The pulse of Latvian startup scene: Week # 23

#StartinLatvia opens new interactive fountain, hopes to turnover over EUR 1 billion and more.

Unique interactive fountain Moses opens in Riga

On Wednesday, June 8, Riga Vice-Mayor Andris Ameriks, ABLV Charitable Foundation Board Chairwoman Zanda Zilgalve and new technology developers Kristaps Banga and Mārtiņš Dāboliņš, accompanied by a hundred children, opened the unique interactive fountain Moses in Kronvalda Park.

Any person can become the “conductor” of the fountain, motioning water spouts to rise and fall without ever touching the water.

Now any passerby can give it a try, at any hour of the day or night. The interactive solution will be available to the public every fountain season, which in Riga usually lasts from May to the beginning of November.

New technology created in Latvia rated as a TOP 10 innovation in construction

At the Danish accelerator forum Sustainable Build, the new technology created by Latvian company ALINA was rated as one of the top ten sustainable innovations in the construction sector.

The competition evaluated 57 innovative technologies and products, with the ten most prospective selected to participate in the accelerator forum in Copenhagen, where they received consultations from industry experts and gained new business contacts with the aim of speeding-up the implementation of their innovations in the construction sector.

ALINA is a Latvian company established in 2015, which aims at introducing and commercializing on the global market a new clay processing technology for construction. As a result of the new technology, clay is enriched with organic substances, which gives the material additional qualities and functionality.

Ambitions of Mintos will not stop at EUR one billion

In its first year-and-a-half of activity, investors have invested over EUR 33 million in loans on the Mintos platform.  However, this is still less than the Estonian Bondora platform, which has attracted EUR 58 million in investments, however, the Latvian platform has been performing better than its Estonian colleagues in recent months.

“We do not have a certain number in mind which we intend to achieve and then pat ourselves on the back and say – that is enough. Our ambitions are to continue growing in Europe and then expand globally. And this is certainly more than EUR  100 million of even a billion," the co-founder of Mintos Mārtiņš Šulte explains.

TechChill startup conference partners with Positivus Festival

TechChill, the main annual startup and technology conference in Latvia which happens every February, is announcing a partnership with the legendary Positivus Festival, the largest music festival in the Baltic States.

The TechChill team will hold a summer session during the festival, inviting participants to chill-out and be inspired at the bright blue TechChill Summer Hub, combining music, art and technological experience all at once.

The Hub will showcase the coolest technology startups from the Baltics, host a discussion panel and keynote speeches from startup thinkers, hold a pitching school and Idea Pitch Battle.