Application for the investment session is open until October 10. The pitches will take place in person on October 15 at 18:00, on the premises of Riga Business School. The most promising startups of the given month will be selected for participation in the investment session. Foreign startups from Lithuania, Estonia, and elsewhere are also invited to apply.
To apply, you must fill in the application form on the Dealum platform HERE. After that, the LatBAN representative will contact the applicants to agree on the next steps. Participating in the investment session in person must comply with the epidemiological requirements set by the country.
We plan that Estonian and Lithuanian business angels will also join Live investment pitches.
Every month, LatBAN organizes closed investment sessions, bringing together young, promising entrepreneurs and business angels. Before each session, all submitted projects are selected and evaluated, but the 5 or 6 strongest candidates are invited to the pitch. If there are more strong candidates, the number of presentations may be increased or they will be invited to attend the next session.
Investment session plan
The startup has 5 minutes to present the idea and 5 minutes for Q&A. Afterwards investors are also happy to talk more 1:1 to the founders and get to know better the people behind ideas and ask additional questions. The decision on further negotiations is announced later after investors have had time to reflect. All startups are given tips and feedback that are most worth paying attention to in further development.
About the September investment session
In September, within Startup Day 2021, 5 projects presented their business ideas in the Tech Hub premises:
- Edy365 - a platform where entrepreneurs meet their future employees and students find their praxis place and future job. The startup helps employers find the best of the best interns and also receives funding.
- SpirulinaNord - RTU university scientist teams made a startup that grows fresh and sustainable spirulina that is an algae high in nutritious value. Often consumed by vegetarians, vegans, and the food industry.
- NO-CV - an innovative employment app for employers and job seekers from blue-collar jobs (construction, industry, food production, etc.). The app facilitates finding the ideal candidate via algorithm. HR usually receives 100 to 400 applications per position, and the solution aims to optimize this workload.
- TerraWaste - a technology that will help recycle otherwise unrecyclable waste (plastics, organic waste, etc.) using hydrothermal liquefaction processes.
- Vecticum - a tool that helps businesses save time on day-to-day tasks, starting from HR to financial flow management. The main benefits are process optimization and the provision of cloud services.
Currently, investors are continuing conversations with the Lithuanian startup NO-CV, as LatBAN members recognize it as very promising. Previously, in January 2021 already one of LatBAN's members-investors - Līga Treiliha, did already invest in the startup. So far it has also attracted funding from the Lithuanian accelerator for B2B startups - 70V (70 Ventures). Another notable fact is that the startup was created only in November 2020 by Gediminas Vilčiauskas and already has 30+ thousand users and 200 companies (clients) in Lithuania.
Investors wish other idea authors to not give up and continue working on their idea development and return to negotiations later when new stages of development have been reached.