On 24 October, Zubr Capital hosted the Zubr Capital Young AI Hackathon in Cyprus, bringing together university students and early-stage startup founders. The event attracted applications from more than 50 students and nine startup teams. During the hackathon, participants built AI-powered products from scratch or developed existing projects.
Over the course of a single day, participants researched their target audiences, tested key assumptions, set priorities and worked on minimum viable products (MVPs), experiencing the kinds of challenges startup teams face in practice.
Throughout the hackathon, teams received guidance from investors, entrepreneurs and senior executives from Zubr Capital’s portfolio companies. Mentors helped participants critically assess their ideas, refine product hypotheses and focus on the most important tasks.
The event concluded with final presentations before a panel of investors and industry experts. Teams pitched the products they had developed or improved during the day, explaining their key assumptions and the results of their work.
“In a startup, there is rarely enough time or information to make decisions with complete confidence. A hackathon makes this particularly clear: teams have to test assumptions quickly, distinguish what matters from what does not, take feedback on board and, when necessary, change their original approach. Ultimately, it is not just the idea that counts, but how quickly a team can learn and make decisions under uncertainty,” said Alena Padalnitskaya, Head of Student Programs at Zubr Capital.
The event marked the return of Zubr Capital Young Hackathon to Cyprus, where the first edition took place in October 2025, bringing together 50 participants and eight startup teams. The initiative has also been held in Warsaw and Almaty. This year’s Cyprus edition introduced a dedicated focus on AI, giving students and early-stage founders an opportunity to explore how the technology can be used to build and develop new products.
“Cyprus has a growing technology ecosystem, an international business environment and talented young people. We believe that building globally competitive technology companies starts long before their first investment round — at universities and through early entrepreneurial projects. That is why supporting the next generation of founders and helping them turn ideas into viable products is important to us,” said Oleg Khusaenov, founder and CEO of Zubr Capital.
The event marked the second edition of Zubr Capital Young Hackathon in Cyprus, following its debut on the island in October 2025. The initiative has also brought together aspiring founders in Warsaw, Poland and, most recently, in Almaty, Kazakhstan, where an AI-focused hackathon took place in September 2026. Together, these events form a growing international series connecting young tech talent with investors and experienced entrepreneurs.
About Zubr Capital
Zubr Capital is a Cyprus-based investment firm managing $250 million and backing 30 technology companies, including two unicorns. Its investor base includes the European Bank for Reconstruction and Development (EBRD), the Dutch Entrepreneurial Development Bank (FMO), and Wargaming.
