Five Latvian companies to compete in the Entrepreneurship World Cup national finals

With the deadline for applications for the Entrepreneurship World Cup (EWC) now closed, the jury has shortlisted the five most promising companies for the Latvian national finals where the entrepreneurs will present their business ideas to the jury members. The winner of the Latvian national finals will then compete for the chance to be among the top 100 companies from around the globe having a ticket to the global finals in Riyadh, Saudi Arabia and the 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, 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.

"More and more often, we in Latvia can be proud of competitive companies whose unique ideas not only develop our business landscape, but also offer innovative solutions to global problems and strengthen our position in the international arena. In this year's Latvian national finals, we again see passionate entrepreneurs whose business ideas can reach unprecedented heights, and the Entrepreneurship World Cup is a great platform for companies to showcase their potential and gain global recognition. In order to effectively prepare for the national finals, we provide all finalists with free 'elevator pitch' training and valuable tips for presenting their business idea, which is an essential step for their ideas to reach potential investors and partners around the world both within and beyond this competition," says Jevgenijs Ivanovs, Swedbank Board Member and Head of Corporate Customer Division.

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 in northern climate 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 4 March, everyone is welcome to vote for the most successful business idea on blog.swedbank.lv 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.

About the Entrepreneurship World Cup

Swedbank has been the Latvian representative of the Global Entrepreneurship Network  since October 2020, which comes with the unique right to also organize the Entrepreneurship World Cup (EWC) finals in Latvia for a third time. 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.