40 Startups With The Highest Potential Will Compete For EUR 100,000 Investment in The “Startup Fair Pitch Battle”
On June 3-4, during the international startup competition “Startup Fair Pitch Battle”, Lithuania will become not only the main venue for startups but also a place for the meeting of investors from 8 countries, new partnerships, and renewing ties. The event “Startup Fair. Recharge 2021” will see the participation of 40 startups, which passed the first selection, representing 17 countries and investors who will be keen to look at investment opportunities.
The range of applicants who want to win the “Startup Fair Pitch Battle” competition is wide and competitive, ranging from innovative solutions for the medical and food industry to smart solutions for education and marketing. Of the 111 applications submitted, the jury selected the 40 most innovative and interesting business ideas. According to the jury, they have the greatest potential to grow into thriving businesses that would have success on a global scale. Organisers of the event rejoice that every year they receive an increasing number of start-up applications.
“By arranging the 9th international startup event the “Startup Fair”, we see an increasing interest and willingness of Lithuanian and foreign startups to participate in the “Startup Fair Pitch Battle”. We are delighted that we were not hindered by the difficulties we experienced this year and the lockdown – we have received numerous applications from startups from Lithuania and foreign countries who want to present their innovative ideas and businesses during the event. The startups selected by the jury will present themselves during the event and compete for an investment of EUR 100,000, which is planned to be invested by the “Lithuanian Business Angel Network (LitBAN)” and “CoInvest Capital” and other partners’ prizes,” points out Roberta Rudokienė, the Head of the startup ecosystem development unit “Startup Lithuania” of the Public Institution “Enterprise Lithuania”.
Startups from 17 countries – Lithuania, the United States, Singapore, the United Kingdom, Portugal, France, Poland, Latvia, Estonia, the Czech Republic, Armenia, Belarus, Nigeria, Pakistan, Iran, Belarus, and Greece – expressed their wish to test their success and willingness to participate in the “Startup Fair Pitch Battle”.
The jury of the competition assessed the business ideas of startups, solving the problems of how their solutions and innovative ideas meet current market needs, business models, and team composition. They assessed which startups were most noteworthy and which would be able to enter the next and crucial phase of the competition – the ability to present their idea of innovative business before the audience of the event, the jury, and possibly even get an investment.
Startups competing in the semi-finals of the Startup Fair Pitch Battle will have 3 minutes, in the presentation battle, to present their innovative product or service. After this battle, the jury will select the best who will be given the right to compete in the final on the second day of the event.
All presentations of start-ups will take place live or remotely, during live broadcasts, on the first day of the event. The event will have its final battle on the second day, with 10 startups competing vigorously. Presentations of innovative businesses can be watched by anyone who wants, not only attending in person but also online, in the special platform of the event – “Talque” and the event’s Facebook page “Startup Fair”.
The contest participants will have the opportunity to present their innovative businesses to the spectators of the event as well as the international panel of experts and win the major investment established by “Lithuanian Business Angels Network (LitBAN)” together with “CoInvest Capital”. Also, the cash prizes for legal services were set up by the law firm “Triniti Jurex”, which specialises in business law, and “Cloudvisor”, an official partner of AWS (Amazon Web Services), will give three startups in the competition free credits for cloud computing services, each worth USD 5,000.
At the “Startup Fair. Recharge 2021” startups will also be able to register for face-to-face meetings with Lithuanian and foreign investors. Every year, more and more startups are testing this opportunity, and this year developers of innovative businesses will again have the opportunity to test their negotiating abilities during the event. It will be very simple to attend meetings between startups and investors. Startups who want to meet investors must first register for the event and, after receiving a special invitation to join the “Talque” platform, invite investors to meet and reserve their time. Innovative businesses interested in meeting investors can register for meetings now.
The innovative business competition “Pitch Battle” is part of Startup Fair: Recharge 2021, the largest startup event in the Baltic States, organised for 9 years in a row in Lithuania by “Startup Lithuania”, a facilitator of the development of the startup ecosystem of “Enterprise Lithuania”. Due to the global COVID-19 pandemic, this year the two-day event will take place on 3-4 June and, if circumstances permit, will be organised in a hybrid format, when a limited number of participants will have the opportunity to attend the event live in the outdoor spaces of Vilnius Tech Park and the entire event will be broadcast free of charge online, on the special platform of the event and the event’s Facebook account Startup Fair. You can find more information about “Startup Fair: Recharge 2021” and the event program at www.startupfair.lt
“Startup Fair: Recharge 2021”, an international and one of the most important startup events in Lithuania, which will take place for the 9th year in a row, announces that the major recharge of the startup ecosystem will take place in Vilnius on 3-4 June, when the networking will be relaunched after a long-time gap, and when the flow of investments to the most promising startups will be increased by another financial “recharge” amounting to EUR 100 000. Registration for the “Startup Fair Pitch Battle” competition for innovative businesses in Lithuania and abroad is NOW OPEN.
The question when the first unicorn with over 1 billion of US dollars in value will appear in the country raises speculations for some time in Lithuanian start-up ecosystem. And even though there are many, not the one, candidates in Lithuanian system of innovative business, an example of a successful start-up, as noted by Anders Lentell, one of the speakers at the event “Startup Fair”, Swedish investor and founder of technology start-up DynaByte, is not just a unicorn label.