinker’s Academy for Local Entrepreneurs 4.0, the startup has already received BGN3K funding for developing its solution.

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SatGeo – developed by a team of GIS experts in the sphere of satellite image processing and led by Bilyana Nikolova, the project combines the work of scientists and engineers. Their solution is detecting failures along impounding structures and the water distribution network in residential areas. 

SmartWater – the solution, developed by Mihail Todorov, assesses the processes in water companies and their hardware and software technology to create an individual proposal for improvement and automation – from the reduction of the number of failures to reduction of the costs of water abstraction, treatment, supply, sewerage. Additionally, the technology evaluates the company experts and makes suggestions for suitable specialized training.

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https://therecursive.com/author/viktoriakuzmanova/

Viktoria is an Innovation Reporter at The Recursive and a sophomore-standing student at the American University in Bulgaria. Combining her Business Administration studies while mapping the Southeastern European startup ecosystem is a positive-sum game for her as she has the chance to interact with the most active entrepreneurs in the region. Her favorite topics include venture capital structures, investments, as well as innovations in the scitech and fintech sectors.