Five Latvian companies for the Entrepreneurship World Cup

The Latvian jury for the Entrepreneurship World Cup (EWC) has shortlisted the five most promising companies for the national finals, reports the Latvian Investment and Deveopent Agency (LIAA).

The winner of the Latvian national finals will then compete for the chance to be among the top 100 companies from around the globe at the global finals in Riyadh, Saudi Arabia and a prize pool of 1 million US dollars, as well as additional investment opportunities and support for global growth.

The companies that applied to participate in the Entrepreneurship World Cup this year represent a wide range of business sectors, from food production to mobility solutions, financial services and environmental innovation. Among the applications received, several were also social enterprises, with a particular focus on technology solutions in the medical sector.

The applications submitted were carefully evaluated by the jury representatives from Swedbank, the Latvian Chamber of Commerce and Industry, Latvian Investment and Development Agency and Latvian start-ups association Startin.LV, assessing each company according to four criteria – product, its potential, business model predictability and team.

Five Latvian companies that will compete in the Latvian national finals

Spirulina Nord – the only company in Northern Europe that grows the highest quality spirulina and creates unique products from it. The company is based on a unique technology developed by two Latvian scientists for the cultivation of these tropical microalgae.

BirgerMind – the company was created with the ambition to help patients with amyotrophic lateral sclerosis (ALS) and motor neurone disease (MND) regain the ability to communicate independently by using a flexible headband with built-in sensors to read brain activity.

PurOceans – the company offers a solution for the gentle removal of oil sludge, microplastics, chemicals and other contaminants from the bottom of seas, rivers and lakes.

Medon – a digital clinic providing access to European doctors around the world, offering remote online consultations with doctors and specialists.

PrintyMed – manufacturers of the unique biomaterial artificial spider silk for medical applications, including the development of artificial organ production technology from artificial spider silk and licensing to medical technology companies.

Viewer’s favourite vote

From March 4, everyone is welcome to vote for the most successful business idea on which will determine the viewer’s favourite receiving a special viewer’s favourite award in the finals. The national finals are scheduled to take place on 3 April, at 14:00 and will be streamed to Swedbank Latvia Facebook channel.

The winner of the Latvian national finals will compete to be among the top 100 companies and to reach the global finals in Riyadh, Saudi Arabia at the end of this year.

Since 2019, the Entrepreneurship World Cup (EWC) has grown into one of the largest and most diverse competitions and support programmes of its kind for start-ups, with more than 370,000 entrepreneurs from over 200 countries participating, while offering an impressive prize pool for the winners.

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