KYIV,
Ukraine, Sept. 17, 2024 /PRNewswire/ -- MITS
Capital, in partnership with American
University Kyiv, has completed the first cycle of its
MITS Accelerator Program. Through the program, each
participating startup received $200,000: $100,000
in direct investment in the company and $100,000 in unique expertise and services.
Following the successful graduation of the first cohort, MITS
has announced an open call for Batch 2 of the accelerator
program to continue shaping Ukraine's defense tech ecosystem. Ukrainian
defense startups can apply via the form or through the MITS
website until October 6,
2024.
The acceleration program has two stages, each
lasting three months: business acceleration, which covers
business education and specifics of defense production, and
post-acceleration support, which aims to prepare companies for
future exports and attract foreign investment.
MITS is looking for teams with a working MVP
(Minimum Viable Product, TRL 4-6
Levels) or who are as close to a functional product as
possible.
The following startup categories will be targeted for
acceleration in this phase:
- Ground robotic systems
- Unmanned aerial vehicles
- Unmanned surface vehicles
- Unmanned underwater vehicles
- Electronic warfare (EW)
- Communications, optical, and acoustic reconnaissance equipment
Military transport
- Mining/demining equipment
- Software, AI, and cybersecurity solutions
- Ammunition
- Laser Weaponry
- Equipment for the "soldier of the future"
MITS' co-founder Parry Boyle stated: "By creating the first
defense-tech accelerator in Ukraine based on the Y-Combinator model, we
have proven that Ukraine is not
just catching up, but becoming a leader in the development of
innovative defense technologies. The world will see that we are not
only the new Silicon Valley for drones but also a powerful center
of research and development for the global democratic
community."
MITS' Supervisory Board Member David Bonfili added "MITS
inaugural accelerator program has featured some truly impressive
Ukrainian defense-tech startups with the kind of drive that comes
from defending your homeland and a level of technical competence
that is without question world-class."
About MITS:
MITS is an international defense fund and accelerator with the
objective of raising substantial capital for the Ukrainian defense
industry in the shortest possible time frame to enable the
production of the necessary defense products for the armed
forces.
The Co-founders of MITS are Perry
Boyle, a former member of the Executive Committee of Point
72, LP, Anton Melnyk, co-founder of
the Association of the technological ecosystem of Ukraine
"Techosystem", former top manager of the Ministry of Digital
Transformation, and Denys Gurak,
former top manager of Ukrainian Defense Industry. The managing
partner at MITS Accelerator is Alina Lovchynovska, IT entrepreneur,
Head of Cloud Services Department of NIX company.
The MITS Supervisory Board includes prominent representatives of
the U.S., NATO and European defence:
- Ernest J. Herold, former NATO
Deputy Assistant Secretary General for Defense Investment;
- Dr. Phillip Karber, former
strategic advisor to the U.S. Secretary of Defense, NATO
Secretaries General and governments; former foreign policy advisor
to British Prime Minister Margaret
Thatcher.
- David Bonfili, co-founder of
ACME General Corp., who has held senior positions at investment
companies Citadel, BlackRock and Two Sigma, and was a research
fellow at the Institute for Defense Analyses.
- Monique Brown, Chief of Strategy
and Business Development at Actus Advanced Systems. Former Regional
Director, International Business Development at Lockheed
Martin;
- Dmytro Sholomko, 17 years of experience as Google's Country
Director in Ukraine and
Eastern Europe;
- Alan Merbaum, Aerospace and
Defense executive with over 35 years engineering and business
development experience at Lockheed Martin. Member of the US
Delegation to the NATO Industrial Advisory Group (NIAG), and Deputy
Chair, International Division of the National Defense Industry
Association (NDIA).
For more information, please reach out
at info@mits.capital.
Contact:
Diana Ivolha
+12032528696
383350@email4pr.com
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SOURCE MITS Capital