Latvia is a small country in Northern Europe with a rapidly developing startup ecosystem
The country has a strong focus on technology and innovation, with a growing number of startups in various industries
The Latvian government has taken several initiatives to support the growth of the startup ecosystem and attract investment
Growing Industries
Technology: Latvian startups are making a name for themselves in the technology sector, particularly in the areas of fintech and cybersecurity. Examples: PayPing, Armorly, MorethanIP
E-commerce: The e-commerce industry is also growing in Latvia, with many startups focused on solving problems in the sector. Examples: VitruvianTech, SIA Baltic Data Center
Healthtech: The healthtech sector is also emerging as a strong area for Latvian startups. Examples: Infogr.am, ClickDoc
Fundraising Environment
VC funds and business angels are becoming more active in Latvia, providing funding and support to growing startups
In recent years, there have been several successful exits by Latvian startups, which is helping to attract more investment to the country
Active Investors
Techhub Riga
Latvian Startup Fund
Latvian Business Angels Network
Government Initiatives
The Latvian government has launched several programs to support the growth of the startup ecosystem, including funding for early-stage startups and tax incentives for investors
The country has also established innovation centers and incubators to support the growth of startups, such as the Latvian IT Cluster and the Latvian Investment and Development Agency