Creating Startups in Riga

Latvia was recently ranked by Index Ventures as the most “startup-friendly” country in Europe!

A group of three people having a discussion

Index Ventures has recognized Latvia as the most startup-friendly country in Europe in 2021. Riga has made this sector a priority and is actively working to ensure that the startup ecosystem in Riga grows and thrives! There are currently more than 600 registered start-ups in Latvia and about 70% of them are registered in Riga. Latvian startups have attracted more than EUR 362 million in investments in the last three years (2020-2022), which is more than in the period 2013 - 2019 combined.

NEW! Latvian Startup Report 2023

Files for download

Startup scene in Riga 2023
Latvian Startup Report 2022

Why is Riga an excellent place for startups?

  •  Excellent connectivity - Riga Airport is the largest in the Baltics with the best connections for easy access to the whole of Europe.
  • Highly skilled workforce - trilingual, well-educated and highly motivated.
  • International startup community with industry events predominantly in English.
  • Law on support for startups as a national support for startups.
  • The Startup Visa is offered to all non-EU startup founders willing to come and launch their startup ideas in Latvia. The Startup Visa is open to up to five founders and is particularly family-friendly.
  • Favorable regulation of share options. Share options are a bonus scheme that allows companies to attract key employees over several years.
  • A favorable tax environment for startups.
  • 11 regional business incubators and 9 support units across Latvia, offering training, mentoring support and grants, as well as organizing events on general business issues. In addition, a Creative Industries Incubator in Riga, specializing in support for creative industries.
  • A friendly and growing startup ecosystem with shared formal and informal networks and educational events, as well as a daily dialogue with the municipality.
  • Easily accessible venture capital funds from all over the Baltics: BadIdeas Fund, BuildIt, Change Ventures, Commercialisation Reactor

Success stories of startups in Latvia

Lokalise, Sonarworks, CastPrint, FIXAR, Mintos, Printful, Edurio, GameChangerAudio, Anatomy Next, Aerones, giraffe360, Printify

Useful Links:

Riga Investment and Tourism Agency's Co-financing Programs

Contacts:

Ieva Felman, tel. +371 29395757, e-mail: Ieva.Felmena@riga.lv

If you need an assistance

We are your first point of contact if you're interested in Riga as a place for investment, business development, or film production. We will assist and help with the right people and organizations without added cost. Get in touch and let's make things happen.

LET US KNOW
This website uses mandatory cookies.With your consent, cookies necessary for statistics and marketing may also be used on this website.
If you accept additional cookies, please select your choice: