Young entrepreneurs invited to apply for the national selection of the Creative Business Cup
This November, Copenhagen will once again host the international Creative Business Cup competition for young entrepreneurs, which every year brings together more than 70 participants from countries around the world. Representatives of Latvia’s IT and creative industries are also invited to apply for the competition’s national selection by 31 July by completing the electronic application form.
The aim of the annual competition is to support creative ideas, promote the development of innovation, and give young entrepreneurs the opportunity to meet investors, reach international markets, and attract funding for further business development. In August, the 20 best local participants will be invited to present their ideas in person at Latvia’s national selection. From all the applicants, the competition jury will select five of the most promising start-ups, which will participate in the national finals of the Creative Business Cup during the open-air creative festival iNovuss, which this year will take place in Riga, on Lucavsala, from 31 August to 2 September.
The winner of first place, who receives the jury’s greatest recognition, will be nominated for the international final in order to represent Latvia at the Creative Business Cup competition in Copenhagen, the capital of Denmark, in November. For young entrepreneurs, this will be an opportunity not only to present their idea and product to a wider audience and gain valuable contacts, but also to receive assistance and advice from experienced mentors, develop business skills, and attract investor funding, as well as compete for the main cash prize and the prestigious title of 2018 winner.
The international jury will select the winners based on two key criteria—first, the business idea developed by the company must be based on creative competencies, and innovation must be an integral component of the particular product or service. Second, the jury will also assess the start-up’s potential in an international context, as well as the size of the potential market for the business idea and its sustainability. It is important that this year, in addition to the national winner, the second- and third-place winners will also travel to the grand final of the international competition.
“I can confidently say that the Creative Business Cup competition is one of the best opportunities available to young entrepreneurs in Latvia, as it allows them to enter the international arena. The greatest value I have gained from participating in this project is confidence in myself and in my product’s potential. It has made me realise that the world is much larger than it may seem and that our opportunities are limitless. We are the only ones who set our own boundaries regarding how far we can go and what we can achieve. All that remains is to believe in yourself and apply, because all competition participants are already winners, regardless of the outcome,” comments Ilona Viļuma, founder of Gigi Bloks and 2014 international competition second-place winner.
The Creative Business Cup selection in Latvia is organised by the Creative Industries Incubator of the Investment and Development Agency of Latvia (LIAA) in cooperation with the “Young Entrepreneurs Centre ‘Jobs&Society’”. The competition partners are the Ministry of Culture of the Republic of Latvia, the Nordic Council of Ministers’ Office in Latvia, and the Danish Cultural Institute. To date, companies such as Vividly, Connection Codes, Drawies, GIGI Bloks, and Anatomy Next have participated in the project from Latvia. More than 5,000 companies from 70 countries around the world took part in last year’s international competition, representing creative fields such as music, games, architecture, fashion, technology, film, media, art, and others.
The online Creative Business Cup application form is available here: http://ej.uz/cbc_apply_2018.
Additional information about the competition is available on the LIAA website. If you have any questions, please contact Līva Stūrmane, the organiser of the national competition selection: liva@juc.lv, +371 29265627.
