Great news for Riga's startup ecosystem!

Riga plans to invest EUR 450,000 in the development of a startup center over the next 3 years, implementing a new investment support program!

To promote innovation, startup, and technology development in Riga, the Riga Investment and Tourism Agency announces the launch of a new investment support program, the "Startup Houses Support Program," aimed at specifically fostering the operations of startup houses in Riga. In total, the capital plans to invest EUR 450,000 in the development of a startup center over the next 3 years.

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

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.

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Startup scene in Riga 2024

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