FB pixel

Innovatrics accepts pitches for biometrics startup incubator

Categories Biometric R&D  |  Biometrics News  |  Trade Notes
Innovatrics accepts pitches for biometrics startup incubator

Innovatrics’ startup incubator named Biometric Ventures is open for pitches from promising fledgling companies to invest millions of euros, technical support, and mentoring for new players in the biometrics industry.

A website for Biometric Ventures is open for pitches from biometric startups that are seeking a helping hand in building up their enterprise with help from the Prague, Czechia-based venture capital branch of the Slovakian company. In an interview with the Czech edition of Forbes translated by Google Chrome, Martin Vápeník, CEO of Biometric Ventures, says the goal of Biometric Ventures is to capture people generating ideas and promising projects at an early stage of development and elevate it to a final product.

Biometric Ventures is open for a range of pitches, from the traditional ideas for applications in privacy and security, electronics, healthcare, and fintech, to innovations for improve transparency for elections. If a pitch is successful, Biometric Ventures will guide the startup with incubation and pre-seed investment to establish a business plan and bring the product to the market. From there, it moves on to mentoring from biometrics veterans who will advise the startup on business plans and connect to the industry to avoid the complications and failures that befall many startups.

The incubator will also offer technical support in the form of an automated biometric identification system (ABIS) to support large-scale fingerprint, iris and face matching; a digital onboarding kit; ‘Smartface’ for facial recognition; and original equipment manufacturer solutions for fingerprint and face biometric algorithms.

Vápeník says Biometric Ventures has millions of euros ready for support and plans to invest up to 400,000 euros (approximately US$434,000) in individual projects, according to Forbes. “By combining these things, we go further than classic funds, and it is clear from the initial signals that this is a very interesting bonus for startups,” he adds.

Biometric Ventures, which was started in 2020, reports two startups that took off successfully: Ageware, an age verification software; and Elderly Care, a monitoring system for seniors to identify falls and respond to emergencies.

Vápeník also announced a competition to find the biometric idea of the year that is open for applications from the general public.

Biometrics developers are supported by other incubators and accelerators, like Mastercard Smart Path, that are not focused exclusively on biometrics.

Article Topics

 |   |   |   |   |   |   |   | 

Latest Biometrics News


Biometrics, electronic devices and identity credentials converging

Biometrics in electronic devices and ID documents to support digital identity are a major theme of the week’s top stories…


SITA wraps up acquisition of Materna IPS

SITA reports it has completed all necessary regulatory and legal procedures and finalized its acquisition of Materna IPS, a provider…


Payface lands new retail biometric payments deal in Brazil

Brazilian face biometrics payments startup Payface has clinched a deal with supermarket chain Ítalo. Ítalo Supermercados, based in the southern…


EU to fund digital programs with €108m, including digital identity

The European Union has issued a new call for funding within the Digital Europe Programme (DIGITAL), allocating over 108 million…


Lawmakers try again to kill diversion of TSA screening tech funds

Because of Washington partisan politics, the U.S. Transportation Security Administration (TSA) doesn’t expect to be able to field upgraded and…


Florida tosses mDL program into the Gulf

Florida’s mobile driver’s license has been shut down, making the state a rare case in the world of a place…


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events