Why is Riga an excellent place for startups?
- Gateway to the European Union – Establishing a startup in Riga provides immediate access to the EU Single Market while benefiting from a cost-efficient, founder-friendly and highly accessible business environment.
- Accessible startup ecosystem – Riga offers something increasingly rare in Europe: direct access to people. Founders can quickly connect with investors, experienced entrepreneurs, ecosystem leaders, corporate partners and public-sector decision-makers. In a smaller and highly collaborative ecosystem, introductions happen faster, networks are more accessible and meaningful relationships can be built without layers of gatekeepers.
- Startup House Riga – The heart of Latvia's startup ecosystem, bringing together founders, investors, startup organisations and ecosystem partners in a shared community environment. Following its recent expansion, Startup House Riga has become one of the most important startup hubs in the Baltics, hosting more than 60 organisations and hundreds of community events, meetups and networking opportunities.
- Exceptional connectivity – Riga is home to the largest airport in the Baltics, offering direct connections to more than 90 destinations and easy access to major European startup, investor and customer markets.
- Skilled and multilingual talent – Latvia offers a highly educated workforce, with 41% of the population holding higher education qualifications and 95% speaking at least one foreign language. Founders benefit from access to engineering, technology, business and creative talent.
- International community – Startup events, accelerators, conferences and ecosystem activities are predominantly conducted in English, making it easy for international founders and talent to integrate into the local ecosystem from day one.
- Startup Law and founder-friendly regulation – Latvia's Startup Law provides dedicated support mechanisms for startups, including tax incentives and support for attracting highly qualified employees.
- Startup Visa programme – Non-EU founders can establish and grow their startups in Latvia through a streamlined Startup Visa framework. The programme supports up to five founders per company and is designed to be family-friendly.
- One of Europe's most attractive employee stock option frameworks – Startups can use favourable share option schemes to attract, motivate and retain key talent while scaling their businesses internationally.
- Competitive tax environment – Latvia offers one of the most competitive tax systems in the OECD, including 0% corporate income tax on reinvested profits and startup-specific support mechanisms.
- Support for growth and scaling – Startups can access business incubators, accelerators, innovation programmes, export support, startup grants and dedicated public support schemes at both municipal and national levels.
- Accessible venture capital ecosystem – Founders have access to active local and regional investors, including BADideas, Buildit, Outlast and other Baltic venture capital funds investing across software, fintech, AI, deep tech, hardware and defence technologies.
- Built for innovation – Riga offers strong connections to universities, research institutions and innovation centres, while startups can pilot and test solutions in real-world environments through the city's testbed programme and innovation ecosystem.
Notable startups
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First unicorn in Latvia
Files for download
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Useful Links:
- Latvian Startup Association
- Current news in the startup sector
- Current information for startups on national level
- Startup visa
Riga Investment and Tourism Agency's Co-financing Programs
- Riga startup eco-system support program
- Memorandum of Cooperation between Riga and Startup Ecosystem
- Support program for diaspora relocation
- Relocation program of highly qualified specialists
- Accelerator and Incubator Support Program
- Workcation Riga
Q&A
Startup & Scaleup Investment Guide
Why should startups choose Riga over larger European startup hubs?
Many founders are looking beyond highly saturated startup ecosystems where hiring competition, operating costs and access to investors can become significant challenges.
Riga combines access to the European Union market with lower operating costs, a highly educated workforce and a collaborative startup community. Latvia currently has approximately 569 startups and more than 5,100 startup employees, making the ecosystem large enough to provide expertise, talent and investment opportunities while remaining accessible for new entrants. This creates an environment where founders can build relationships, recruit talent and access ecosystem support without facing the intense competition often found in larger European startup hubs.
Is Riga a good entry point into the European Union market?
Yes. As a member of the European Union, Latvia provides startups with direct access to the EU Single Market and more than 450 million consumers.
For international founders, Riga offers a practical and cost-efficient base for launching products, building teams and expanding across Europe. Startups benefit from European regulatory alignment, strong international connectivity and a business environment where key stakeholders remain highly accessible.
What makes Riga's startup ecosystem different?
Accessibility.
In many larger startup hubs, founders often compete for attention from investors, ecosystem leaders and decision-makers. Riga offers a more connected environment where introductions happen quickly and relationships are easier to build. More than 81% of Latvia's startups are based in Riga, creating a concentrated ecosystem where founders regularly interact with investors, ecosystem organisations, corporations and policymakers. For many entrepreneurs, this ability to quickly access decision-makers becomes a significant competitive advantage.
What is Startup House Riga and why is it important?
Startup House Riga is the centre of Latvia's startup ecosystem and one of the most important startup hubs in the Baltic region.
Following its recent expansion into a second building, Startup House today hosts more than 60 startups, investors and ecosystem organisations and has hosted more than 400 events. The hub serves as a shared community space where founders can access networking opportunities, mentors, investors, ecosystem partners and business support services. For many international founders, Startup House becomes the first point of entry into the Latvian startup ecosystem.
Is venture capital available for startups in Riga?
Riga provides access to a growing venture capital ecosystem active across software, fintech, AI, deep tech, hardware and defence technologies.
Founders can access investors such as BADideas, Buildit and Outlast, while more than EUR 62 million in ALTUM-backed venture capital funding is expected to be invested into startups over the coming years. Latvian startups attracted more than EUR 70 million in investment in 2025, while Aerones alone secured EUR 53.2 million, demonstrating the ability of Riga-based startups to attract international growth capital.
Can startups find technical talent in Riga?
Yes.
Latvia combines strong technical education with a multilingual and internationally oriented workforce. More than 76,000 students are enrolled in higher education institutions, including approximately 8,800 students in natural sciences, mathematics and information technologies. Around 42% of the workforce holds higher education qualifications, while more than two-thirds of residents speak at least two foreign languages. This creates access to software developers, engineers, designers, researchers and internationally minded business professionals.
Is Riga a good location for deep-tech and science-based startups?
Riga is increasingly recognised as a destination for deep-tech, science-based and innovation-driven companies.
Strong cooperation between startups, universities and research institutions provides access to research infrastructure, prototyping facilities, specialised talent and technology-transfer expertise. Companies operating in biotech, medtech, robotics, AI, defence technology, advanced manufacturing and climate technologies can leverage these connections to accelerate product development and commercialisation.
Can startups test products and smart-city solutions in Riga?
Yes.
Riga actively supports innovation pilots through dedicated testbeds and real-world testing environments. Since 2023, the city has effectively operated as a city-wide innovation testbed, enabling startups to test and validate solutions across mobility, digital technologies, energy, healthcare and smart-city applications in real operating conditions. This allows founders to move from prototype to deployment significantly faster.
What support programmes are available for startups in Riga?
Startups can access a broad range of municipal and national support programmes.
These include accelerator and incubator programmes, startup ecosystem grants, relocation support, export support, innovation vouchers, startup-specific tax incentives, Startup Visa support and dedicated funding for highly qualified employees. Additional support is available through Riga Investment and Tourism Agency, national innovation programmes and business-support organisations.
What startup sectors are strongest in Riga?
Riga has developed a diverse startup ecosystem with particular strengths in business software, fintech, healthtech, AI, robotics, climate tech, defence technology, advanced manufacturing and deep-tech innovation.
The ecosystem includes internationally recognised companies such as Printful, Aerones, Giraffe360, Mintos, Longenesis, Paynt and Naco Technologies, demonstrating the global scalability of startups originating from Riga and Latvia.
Why is Riga becoming a hub for defence technology startups?
Defence and dual-use technologies have become one of the fastest-growing segments of Latvia's innovation ecosystem.
The country hosts initiatives and organisations including NATO DIANA Accelerator activities, UniLab Defence, MilTech Latvia and the annual Drone Summit. Combined with growing government support for defence innovation, these initiatives are helping position Riga as an emerging European location for defence technology, autonomous systems and dual-use innovation.
Why is Riga attractive for fintech startups?
Fintech companies benefit from a supportive regulatory environment, strong financial-services expertise and access to European markets.
The ecosystem includes established companies such as Mintos, Paynt and Sun Finance and is supported by the Fintech Latvia Association, the Latvian Blockchain Association and the Bank of Latvia. Several financial licences can be obtained within competitive timeframes, providing fintech companies with an attractive platform for European expansion.
Why should scaleups consider Riga?
Scaleups require talent, capital, operational flexibility and room to grow.
Riga offers a combination that is becoming increasingly difficult to find in larger European startup hubs. Latvia has the smallest startup workforce among the Baltic states despite maintaining a strong talent pipeline, meaning competition for talent remains lower and expansion opportunities remain significant. At the same time, scaleups gain access to European markets, venture capital, startup-friendly public support programmes and one of the most competitive corporate tax systems in the OECD, including 0% corporate income tax on reinvested profits.
Why should founders choose Riga today rather than later?
Riga is at a rare stage of ecosystem development where founders can still benefit from the advantages of an emerging ecosystem while accessing increasingly mature infrastructure, community networks and investment opportunities.
The number of startups continues to grow, Startup House has expanded, new venture capital funds have launched and more than EUR 60 million in additional venture funding is expected to enter the market. Emerging sectors including AI, defence technology, robotics, fintech, climate technology and deep tech are gaining momentum. For founders, this means an opportunity to build within a highly accessible ecosystem before it becomes significantly more crowded and competitive.
Many founders are looking beyond highly saturated startup ecosystems where hiring competition, operating costs and access to investors can become significant challenges.
Riga combines access to the European Union market with lower operating costs, a highly educated workforce and a collaborative startup community. Latvia currently has approximately 569 startups and more than 5,100 startup employees, making the ecosystem large enough to provide expertise, talent and investment opportunities while remaining accessible for new entrants. This creates an environment where founders can build relationships, recruit talent and access ecosystem support without facing the intense competition often found in larger European startup hubs.
Yes. As a member of the European Union, Latvia provides startups with direct access to the EU Single Market and more than 450 million consumers.
For international founders, Riga offers a practical and cost-efficient base for launching products, building teams and expanding across Europe. Startups benefit from European regulatory alignment, strong international connectivity and a business environment where key stakeholders remain highly accessible.
Accessibility.
In many larger startup hubs, founders often compete for attention from investors, ecosystem leaders and decision-makers. Riga offers a more connected environment where introductions happen quickly and relationships are easier to build. More than 81% of Latvia's startups are based in Riga, creating a concentrated ecosystem where founders regularly interact with investors, ecosystem organisations, corporations and policymakers. For many entrepreneurs, this ability to quickly access decision-makers becomes a significant competitive advantage.
Startup House Riga is the centre of Latvia's startup ecosystem and one of the most important startup hubs in the Baltic region.
Following its recent expansion into a second building, Startup House today hosts more than 60 startups, investors and ecosystem organisations and has hosted more than 400 events. The hub serves as a shared community space where founders can access networking opportunities, mentors, investors, ecosystem partners and business support services. For many international founders, Startup House becomes the first point of entry into the Latvian startup ecosystem.
Riga provides access to a growing venture capital ecosystem active across software, fintech, AI, deep tech, hardware and defence technologies.
Founders can access investors such as BADideas, Buildit and Outlast, while more than EUR 62 million in ALTUM-backed venture capital funding is expected to be invested into startups over the coming years. Latvian startups attracted more than EUR 70 million in investment in 2025, while Aerones alone secured EUR 53.2 million, demonstrating the ability of Riga-based startups to attract international growth capital.
Yes.
Latvia combines strong technical education with a multilingual and internationally oriented workforce. More than 76,000 students are enrolled in higher education institutions, including approximately 8,800 students in natural sciences, mathematics and information technologies. Around 42% of the workforce holds higher education qualifications, while more than two-thirds of residents speak at least two foreign languages. This creates access to software developers, engineers, designers, researchers and internationally minded business professionals.
Riga is increasingly recognised as a destination for deep-tech, science-based and innovation-driven companies.
Strong cooperation between startups, universities and research institutions provides access to research infrastructure, prototyping facilities, specialised talent and technology-transfer expertise. Companies operating in biotech, medtech, robotics, AI, defence technology, advanced manufacturing and climate technologies can leverage these connections to accelerate product development and commercialisation.
Yes.
Riga actively supports innovation pilots through dedicated testbeds and real-world testing environments. Since 2023, the city has effectively operated as a city-wide innovation testbed, enabling startups to test and validate solutions across mobility, digital technologies, energy, healthcare and smart-city applications in real operating conditions. This allows founders to move from prototype to deployment significantly faster.
Startups can access a broad range of municipal and national support programmes.
These include accelerator and incubator programmes, startup ecosystem grants, relocation support, export support, innovation vouchers, startup-specific tax incentives, Startup Visa support and dedicated funding for highly qualified employees. Additional support is available through Riga Investment and Tourism Agency, national innovation programmes and business-support organisations.
Riga has developed a diverse startup ecosystem with particular strengths in business software, fintech, healthtech, AI, robotics, climate tech, defence technology, advanced manufacturing and deep-tech innovation.
The ecosystem includes internationally recognised companies such as Printful, Aerones, Giraffe360, Mintos, Longenesis, Paynt and Naco Technologies, demonstrating the global scalability of startups originating from Riga and Latvia.
Defence and dual-use technologies have become one of the fastest-growing segments of Latvia's innovation ecosystem.
The country hosts initiatives and organisations including NATO DIANA Accelerator activities, UniLab Defence, MilTech Latvia and the annual Drone Summit. Combined with growing government support for defence innovation, these initiatives are helping position Riga as an emerging European location for defence technology, autonomous systems and dual-use innovation.
Fintech companies benefit from a supportive regulatory environment, strong financial-services expertise and access to European markets.
The ecosystem includes established companies such as Mintos, Paynt and Sun Finance and is supported by the Fintech Latvia Association, the Latvian Blockchain Association and the Bank of Latvia. Several financial licences can be obtained within competitive timeframes, providing fintech companies with an attractive platform for European expansion.
Scaleups require talent, capital, operational flexibility and room to grow.
Riga offers a combination that is becoming increasingly difficult to find in larger European startup hubs. Latvia has the smallest startup workforce among the Baltic states despite maintaining a strong talent pipeline, meaning competition for talent remains lower and expansion opportunities remain significant. At the same time, scaleups gain access to European markets, venture capital, startup-friendly public support programmes and one of the most competitive corporate tax systems in the OECD, including 0% corporate income tax on reinvested profits.
Riga is at a rare stage of ecosystem development where founders can still benefit from the advantages of an emerging ecosystem while accessing increasingly mature infrastructure, community networks and investment opportunities.
The number of startups continues to grow, Startup House has expanded, new venture capital funds have launched and more than EUR 60 million in additional venture funding is expected to enter the market. Emerging sectors including AI, defence technology, robotics, fintech, climate technology and deep tech are gaining momentum. For founders, this means an opportunity to build within a highly accessible ecosystem before it becomes significantly more crowded and competitive.
Contacts:
Ieva Felman, tel. +371 29395757, e-mail: Ieva.Felmena@riga.lv