The world’s biggest innovation and sustainability challenge announces first winners
Summary
The event also featured the finals of Webits Founders Games, one of the worlds largest growth challenges supporting exponential innovations for a resilient and sustainable future.Five companies out of the total 3,000 applicants from 140 countries succeeded in proving their business models and impact in front of a multinational, 250-investor jury. This is the worlds first collective-intelligence challenge of this scale.The finals all-star jury was chaired by venture capitalist and founder of the Draper Venture Network Tim Draper, former Lakestar partner and one of the first Facebook and Spotify investors Gilad Novik, Almaz Capital founder and managing partner Alexander Galitsky, F-Secure founder and previous Nokia chairman Risto Siilasmaa, Magic Venture Capital founding partner Ajay Ramachandran as well as Webit and Webit Investment Network founder and investor Plamen Rusev.Each of the winning companies received an investment award of 500,000 euros ($508,635), with the opportunity to increase the investment up to 1 million euros ($1.02 million) per company after the upcoming meeting of the Webit Investment Network (WIN) board of directors. None Cake 0 Emission a Swedish electric bike company that aims to contribute to a zero-emission society with technology that has been compared to that of Volvo in regards to safety and sustainability. None WechselGott a German fintech company offering a platform for the automatic collection of customer insurance as well as energy contracts and processing through various APIs. The company has raised $6 million in investor capital to date and announced the closing of an upcoming round in the next month.Its been one of the most competitive in all 12 Founders Games years of history.