Zubr Capital hosts second Cyprus AI hackathon for students and startup teams

Nicosia, Cyprus. Nine startup teams and over 50 university students participated in the second Zubr Capital Young AI Hackathon in Cyprus on October 24. With support from investors and experienced entrepreneurs, they developed artificial intelligence products and put business ideas to the test.

Building products and testing assumptions

Hosted by Zubr Capital, an investment firm based in Cyprus, the single-day event tasked participants with creating AI-powered products or upgrading projects already under way. It also gave them practical exposure to the pressures of running an early-stage business.

Within the time available, teams followed a startup development process: researching intended users, checking their main assumptions, setting priorities and developing minimum viable products (MVPs).

Investors, entrepreneurs and senior executives at businesses in Zubr Capital’s portfolio mentored the teams during the event. Their guidance helped participants examine ideas critically, sharpen product hypotheses and focus on work most likely to move their projects forward.

The final stage involved pitches before investors and industry specialists. Teams presented new or improved products, outlined the assumptions behind them and explained what their work had achieved.

Learning to decide under uncertainty

Alena Padalnitskaya, head of student programmes at Zubr Capital, said startups seldom had sufficient time or information to reach decisions with full confidence.

She said hackathons highlighted that challenge by requiring teams to check assumptions rapidly, separate important issues from less relevant ones, respond to feedback and revise their initial approach when needed.

Padalnitskaya added that an idea alone was not decisive: a team’s ability to learn rapidly and reach decisions despite uncertainty also mattered.

Second edition in Cyprus

The initiative first ran in Cyprus in October 2025, drawing eight startup teams and 50 participants. The October 24 event was its second edition in the country.