On 19 September 2024, Latvijas Banka announced the return of the Latvian FinTech Forum, scheduled for 5 November 2024, at the Small Guild in Riga. This event will convene key players from the FinTech ecosystem to discuss current industry issues and trends. Notably, the forum will feature the “Fintech Factor 2024” competition, organised by the international accelerator Tenity in collaboration with Latvijas Banka and the Fintech Latvia Association. Early-stage FinTech companies across Europe are invited to participate, with an attractive prize fund aimed at promoting their growth and providing networking opportunities.
Early-stage FinTech companies from across Europe are invited to participate in the “Fintech Factor 2024” competition. The prize fund is designed to foster the growth of participating companies and includes ten hours of legal advice from esteemed firms Sorainen and Wallace, ten hours of growth mentoring from Tenity, a cash prize of 2,500 euros, as well as tickets to prominent events such as Latitude59, sTARTUpDay, Helsinki Fintech Farm, and Fintech Day 2024. Participants will have the opportunity to secure investment of up to 150,000 euros from LatBAN and Tenity.
Santa Purgaile, Deputy President of Latvijas Banka, in his statement highlighted the significance of this initiative, stating, “The Bank of Latvia offers diverse support initiatives to promote the development of a modern and innovative financial sector. One of the initiatives is the annual FinTech forum, which this year will offer visitors discussions on the most current industry topics such as artificial intelligence, crypto-assets and also to regulatory requirements in the field of current trends. The “Fintech Factor” competition organised during the forum is a valuable opportunity for FinTech companies to present their business model to investors, potential customers and partners.”
Tīna Lūse, head of the Fintech Latvia Association, extended an invitation to participants. She noted, “Join the “Fintech Factor” competition in Latvia and discover our dynamic local ecosystem and supportive regulator. Many companies that started operations in Latvia and have successfully expanded their operations in the European Union and beyond praise the Bank of Latvia’s business-oriented and flexible approach. We believe that the next unicorn or market challenger could be among the participants of this year’s competition. We will be happy if you decide to start your business growth in Riga.”
Interested parties may apply for the competition until 30 September 2024, by completing the application form available on the FinTech competition website. From the pool of applicants, Tenity will select eight start-ups to present their business ideas on stage during the Latvian FinTech Forum. This event will attract key stakeholders in the Baltic financial technology ecosystem, including representatives from FinTech companies, financial institutions, investors, and policymakers.
The competition serves as an excellent opportunity for start-ups to receive guidance on their business development trajectories, both within Latvia and on a broader scale. The finalists will also partake in a community day, to enhance their understanding of fundraising strategies, ranging from effective self-presentation to engaging with early-stage investors. This community day aims at facilitating networking, building relationships, and refining operational strategies within Riga’s dynamic FinTech ecosystem.
Uve Poms, a representative from Tenity, stated: “It takes a village to create a startup, and that’s why we organise a community day before the FinTech Forum. We help company founders meet experts and investors in Latvia, thus developing new competencies and helping to discover new customers and capital raising opportunities.”
The “Latvian FinTech Forum 2024” is being organised by Latvijas Banka in partnership with the Riga Investment and Tourism Agency. This forum will convene a diverse array of stakeholders from the FinTech sector, including founders, industry representatives, investors, and policymakers, from Latvia, neighboring Baltic countries, and across Europe. Attendees can expect a series of discussions addressing the most relevant topics in the FinTech domain, as well as the opportunity to participate in the competition for start-ups.
For further details regarding the forum program and registration, interested parties are encouraged to visit the official website at fintechforum.lv.
(Source: https://fintechlatvia.eu/lv/jaunumi/inovativi-jaunuznemumi-aicinati-pieteikties-konkursam-fintech-factor/, https://airtable.com/app1NHsQTjTUE18Qo/pagxzghijWqDFamzY/form, https://fintechforum.lv/)
