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Jun
02
2016

First startup accelerator in Latvia begins application process

From 1st of June B2B startups are invited to apply for the first startup accelerator program in Latvia – “Startup Wise Guys Riga powered by Lattelecom”.

Comprehensive 3-month program will take place starting of September 2016 and will provide kick-start to young business people, who are ready to go all-in and execute. Accelerator is managed by international and experienced team combining Latvian, Baltic and global expertise and powered by leading ICT company – Lattelecom.

“Startup Wise Guys” (SWG) is the leading B2B  SaaS (Business to Business Software as a Service Business Model) accelerator in Baltics,Central and Eastern Europe. SWG has completed already 6 cohorts accelerating 52 companies, making SWG the largest investor in B2B companies in the Baltics and the entire CEE region. In partnership with Lattelecom, the first accelerator program in Latvia “Startup Wise Guys Riga powered by Lattelecom, will be launched already this September.

“Lattelecom is looking for a new IT start-up ideas and projects that we can help to develop using our experience and technologies. We are glad to start cooperation with the leading startup accelerator in Baltics to make this happen” said the Director of Corporate Development of Lattelecom Kerli Gabrilovica. “At the end of last year Lattelecom established Startt division to develop innovative products and services using startup approach as well as to establish operational synergies with startups building products that would benefit Lattelecom customers. We are committed to support the startup community and being a value-adding partner for new tech startups.”

Riga is the perfect match to be the next step in the Startup Wise Guys “family” – strong and dynamic startup community, local partners like Lattelecom and TechHub Riga and great geographical location with easy access to an airport hub with connections to the rest of the world. The new accelerator programm will create opportunities for Latvian and Baltic startup community, build a wider pool of talent and opportunities and help strengthen Baltics as perfect launching pad for global startups.

The applications for the accelerator program opens on June 1st and all B2B startups  will be able to apply until July 31st. Top 20 startups will be invited for a 2 day intensive program in late August and the 8 lucky selected ones will have access to 3-month long program starting already on September 19th.  Program will provide mentorship from leading entrepreneurs and executives in Baltics and CEE and also initial funding in the amount of 20 000 euro.

“We are looking for great founders. We want to see strong teams with an early traction or data points to validate startup's core assumptions. But in short, you must convince us you are the A team that will make it happen, no matter the difficulties ahead. In change we offer likely the 3 most intense months in your business life, surrounded by an amazingly passionate, international and experienced management team, initial funding and a pool of mentors and partners to truly accelerate your B2B startup” says “SWG Riga powered by Lattelecom” Managing Director Cristobal Alonso.

“SWG Riga powered by Lattelecom” will be run by an experienced team: Cristobal Alonso - the ultimate "make it happen" person - serial entrepreneur, board member, mentor and an experienced executive with focus on telco, media & software development, Egita Polanska – having run startup accelerator Techstars in US and a tech co-working space TechHub Riga, Dag Ainsoo, has extensive financial experience both as a CFO in several successful growth companies and also as angel investor himself. Maris Prii, who before has built up a startup-company, and has been prominent on establishing our previous venture funds in the company.