The newly launched video chatbot startup took home the 17th edition of the Creative Young Entrepreneur Luxembourg (CYEL) competition, followed by runners-up FabstWines and emma.
If the CYEL competition also awarded the best incubator of the year, this year’s prize would have to go to the Luxembourg City Incubator, as the top three startups are currently housed there.
In its 17th edition already, the CYEL is a yearly competition organised by the Junior Chamber International of Luxembourg, aiming to support and highlight Luxembourg’s young entrepreneurs (aged 18-40).
If the success of the last two edition’s winners (Circu Li-ion and Magrid) is anything to go by, Videobot is in for a great 2024. Already serving close to 200 clients and active in more than 15 countries, Videobot’s product is an innovative fusion of chatbot and video technologies, allowing businesses to provide on-demand product demonstrations and simplified explanations through short videos.
“We are beyond happy to see companies and consumers seeing value in what we do. Websites indeed are ready to leap on the next ladder from photos and text to interactive video.”
Matias Mäenpää, co-founder of Videobot.
While the € 4,000 prize money is not a lot to go by for a company aiming to secure 1,000 customers and €3m in billing by the end of next year, the coveted title of CYEL has been a good omen for many startups in the past.
“We have ambitious goals for 2024. We want to quadruple our subscriptions and prepare for a proper A round. We’re happy to say that some massive logos have already signed with us and we can go live with them in Q1,” adds Matias.
Runners-up FabstWines and emma have also been making waves this year, the latter raising $6m in March 2023 and the former having big ambitions to disrupt the hospitality industry and create a community of wine enthusiasts.
For more information regarding the remaining 7 finalists of the competition, see here.
