AI video startups Runway and HolyWater Tech discussed their roles in disrupting the global entertainment industry during a panel at StrictlyVC Athens 2026.
The discussion highlights a shift in how creative content is produced, as artificial intelligence moves from a niche tool to a primary driver of cinematic and digital media.
Connie Loizos, TechCrunch Editor-in-Chief, hosted the panel in Athens, Greece. The conversation focused on the trajectory of these two companies and their efforts to challenge traditional creative industries. Both companies have spent seven years [1] disrupting the sector since their founding.
The participants shared contrasting origins of growth. HolyWater Tech began its operations in Kyiv. The company launched with no venture capital [1] and operated under a mandate to be profitable from its first day of business.
Runway's path differed, starting with a focus on helping filmmakers before expanding its ambitions. The company now seeks to compete with major technology firms like Google in the AI space [2].
The panel explored how these distinct business models — one born from a lean, profit-first approach in Ukraine and the other from a filmmaker-centric toolset — have converged to upend the entertainment landscape. The speakers said their technology allows for a scale of production that was previously impossible for small teams.
As the industry evolves, the focus for these companies remains on the intersection of artistic intent and machine learning. By lowering the barrier to high-quality video production, these startups are altering the economic structure of film and digital art.
“Both companies have spent seven years disrupting the sector since their founding.”
The divergence in the founding stories of Runway and HolyWater Tech illustrates two different paths to AI scaling: the venture-backed growth model and the bootstrapped, profitability-first approach. Their combined impact suggests that AI video is no longer just an experimental feature but a disruptive force capable of challenging both traditional Hollywood studios and big-tech incumbents.
