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Oct
29
2018

Latvian startups competing tomorrow for a chance at 1 million euro investment

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On October 30, ten of Latvia’s best seed-stage startups will compete to represent the country at the Seedstars Summit to win a chance to win up to USD one million in equity investments and other prizes.

Seedstars World, the largest startup competition for emerging markets and fast-growing startup scenes is coming to Latvia for the second time. Seedstars will be holding a dynamic pitch event on October 30 at SEB Bank Innovation Centre (Vaļņu iela 11, Riga Old Town). The event is public attendees can register here.

After a careful screening, the Seedstars team shortlisted around ten of the best seed-stage startups in Latvia to pitch on October 30 for the opportunity to compete at the Seedstars Summit that annually takes place in Switzerland. On top of that, startups will be part of “Pitch Bootcamp” powered by Magnetic Latvia, which will take place on October 27th at the Buildit Accelerator. 

During the event, Nika Aleksejeva will take the stage with a keynote presentation. She is a data journalism trainer at School of Data project in Latvia, a data activist, researcher, communicator and has extensive experience in different open data projects. She has been organizing numerous initiatives around Civic Tech for the past several years and she will share her experience with the attendees.

In addition to demonstrating a minimum viable product with existing traction, judges will also be looking for the startup's regional and global scalability.

At the pitching competition, the winning team will be selected by the experienced jury members. Among the jury members will be Olena Boytsun - Investment Lead for CEE region at Luminate , Olga Barreto Gonçalves - Chief Start-up Instigator at the Investment and Development Agency of Latvia, Karina Lapina -Head of Recruiting at Startup Wise Guys, Peter Marculans - Managing Partner at Overkill Ventures, Martins Lasmanis - Investment Manager at Imprimatur Capital and Daniela Guzun - Associate for CEE & Central Asia at Seedstars.

Selected startups participated in a one-day starutp bootcamp, where Seedstars brought local and international mentors to work with startups to improve pitch decks and ensure a flawless delivery at the final event. 

Among the mentors, there will be Lone Jensen - Managing Director Fintech at Startup Wise Guys, Arturs Bernovskis - Founder and CEO at Efectio ltd and the Seedstars Ambassador in Latvia while Head of Partnerships at Baltic Sandbox, Ieva Upeniece, in addition to Seedstars representatives, Eugenia Shevchenko, Daniela Guzun and Agahuseyn Ahmadov.

“At Seedstars, we believe talent and good ideas are everywhere. We see ourselves as a platform connecting investors to the next generation of startup entrepreneurs in places where normally people wouldn’t think the startup ecosystem has such traction, growth and buzz. We are very excited to be in Latvia, highlighting such a bustling entrepreneurship ecosystem and we are here to witness the reality”, explains Agahuseyn Ahmadov, Regional Manager for CEE & Central Asia at Seedstars, “We are also experts in identifying which are the ones to pull through and how. We’re impressed by what we have seen in the region so far and cannot wait to add startups from Latvia on our map.”

It’s Seedstars’ goal to place the spotlight on entrepreneurs from emerging markets, especially those targeting solutions that align with UN Sustainable Development Goals. With that in mind, Seedstars World is traveling to more than 65 countries to identify the most innovative seed-stage startups, awarding them the opportunity to win up to USD one million and network with investors and mentors from around the world at the global Seedstars Summit in Switzerland. Its previous participants have raised over USD 120 mn collectively, providing employment to more than 2.100 employees worldwide.

With a strong network of international partners, such as Merck, SPECo, Enel or Continental (amongst others) the competition organizers are looking for smart startups that tackle regional issues and develop profitable and sustainable products for the global market.

This event is hosted with the support of main sponsor Luminate and the silver partner, Magnetic Latvia, and supporters: SEB Bank Innovation Centre, Buildit Accelerator, TechChill, Digital Freedom Festival.