Top 40 entries for the Latitude59 Pitch Competition picked
This year's Latitude59 Pitch Competition breaks the previous record by attracting over 500 applications, with AI and deep science in focus this year.
As the largest competition of its kind in the Nordics and Baltics, Latitude 59 Pitch Competition brings together startups worldwide and Estonian investors offering up to €1 million in 2024.
A total of 526 applications from 53 countries were submitted for an increase of almost a hundred since last year. Startups will compete for an investment of up to one million euros and the top 40 have now been selected. According to investors, the filter to enter the top 40 was particularly tight this year and 80 percent of all the participating companies could boldly raise investments right away.
"There is no reason to believe that no future unicorns participated in this year's competition. As a result, the final decision will be difficult and several winners cannot be ruled out," explained Riivo Anton from Specialist VC.
The final selection includes many health and deep tech companies, but industry-wise, AI is still booming, the organizers said in a press release.
AI's strong presence was expected by investors, but they were also pleased to witness that deep science offers serious competition. "It is natural that the development and application of artificial intelligence is seen as a great business opportunity. But there were also impactful startups from the field of deep science-intensive and health technologies such as biotechnologies and medicine. Developers of innovative energy solutions and products and services that support energy saving and the green revolution in general were also pleasant to see," explained Heidi Kakko, one of EstBAN's lead investors.
The week of online pre-finals for the L59 Pitch Competition will take off at 2 p.m. on April 29. By the end of the week, just ten founders will remain standing, and only five will get a chance to pitch one more time for €1M – at the finals, on May 24 at the Tallinn Creative Hub (Kultuurikatel), during the closing ceremony of Latitude59 2024.
Latitude59 2024 will take place May 22-24 at the Tallinn Creative Hub. This year, nearly 3,000 participants, including 800 startup representatives and 500 investors from around the world, are expected to attend the event.
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Editor: Marcus Turovski
