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The Slush controversy continues. After the startup event faced a backlash for awarding top prize in its pitch contest to a UK company founded by two Russian citizens, organisers have backtracked on the decision and revoked the award. The startup in question, Immigram, helps people from countries including Russia, Ukraine and the US apply for the UK’s global talent visa.

We're curious: what do you think of the reversal — and the questions swirling around investing in Russian founders more generally? Send your thoughts to Amy. 

Speaking of tech events you don't want to miss: plans for next year's Sifted Summit are underway! Join us on October 4-5 next year for all of the talks, networking and roundtables your heart could desire. To get ahead of the crowds, you can pre-register here. 

From the Sifted newsroom:

• Metaverse startups to watch, according to VCs
• Ukrainian university launches the country's first spinout fund
• Female founders still underrepresented in Germany 

Google Ventures looks to grow. The venture arm of tech giant Alphabet is set to hire at least one new partner in London and is prepping to make more investments in Europe, despite the downturn hitting the continent's tech scene. 

Sifted caught up with one of GV's Europe-based partners, Tom Hulme, to find out what kind of startups he's hunting for, whether he thinks VR will ever really have its moment and why he believes valuations haven't shifted as much as you might expect in Europe yet. Eleanor Warnock has the juicy details here.

In uncertain economic times, it’s critical to keep on top of your runway and burn rate. Read about how to look ahead at your runway and how to calculate burn rate in Ledgy’s deep dive.

Read here.

💭 Is this Europe's dotcom moment? Most of the big players in Europe's tech scene right now weren't around when the dotcom bubble burst in the 2000s. But some were... so we asked them: are we in for a repeat?

👾 Metaverse startups to watch. Not knowing what the metaverse could look like hasn't been much of a deterrent for investors, who have pumped around $666m into the sector in Europe so far this year. Here, top VCs highlight 14 metaverse startups they're keeping an eye on — covering everything from AI voice alterations to designing clothes for your virtual avatar.

👋 How to up your networking game. Making new connections in a formal setting isn't usually thought of as a fun activity — but, as Miruna-Ioana Girtu suggests, there's real value to be found if you go about it the right way. She dishes out her advice on how to make meaningful professional links that last — without any of the cringe.  

Sifted Summit is back! Put it in your diary now, because you’re not going to want to miss what we’ve got lined up. Four stages of fresh, fun content, practical workshops, a startup expo, networking and more... join us as we uncover the very best of startup Europe. More exciting announcements are coming, so make sure you’re signed up to stay in the know.

Pre-register now!

🤦‍♀️ Female founders are still underrepresented. It may not be surprising news, but it's disappointing nonetheless: just 20.3% of founders in Germany are women, according to the 2022 Female Founders Monitor. Sifted delves into the data to figure out the issues still facing the region. 

💰 Starling Bank blocks crypto-related transactions. The collapse of FTX has sent shockwaves through the blockchain, and now they've reached regular fintechs too. The UK-based neobank has told customers it won't allow them to buy any crypto with money in their Starling accounts and is restricting transfers involving money that's recently been converted from crypto. How far will the fear of contagion spread?

💶 Poland's bValue launches a third fund. The VC has raised €72m of a target €100m fund, to invest in later-stage companies in central and eastern Europe. It's a shift from its previous two funds, which both focused on early-stage startups. It says competition from international VCs has increased at the early stage, so it's changing tack and addressing one of the big funding gaps. 

😷 The app hoping to help with long Covid. Around 100m people around the world could be experiencing side effects of coronavirus that linger after the initial infection has faded. Visible, a startup founded by one of those sufferers, is launching an app that helps those with long Covid track their symptoms and manage their condition. 

🎓 Ukrainian university launches spinout fund. University spinouts tend to be concentrated in western Europe. However, the Ukrainian Catholic University is looking to change that, with a new $1.5m fund to support fintech, SaaS, edtech and AI startups at early stages. 

🤔 Slush backtracks on pitch competition award. Outrage met the startup event's decision to give top prize (and €1m from five top VCs) in a pitch contest to a UK startup founded by two Russian citizens. In response, Slush has reversed the decision and revoked the award. 

🤖 Alpha Intelligence Capital launches a second AI-focused fund. The Luxembourg-based global VC has raised $100m of its $300m target, which will be used to back startups working on AI innovations — despite global investment in the sector dipping by 36% in 2022. It plans to support up to 30 companies at Series A and B stages.

Europe is home to some of the most exciting clinical trials exploring the relationship between psychedelic drugs and mental health. In our latest report, we find out how startups are fine-tuning safety standards and business models as they set their sights on global domination.

Read it here.

This report is exclusively for Sifted Pro members. Get in touch with the team today with code PSYCHREPORT10 for an exclusive discount! 

Sadia Nowshin

Editorial Assistant

Get in touch with her at

sadia@sifted.eu

She tweets from 

@sadianowshin_

Amy Lewin

Editor

Get in touch with her at

amy@sifted.eu

She tweets from

@amyrlewin

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