A Brazilian legaltech startup won WebSummit’s PITCH startup competition, beating more than 100 rival startups from around the world.
Earlier this week, Web Summit announced that the 2023 edition of its flagship event in Lisbon welcomed 70,236 attendees from 153 countries, with 2,608 startups participating in the startup program, the highest number ever.
The event brought together thousands of attendees including CEOs, startups, investors, media, policymakers, and creatives, who participated in the various entrepreneurship activities scheduled: 1,180 meetings between investors and startups, 70 masterclasses, and 17 rounds of the PITCH competition, among others.
At the end of the competition, three finalist startups were presented to a jury and Inspira, a Brazilian startup that offers software solutions for the legal sector, was chosen as the winner by the members of the jury, which included Cristina Fonseca, managing partner of Indico Capital Partners, Rebecca Parsons, CTO of Thoughtworks, and Juan Pablo Ortega, co-founder, and CEO of Yuno — all heavyweights in the world of investment and startups.
Cognimate, a healthcare company from Cyprus, and Kinderpedia, a childcare solutions company based in Romania, were the other two finalists.
LegalTech, a growing industry
A recent report predicts that the global legaltech market size is to grow from USD 24.62 Billion in 2022 to USD 56.70 Billion by 2032, an impressive CAGR (Compound Annual Growth Rate) of 8.7% during the forecast period.
We can see this growth reflected in the number of companies that are constantly being created in this industry. Inspira, the winning company of the PITCH competition, was created during the pandemic with the idea of disrupting the legal sector using technology and democratizing legal information to make it more accessible to all.
This year Henrique Ferreira, co-founder of Inspira, traveled from São Paulo to Lisbon to participate in the competition, after having previously visited WebSummit as an attendee. After his company was chosen as the winner, Henrique mentioned that the victory was enormous for his company’s plans.
According to WebSummit, the PITCH competition aims to bring together hundreds of emerging startups in a live battle on stage, calling for ‘ALPHA’ and ‘BETA’ startups that have received less than 5 million euros in funding.
This year, 2,608 startups were present at WebSummit, of which 105 qualified for the three-day competition.