Who said that the next Google or Facebook could not be a startup from Latvia? Definitely not us here at StartupLatvia! We know that Latvia and Baltic States can produce world-class IT and tech companies and are growing in numbers with software & hardware engineers as well driven technology and startup experts. Yes, there is still a lack of capital and entrepreneurial spirit but as the number of successful startups grow we are slowly becoming a hot destination for VCs. The regional market of startups is yet to be tapped. StartupLatvia is sure there is no lack of capital if you have a great idea, validated business model and core team to execute it!
StartupLatvia is an independent organization comprised of a number of experienced business leaders in Latvia, Europe and Silicon Valley. We are committed to promoting the technology and capital connection between Latvia and Silicon Valley, and helping Latvian startups to reach their ultimate business goals. In order to accelerate Latvian companies in global business we selected 6 most disruptive Latvian IT and tech startups and brought them over to high-tech startup heaven – Silicon Valley. These were the selected companies:
- Jana Seta Map Publishers – Maps&IT solutions
- Booking Group – Worldwide Car Rental Service
- Intelligence Media Group – Innovative Web Technology development
- Molips – IT, web development, programming
- Informatics – Software development
- TestDevLab – Quality Assurance and Software Development
Entrepreneurs spent two amazing weeks in Silicon Valley pitching to angel investors, industry experts, potential partners, meeting other startups and learning to do business Silicon Valley style. The aim of this study tour was to bring entrepreneurs up to date with current trends in global economy and technology and to explore partnership opportunities in US market. This was just the first step towards more permanent Latvian expansion of the business to US.
Within these 2 weeks startups met with a number of business incubators and accelerators such as Rocket Space, US MAC, NestGSV and Plug and Play Tech Center to learn about programs and services offered. Some of the companies are already considering joining these incubators as a next step of their business development. We also had a crush course in startup business model development, Lean Startup and secrets of pitching with You Noodle and Startup Experience. A chance to work hand-in-hand with American entreprenurs during Startup Weekend Transmedia, meet some of biggest stars in startup scene at Startup Grind and explore offices of most exciting companies in the Valley, such as Google, Skype, Nokia & others.
The program resulted in the Grand Finale which was the review panel of industry experts kindly organised and hosted by US MAC. Experts provided Latvian startups with feedback on their pitches, business models and concepts and gave homework which should be done before they can make the next steps towards developing their businesses in US.
As a result of StartupLatvia study tour our startups pursued their interests and some of them earned a further attention from angel investors and potential partners.
List of companies, full agenda and photos of the visit here: http://startuplatvia.eu/