Latitude59 Pitch Competition Tops €400,000 Prize Fund

In Short

• Latitude59 says its pitch competition prize fund has grown to more than €400,000.
• Organisers say 53 countries are represented this year, including 70 African startup applications.
• 15 teams will be selected for semi-finals, and winners will be announced on 22 May in Tallinn.

What Happened

Latitude59 has increased the prize fund for its annual pitch competition to more than €400,000. The organisers say the competition has attracted teams from five continents and 53 countries.

Latitude59 CEO Liisi Org said the event’s international reach has expanded over time, and that investors will carefully assess candidates before they pitch on the main stage. The grand prize pool is up by €100,000 compared to the previous level.

The prize fund is being backed by several investor groups. The Estonian Business Angels Network, EstBAN, will contribute up to €200,000, and the Latvian Business Angels Network, LatBAN, will add up to €100,000. The Finnish Business Angels Network, FiBAN, is also joining, and FIRSTPICK VC plans to invest up to €100,000.

Latitude59’s Head of Startup and Investor Relations, Krista Meinarde, said this is the most geographically diverse applicant pool in the event’s history. She also said African interest has grown, with 70 African startups applying, which is more than double last year.

Why It Matters

For African founders, a larger prize fund can mean more non-dilutive capital, or early investment, without giving up as much ownership. It also signals that European angel networks and VCs are still allocating capital to early-stage deals.

The semi-finalists will receive training and mentoring, which is structured support to improve pitch and fundraising readiness. With finals set for 22 May, shortlisted African teams could use the platform to build investor relationships beyond the cash prize.