Latvian company makes latter stages of 'Entrepreneurship World Cup'

Latvian company HyMet.eu has placed in the TOP25 at the Entrepreneurship World Cup and is still in the running for the grand prize worth half a million US dollars, according to a press release from Swedbank.

In order to be shortlisted in the top 25 global entrepreneurs, HyMet.eu had to win the national finals first, then successfully present its business idea within an accelerator and place in the TOP100 list. The company has now also placed among the 25 companies which will have the opportunity to present their business idea at the grand finale in Riyadh, Saudi Arabia this December. On its way to the finals HyMet.eu has had to withstand competition by 100,000 start-ups from 200 countries around the world.

 HyMet.eu develops composite material production technologies for cooling high-power electronics, such as electric vehicles, computers and telecommunication equipment. HyMet.eu aims to improve the reliability, performance and lifespan of electronics, while reducing energy consumption, production costs and the amount of e-waste that ends up in landfill.

Nikolas Trutiak, CEO at HyMet.eu said: "The Entrepreneurship World Cup has been an exciting journey so far and we have met many great people and businesses along the way. We are happy to be accepted to the finals of the 2021 Entrepreneurship World Cup, which means we will be going to Saudi Arabia to pitch for the USD 500,000 prize! Our team is working hard to prepare for this event. We were also invited to the Hello Tomorrow Global Summit in Paris, as "Deep Tech Pioneers", so December will be filled with several great events. HyMet.eu will do its best to represent Latvia at these international events.”

In Riyadh the finalists will be assessed by an international jury consisting of international entrepreneurs from countries such as Egypt, Switzerland, the USA, India and Mexico. Companies ranked among the TOP25 represent Australia, Nigeria, Canada, the UK, Thailand, China, Finland and other countries.

The grand prize for the first place winner is USD 500,000, with USD 250,000 for second place and USD 100,000 for third place.

The national finals of the Entrepreneurship World Cup were organized by Swedbank in collaboration with the Latvian Chamber of Commerce and Industry, the Latvian Investment and Development Agency, TechChill and the Social Entrepreneurship Association of Latvia, who were also the members of the jury.

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