TALLINN, Estonia (CHATNEWSTV) — Close to 400 startups from 47 countries have applied to compete for a €500,000 grand prize at this year’s Latitude59 tech conference, Estonia’s premier startup and innovation event.
In a statement on Wednesday, Organizers said 391 applications were received for the competition, which kicks off in May in Tallinn, with entries spanning continents—from South America and Africa to Ukraine and across the Nordics and Baltics.
“While the number of applications is slightly down from last year, the quality is outstanding,” said Liisi Org, CEO of Latitude59. “Both Baltic and European data show fewer new startups, but the ambition level remains high. Investors are eager to support promising teams, and that opens up fantastic growth potential.”
The top prize is a syndicated investment of up to €500,000, backed by the Estonian, Latvian, and Lithuanian business angel networks—EstBAN, LatBAN, and LitBAN. The angel groups jointly reviewed and selected the top 32 applicants for the pre-finals round.
“With over 300 applications, the evaluation process was no small task,” said Roberta Rudokienė, managing director of LitBAN. “That’s why the three Baltic networks joined forces. The collaboration helped us dig deep and assess every startup thoroughly. It was a true regional effort.”
The 32 selected teams will now receive mentorship and training before pitching to secure one of five finalist spots. Those finalists will present live on the main stage on May 23 at Tallinn’s Kultuurikatel.
Emils Kragis, managing director of LatBAN, praised the global vision of Baltic founders: “The international reach and diversity of industries in the top 32—ranging from defense and AI to fintech and HR—shows the Baltics are thinking big from day one.”
Karin Künnapas, EstBAN’s managing director, said the unified evaluation process also highlighted common values among regional investors. “The top teams were a consensus across the networks, which shows that Baltic angels are aligned on what makes a strong early-stage startup,” she said.
Triin Ilves, head of startup relations at Latitude59, noted a surge in creative, AI-based, and deep tech solutions among the entries. “These emerging verticals are gaining real momentum in the Baltics,” she said.
Now in its 13th year, Latitude59 will run from May 21–23. Last year’s conference drew over 3,500 attendees from 65 countries, including more than 900 founders and 700 investors. Nearly half of the 195 speakers were women.
Editor: Gabriel Ani
