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Jan
23
2017

The pulse of Latvian startup scene: Week #3

#StartinLatvia looking for investments in a fashion brand, invites businessmen to apply for StartUp Europe Awards and more.

Fashion brand Deeply Personal the favorite at LatBAN’s Investment Session

Six new projects had a chance to meet with Latvian business angels willing to support new business ideas at the January Investment Session of the Latvian Business Angel Network (LatBAN).

Projects eHarvest and My NutriPower attracted the greatest investor attention this month, but the Deeply Personal project, presented by Solveiga Grīsle, was the undisputed leader – 90 percent of investors said they were confident that the project’s team would successfully attract investments. The women’s fashion brand has already attained international acclaim and received its first orders from Asian and C.I.S. markets.

Government approves Statute of the Commission for Startup Activity Assessment

The government on January 17 endorsed the Cabinet of Ministers’ regulation ‘Statute of the Commission for Startup Activity Assessment’, drafted by the Economics Ministry.

The Commission for Startup Activity Assessment will decide whether a startup can participate in support programs available under the Law on Aid for Startups and receive aid, as well as assess whether venture capital investors meet the requirements on qualified venture capital investors. The commission will have to evaluate every startup’s application for support programs in one month after receiving the application.

10 TechChill Pitch Battle finalists selected

TechChill Pitch Battle jury has selected 10 startup teams who will take part at the Pitch Academy, competing for a fully-paid trip to Silicon Valley and other prizes. 4 teams from Latvia have got through to the final round, there also are 4 teams from Estonia, one from the United States and one from Finland. In total, 60 applications from 17 countries were received.

TechChill Pitch Battle finalists from Latvia include CEnOS Platform, WiDE-We Improve Device Experience, Vividly, and Finch.io.

On February 9, the finalists will participate in mentoring sessions at Pitch Academy to further improve their ideas, business strategies and presentation skills. The mentoring sessions are organized by region’s leading accelerators – Startup Wise Guys and Startup Sauna.

Latvian startups invited to apply for StartUp Europe Awards

Latvian startups have a unique opportunity to sign up their achievements in 2016 for the StartUp Europe Awards.

A national jury will assess the startups and select the winning entries in ten categories: Creative, Energy, Fintech, Green, Health, ICT, Smart Cities, Social, Tourism, and Water.

The awards ceremony in Latvia will take place during the TechChill Baltic startup conference on February 10. This will be followed by the Europe Forum in Brussels in mid-March, which will bring together the best startups in Europe.