A few weeks ago LSM told you about an innovative railroad startup project linking Belarus and Latvia. As planned, on Friday, August 31, the "Minsk-Riga Startup Train" Grand Finale took place at the Overkill Ventures accelerator.
Each of the 10 teams presented their project which they developed during the hackathon while crossing the border between of Belarus and Latvia. The jury, composed of both startup professionals and investors, evaluated the ideas and announced the winner - a team called "ARrow" which came up with a way product ideas can be converted into a digital prototype sketch, allowing developers and designers to immediately evaluate, present and refine their product.
The team won tickets to the “TechChill” startup conference, which will take place in Riga on February 21 and 22. Additional knowledge will be gained while visiting the conference in Minsk - "Venture Day Minsk". In order to successfully develop the idea, the team received a month-long subscription to the co-working place "People Work" in Riga.
Second place was won by a team called "LoVAT", having switched from the slightly less trendy-sounding "VAT Compliance". LoVAT” wants to save the worries of entrepreneurs by offering a digital platform where VAT payer status can be declared regardless of the country where business might be located.
Third place was claimed by the team “OpenBusiness” which developed a digital platform for retailers and banks for collecting and analyzing statistics.
Each team had 7 minutes to show their project - a three-minute presentation, 2 minutes for demonstration, as well as 2 minutes to answer the jury's questions.
"Hopefully, the participants of the hackathon will continue to work and develop their ideas further. The projects presented are very interesting and we believe that in the future these ideas could grow into potential startups recognized around the world. We are open to innovative solutions and providing the support to startup builders. We hope that this event will be the start for their professional development that will lead to new goals,” said Magnetic Latvia Startup representative and “Startup Train” organizer Olga Barreto-Goncalves.