Spendbase Wins Ukrainian Stage of Startup World Cup 2024

The SaaS subscription management platform Spendbase.co has won the Ukrainian regional startup competition of the Startup World Cup.

They will now represent Ukraine in the Grand Final in San Francisco, where they will compete for a $1 million investment prize. SID Venture Partners, a partner of the Ukrainian stage of the Startup World Cup, will sponsor the winners’ travel and accommodation in the United States.

Backed by Google, Spendbase is designed for IT and finance teams to optimise corporate software usage and spending. The platform streamlines SaaS, Cloud, and corporate card spending, saving mid-sized companies up to 35% annually by identifying duplicate subscriptions and unused licenses.

Overall, the competition attracted more than 120 local startups, making it the largest national selection event in Ukraine’s history. Despite the ongoing war, the event drew over 150 guests and once again showcased the resilience and innovation of Ukraine’s startup ecosystem.

The Startup World Cup is a prestigious series of conferences and competitions for startups organised by Pegasus Tech Ventures. The initiative spans over 75 regional competitions in more than 20 countries, culminating in the Grand Final in Silicon Valley. The best startups from each region will gather in the United States to vie for the grand prize of $1 million in funding. The 2024 Grand Finals will occur in San Francisco from October 2 to 4.

Startup World Cup 2024: Ukrainian Edition

The Ukrainian stage of the Startup World Cup 2024 was organised by the EIT Community RIS Hub in Ukraine and Sigma Software Labs, with the support of the Ministry of Digital Transformation of Ukraine. The national contest featured two tracks: Established startups could apply directly to the final competition, while the Rising Stars participated in the UNICORN acceleration program by Sigma Software Labs. This program included intensive mentoring sessions and opportunities for startups to present their ideas to technical specialists and startup development experts.

At Sigma Software Labs, we see great potential in developing a community of product companies around us. That’s why, for eight years in a row, we have been the main drivers of the all-Ukrainian startup competition, which in 2023 transformed into the UNICORN program, providing a great start for young tech teams through mentorship and grant support.

Through our corporate venture, Sigma Software Labs, we do not just invest in early-stage ideas — we integrate them into the technological solutions that Sigma Software provides to clients worldwide.

Creating a unique synergy between products and services allows us to significantly reduce time-to-market, optimise budgets for MVP development, and deliver innovative solutions to our clients that exceed expectations. We believe that supporting startups and integrating them into our processes is the key to creating a future where innovation is the key to success.

commented Daria Yaniieva, Investment Director at Sigma Software Labs

With over 20 years of experience in IT, Sigma Software Group effectively collaborates with startups in creating MVPs and utilising technologies that reduce the cost of developing new products. By partnering with us, young projects manage their investments more efficiently, extend their runway, and maintain resilience while navigating the startup ‘Death Valley’ phase.

added Valery Krasovsky, CEO and сo-founder of Sigma Software Group