Cryptelo Q4 2018 Report

Dear Cryptelo supporters,

The holiday season is behind us and it is time to look back and recap the last months of the year.

Winning a battle

During the last quarter of the year, we had to face an unexpected problem with one of our early investors, who is also a minority shareholder. Along with another companion, he submitted unjustified and purposeful insolvency petition against Cryptelo in order to take over the company. During the trial, the petition was rejected and the court concluded that the proposal had a dishonest intention and indicated the act as a typical example of bullying behavior. However, since we lost several business opportunities and planned investments and the company's reputation was damaged we decided to press charges and claim for the indemnity. Nevertheless, this inconvenience has not changed the fact that we keep working hard on delivering the best security solutions.

New partnership

Even though Cryptelo was under the attack of one of the investors, we managed to start a new partnership and join several events and programs. First of all Cryptelo has become a Digital Ocean partner and was accepted to its program called Hatch which helps startups to grow their business by giving them the cloud infrastructure they need to grow quickly. As a reward Cryptelo received 10 000 USD for further development of cloud infrastructure.

Events

October and November were the busiest months regarding events. Apart from International XV. IT Governance conference and PwC Demo day that we discussed in Q3 2018 report, Martin Baroš pitched for corporate CEOs from top French companies in Czech Republic at an event organized by the best CEE accelerator StartupYard.

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Cryptelo was also invited as an alumni to join StartupYard's Demo Day, where new startups from batch no. 10 were pitching for investors, mentors, media and community.

Cryptelo's VP of Business Development Marek Duda was one of the lecturers in GDPR seminars organized by Eva Škorničková. If you want to deepen your knowledge regarding GDPR or learn the latest news, join upcoming seminars.

December was dedicated to V4 Innovators in Israel Training Program. Cryptelo, represented by Marek Duda, was selected by the Czech government and Israeli embassy to participate in an intensive three-weeks long program in Israel, which was based on various workshops, networking and mentoring sessions mainly with a focus on business skills.
Another significant dimension of the program was an introduction to extraordinarily successful Israeli startup ecosystem by visiting Technion – Israel Institute of Technology, one of the best universities in Israel which has an immense impact on Israel startup success. Graduates from Technion, a high-tech powerhouse, have established over 1 800 startups creating over 100 000 jobs in past 20 years. Technion also educated 4 Nobel prize winners. One of them - Dan Schechtman - was also precious guest to the program, introducing his own contribution to Israeli startup nation by establishing an entrepreneurial course on Technion University.
During the program, Marek had the opportunity to meet many interesting people, including new Ambassador of Czech Republic to Israel Mr. Martin Stropnický, who is also former Minister of Defence (on the picture below). Last but not least, V4 innovators program participants established a new international platform for startup collaboration Visecrunch with a great vision of pushing CEE region among the top innovation and technology epicentres in the world. Good luck with such an amazing idea!

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Martin Baroš

Martin Baroš

Co-founder & CEO at Cryptelo by profession, cyber-security enthusiast at heart, and a believer in a better world. He welcomes challenges and doesn’t like to give up.

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