TechChill’s Fifty Founders Battle is an annual event that offers early-stage startups the chance to pitch their business ideas on stage in front of over 200 investors and attendees from across the world. Over the years, the event has provided a launchpad for several major Baltic startups.
With the application process for the Fifty Founders Battle 2023 drawing to a close (March 10), it’s worth reflecting on the accomplishments of past winners and how the event has served as a significant milestone in their success stories.
7.5M EUR within 2 years
If anything, our statistics show that winning the Fifty Founders Battle is a springboard for further funding.
Take a look:
– 73% of the winners have gone on to raise VC funding
– 10.6M EUR – the amount of funding the winners have collectively raised over the years
– 7.5M EUR – the amount of that funding that has been raised within two years of winning the Fifty Founders Battle
– 2 exits – two startups, Infogram and Nordigen, have even already secured exits.
Together, the investments attracted by these winners total 10.6 million euros, including noteworthy funding accomplishments such as Woola’s 2.5 million euro seed round led by Future Ventures and Nordigen’s 2.1 million euro feat. It’s evident that the Fifty Founders Battle is a platform that showcases exceptional ideas, which are eagerly embraced by investors.
Infogram – acquired by Prezi
Infogram is a web-based platform for creating and sharing digital charts, infographics, and maps, offering an intuitive editor that converts users’ data into engaging visuals that can be published, embedded, or shared.
After winning the TechChill Founders Battle competition in 2012, they experienced substantial growth, leading to their acceptance into the Startup Sauna acceleration program. Eventually, in 2017, they were acquired by the Hungarian presentation software company, Prezi.
✨4 million users across the world.
✨1.5 billion unique views generated by charts, reports, and infographics.
✨A preferred solution for industry leaders including Warner Music Group, TechCrunch, and Cato Institute.
Tebo – used by more than 70,000 students
Tebo is a teacher’s tool that facilitates the organization of digital teaching materials, such as files, links, and exercises, in a single location. It also permits the development of interactive and captivating learning materials that students can access and solve using their smart devices. Moreover, users can explore and derive ideas from other teachers’ content collections, share their content with other teachers, and gain followers.
Following their victory in the Founders Battle in 2013, Tebo improved their tool and expanded their user base.
✨3,589 schools use the platform today.
✨71,090 students can enjoy well-organized digital teaching materials.
Edurio – used by 1500 schools
Edurio is a company that creates research-driven survey tools and a distinctive platform for data visualization and analysis that caters to schools, trusts, and international school groups. Following their victory in the Founders Battle competition in 2015, they have emerged as one of the leading players in the industry, providing valuable insights to stakeholders that help improve the quality of education.
✨1500 schools using the Edurio platform.
✨70,000 pupils surveyed in 2022 as part of England’s largest review of children’s safety.
Nordigen – acquired by GoCardless
Nordigen is a company that provides account data analytics solutions. They have developed Europe’s first free PSD2 data API and various data enrichment products. Since winning the Founders Battle in 2016, Nordigen has experienced rapid growth, securing an investment from Change Ventures the following year.
Nordigen was acquired by GoCardless in 2022. They now have a team of 50 employees and remain committed to their mission of helping businesses worldwide adopt and utilize open banking.
✨2,300 banks supported across Europe.
✨31 countries supported.
✨2.1 million dollars raised in a funding round in 2021.
Anatomy Next – reorganization and new horizons
After winning the 2018 Founders Battle, the startup underwent a reorganization. It launched Anatomy.app, an online digital training platform for medical students and educational institutions focusing on anatomy education.
The startup’s virtual reality component became Exonicus. Exonicus has created a suite of 3D immersive medical simulation software products that are designed to train medical personnel in multiple virtual reality environments. These products are intended for use in both military and civilian hospitals.
✨1,200,000 Anatomy Next encyclopedia users.
✨Virtual Reality Trauma Simulator Exonicus’ flagship product – used by the United States Department of Defense.
Precision Navigation Systems – new innovative products
The company develops hardware and software solutions that assist companies and governments in constructing sustainable ground-based GNSS infrastructure for land-surveying, precision agriculture, mining, construction, autonomous vehicles, and drones.
Following their victory at the 2019 Founders Battle, they launched a new product in 2020 – Stargate RTK – which provides access to worldwide GPS RTK coverage through a single interface. This innovative product earned its first revenue in 2021. Today, the company offers several products.
✨HIVE a cloud marketplace for owners of ground-based Continuously Operating Reference Stations.
✨Pylon a cloud NTRIP caster.
✨Stargate RTK worldwide RTK coverage through a single interface.
Woola – on a roll with €2.5M in hand
Woola utilizes leftover wool to create sustainable packaging that is environmentally friendly. The aim is for these packages to be reused, repurposed, or returned by the consumer, with the ultimate goal of establishing a “closed-loop” system where no resources are wasted.
After winning the 2020 Founders Battle and securing a €2.5M seed round led by Future Ventures the following year, they now continue towards their objective of substituting plastic packaging with more environmentally sustainable alternatives.
✨Company with a mission to reduce the usage of fossil fuel-based bubble wrap by 50% worldwide by 2030.
✨Innovative products including the world’s first bubble wrap alternative made from upcycled wool.
Longenesis – extra funding and new products
Longenesis is a startup that provides platform for biomedical organizations to shorten the duration of clinical trials. The platform facilitates secure communication, allowing for the safe curation of data and the compliant use of biomedical data for research while ensuring that all necessary consent requirements are met.
Having won the 2021 Founders Battle, they secured €1 million in seed funding in the same year, and now have a range of core products available.
✨400,000 patients and study participants so far.
✨Representing Latvia at the World’s Entrepreneurship Cup in 2023.
Vocal Image – large app userbase and great reviews
Vocal Image is a mobile application that provides speech training and voice therapy for speakers and singers to improve their vocal confidence and appeal. The app utilizes AI and offers evaluation and rating features, plus extensive educational content such as training sessions, lectures, articles, short videos, and podcasts to enhance users’ knowledge of vocal techniques. Vocal Image also offers specialized programs, including speech recovery for individuals who have suffered a stroke.
Following their victory in the 2022 Founders Battle, they have significantly expanded their user base and enhanced their product.
✨500K+ app downloads on Google Play.
✨4.7 rating on the Apple App Store.
The Fifty Founders Battle: an opportunity for startups to gain funding and expand their network
While the format of The Fifty Founders Battle may have undergone changes over time, its fundamental objective has remained unchanged – to offer a platform for nascent startups. Since its inception in 2012, the event has brought together creative minds and shed light on some brilliant ideas.
The Fifty Founders Battle presents an exceptional opportunity for emerging startups to exhibit their abilities in a competition that provides the chance to obtain a monetary prize of 10,000 EUR, without any attached obligations. Furthermore, the victorious startups will also be able to secure up to 350,000 EUR in investment from BADideas.fund, DEPO Ventures, and Buildit. Plus, selected startups will be afforded the opportunity to present their enterprise to an international audience of investors who are actively seeking out the next groundbreaking idea.
We encourage all eligible startups to take advantage of this opportunity and submit their applications before the deadline on March 10, 2023.