Footwear innovators, Epsilon -- trading as Digitsole -- have won the first regional semi-final of the Startup World Cup for Luxembourg, held at the office of EY Luxembourg yesterday, putting them forward for a grand finale in Silicon Valley due to take place on 24 March and within reach of the €950,000 investment prize. 

A company with a unique business model in the ‘connected footwear market’ Epsilon have developed devices such as foot-warming shoe soles that make it possible to regulate the temperature of your shoes using a smartphone. The first smart shoes were launched in 2014, achieving a turnover of €2 million from more than 15 countries in 2016. 

Company creator, Karim Oumnia, intends to maintain his R&D arm in the company’s home-base of Nancy, and to open a marketing and sales subsidiary in the United States. Epsilon’s products are targeted at the health, sport and building sectors and are useful not only to runners and cyclists, but can also be used by professionals working in cold outdoor environments or people with Raynaud’s disease. 

Yesterday, during the award ceremony in Luxembourg, Malik Issalah, Marketing Director at Epsilon, said: “Our main goal is not about making gadgets, but about communicating with our clients, being connected with them and offering then new functionalities.”

The jury assessed each project based on eight categories, including the original concept, its ability to meet market needs, sustainability, team strength, problem solving skills, competitive advantage and overall presentation.

The jury members of the Luxembourg competition were Edith Magyarics, CEO of Victor Buck Services, Raz Bachar, head of Startup Business Development, EMEA, Amazon Web Services, Warrick Cramer, global head of SCM Strategy & Innovation, Vodafone, Yannick Oswald, principal, Mangrove Capital Partners, and Alain Rodermann, founder and managing partner, Expon Capital.

Epsilon was up against a field that included MyScienceWork, whose co-founder Virginie Simon has just received an award for her work from the French government, and also included SnapSwap, Nomoko, Wizata, Houser, JUDG, Opinium, SESAMm, and Birdee.

The Startup World Cup is part of a global series of conferences and competitions with 16 regional events that will eventually lead up to a grand finale in Silicon Valley on 24 March. Epsilon will now compete against 15 other international teams at the grand finale, giving them a globally-visible platform to showcase their work, and access to other conferences and networking sessions. There  is also a US$1 million (€950,000) investment prize at stake.

 

Image: © Dominque Gaul