on October 26th, 2022
Applications are still being accepted for masterclasses and investment sessions on investment attraction for startups
The Investment and Development Agency of Latvia (LIAA) in cooperation with “Latvian Business Angels Network" (LatBAN) opens applications for the second cycle of innovative master classes and investment sessions. Their goal is to help start-ups attract funding and the attention of venture capital funds, thereby contributing to a modern and innovative national economy. The next master class will be held on October 31, 2022, from 15:00 - 17:00 and it will be complemented by an investment session (IS) - on November 4, at 15:00. The venue for both events is LIAA main building, Perses street 2, Riga.
16 projects applied for the first cycle of master classes and investment sessions, and the 9 most promising were invited to participate in the program. A total of 14 investors evaluated startup pitches during the investment sessions. Masterclasses and investment sessions are held regularly, but in order to attend them, you need to fill out the application form or register in the LatBAN Dealum profile directly. The second cycle will start on October 31, but the applications are always open because if you do not get into this cycle, there is still a chance to get to the next one, which will start on November 14.
The task of the master classes is to prepare young entrepreneurs for negotiations with investors of various levels - venture capital and business angels, in order to gain knowledge in presenting the startup's business concept and attracting investments. That is an essential stepping stone for starting a business when at the initial stage of a project there is only an idea, a core team, and the first prototype.
LIAA, in cooperation with LatBAN, invites all innovative and ambitious entrepreneurs to apply for the "startup" growth master class and investment session, which will be led by the experienced entrepreneur and investor Voldemārs Brēdiķis on October 31. All companies that apply will be evaluated, but the most promising will receive an invitation to a master class and an investment session, during which they will be able to represent their project. Each cycle's masterclass and session are interconnected events, so invited entrepreneurs should attend them together to get the best experience and opportunities.
The aim of the masterclasses is to give basic knowledge and feedback to startup founders so that they are ready to present their elevator pitch at any time and place, are clearly aware of their strengths and weaknesses at the given stage of development of the project, and can receive unique business advice from a real, practicing investor. Furthermore, after each master class, an IS and networking evening is planned. During the IS, each entrepreneur is given 5 minutes to present their business, after which the investors ask questions for 5-10 minutes and at the end of the pitch presentations there is networking. The most promising projects that have registered either in the LIAA questionnaire or at the LatBAN Dealum app directly and that have been evaluated and selected by the jury of LatBAN investors are invited to the events.
The first master class and IS resulted in very promising cooperation projects, and the acceptance and review of new applications are still ongoing in order to find Latvia's hidden startup pearls. The organizers are convinced that these events are an excellent opportunity for startups to get support and knowledge from experienced investors, such as LatBAN chairman of the board Cyril Golub and serial entrepreneur, investor, and startup mentor - Voldemārs Brēdiķs.
All master classes and investment sessions will be held in English. Every ambitious, purposive entrepreneur and innovator is welcome to join. Investors are looking for startups with a thought-out business and financial plan, an understanding of his/her customers and the market to be reached, and preferably at least a demo version of the prototype or understanding of its creation. You can apply both by filling out the application form (here) and by registering in the LatBAN Dealum profile (here), which is one of the most popular portfolio platforms for investors and startups in Europe. Sessions and master classes will take place from October 18 to December 15, 2022. In case of questions, write to the event coordinator and LatBAN executive director Kristīne Tarvida: tarvida.kristine@latban.lv.
The planned dates for master classes and investment sessions (IS):
- The first master class was held on October 18, and the supplementary IS on October 21;
- The second master class will be held on October 31, and the supplementary IS on November 4;
- The third master class will be held on November 14, and the supplementary IS on November 22;
- The fourth master class will be held on November 28, and the supplementary IS on December 8;
- The fifth master class will be held on December 12, and the supplementary IS on December 15.
The project is financed by ERDF (European Regional Development Fund) support and LIAA operating program "Growth and employment" 1.2.1. of the specific support objective "Increase private sector investments in R&D" 1.2.1.2. within the framework of the "Support for the improvement of the technology transfer system" project "Technology transfer program" (project identification no. 1.2.1.2/16/I/001).
