The international investment group Flashpoint has announced the third annual SummerSaaS conference to be held online on June 9th and registrations are open. Startup companies have a chance to pitch their ideas before the industry’s moguls for the chance of seed and late-seed funding. Over 30 VC firms and investors from Central Eastern Europe (CEE), Finland, Israel, and the Baltics will oversee the pitching and make the decisions.
The conference will cover the same 5 tracks as in previous years: Fintech, New Economy, Vertical SaaS, Horizontal SaaS, and Developer Tools. This year’s conference will feature a new addition: Tech Startups Operating in Ukraine.
VeliServices is one of the 30+ firms to participate in the SummerSaaS conference of 2022. We’ve invited Gia Janashvili, one of VeliService’s founders, to tell us more about the event itself and share some insight into what pitching companies can expect.
VeliServices is a firm focused on B2B2C partnerships, especially in the iGaming market. As an entrepreneur with partnerships throughout the world, Mr. Janashvili shared his opinions on the Flashpoint event, listing the key reasons startups should attend the event.
SummerSaaS is one of the many events that VCs and investment funds hold as a way of giving a needed push to promising startups. What started as an online competition soon grew into a conference that welcomed over 250 VCs, 60 Angel Investors, and 440 entrepreneurs at last year’s attendance alone.
The SumerSaaS starts with Flashpoint - the organizer. It chooses the best 25 startups from the bunch of attendees, with the selected few pitching in front of the panel jury. A total of 6 winners will be chosen by the end - one for each category. The event ends with the Grand Finale, with the finalists pitching their ideas for a second time, and the VCs choosing the best one.
Only companies in their seed or post-seed rounds can enter, meaning, they need to have a monthly recurring revenue of $10,000 to $100,000 and/or have raised between $300,000 and $3 million.
Due to the current state of the world, the competition will be held online on June 9th, 2022. Even though it might not be physically attended, the conference is expected to have more participants than it did during previous years. The digital cushion the world got used to in the previous years bounds to grant every startup, regardless of location, the chance to partake in the competition.
VeliServices emphasizes B2B2C partnerships in tech and SaaS. It’s the first time this company will enter the conference.
- Startups in the tracks of Horizontal SaaS (sales, HR, support, productivity) and Developer Tools (R&D productivity, DevOps, product analysis) are at the forefront of interest for us. The iGaming industry is consistently growing and bringing along more challenges. Due to this, companies can no longer afford to enter this market alone, which then puts more emphasis on forming stronger partnerships says Gia Janashvili and continues;
- This is where we come in. VeliServices continuously seeks to connect with and aid startups that boast the potential to bring more capital and overall development to the industry.
Why Participate in SummerSaaS?
According to Gia Janashvili, taking part in this type of event can boost a startup's overall portfolio and visibility in the market. SummerSaas is a place where firms at the threshold of their development get to meet with peers and socialize in order to create viable partnerships.
Apart from the knowledge gathering and networking, startups get the chance to fund their ideas. Last year, around $10 billion AUM was provided from over 50 VCs to 25 selected companies.
The category winners will get sponsor prizes from the VCs and Flashpoint’s portfolio companies. These can be cash awards, discounts, free courses, etc. The newly introduced pitch track will grant the winner a monetary prize.
- The event isn’t just a competition but an overall conference where companies get a better insight into the effects of funding the ecosystem during Covid and debate whether Zoom pitching is effective in investing, says Gia.
- It’s a great meeting point for startups and investors, as well as for B2B2C connections. Startups can learn what’s new in their field of expertise, see what their competition has to offer and even share some tricks concerning the industry’s practices. SummerSaas is an excellent way to help startups move up the industry ladder, he says.
Other topics will cover liquidity and the possibility of secondary liquidity in the early stages, funding venture debt and the myths surrounding it, as well as digitalization of VC firms and exits through SPACs.
We can expect the 2022 SummerSaas to bring even more to the table, ultimately proving that the startup ecosystem is livelier than ever and thriving.
To register click here
To contact Gia Janashvili or VeliServices click here