MITS graduates first batch of Acceleration Program

MITS Capital, 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" 

"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," says MITS' co-founder Parry Boyle. "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 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," says MITS' Supervisory Board Member David Bonfili.