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Kuznech Wins IDCEE Startup Competition

Files under: News
Posted by: admin @ 15:27 [20. 10. 12]

IDCEE 2012 start-up competition has been won by Kuznech, a Russian web start-up. Kuznech got EUR 15,000 cash prize. The other Russian startup Flocktory got the 2nd place and EUR 10,000 in cash. The Czech start-up realPad was named the 3rd at IDCEE 2012 startup competition and won EUR 5,000 in cash.

Kuznech helps to find similar images. Kuznech says that it uses statistical methods to compare images as whole without getting into their content. It claims to have a technology to index and find similar images by up to 150 dimensions without significant calculations required. That would give it significant performance improvement over other approaches and allow for unlimited scalability, the company claims.

In July 2011, Kuznech received 22.5 million Roubles (ca. $0.75 million) from Skolkovo Foundation and 7.5 million Roubles (ca. $0.25 million) from business angel investors. Based in St. Petersburg, Kuznech is headed by Michael Pogrebnyak, CEO and Pavel Cherkashin, VP of Sales. Previously, Kuznech won SVOD 2011 Startup Competition (November 2011), TechCrunch Moscow 2011 (December 2011), YourBusiness — YourFame Startup Competition at RIF 2012 (April 2012), MoneyTalks Startup Event (May 2012) and BIT 2012 (June 2012).

The Internet conference IDCEE was held in Kiev, Ukraine on October 18-19. Flocktory offers a social marketing referral platform. realPad offers an iPad app for realtors and residential real estate developers.

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