New Information Site Launched for Start-Ups & Investors

An informative site startuplatvia.eu has been launched by the Investment and Development Agency of Latvia (LIAA) for foreign investors and foreign start-ups launching their businesses in Latvia. The new site will provide information about Latvia’s business environment, starting a business, success stories of other companies that have launched their operations in Latvia, as well as information about contacts, events and opportunities.

"Latvia has an enormous potential to become the technology center of the region. We already have a lot of advantages over other countries: excellent environment and quality of life, suitable geographical location and developed airport, IT infrastructure, excellent talent and language skills, as well as various support programs designed specifically for start-up companies. The informational website startuplatvia.eu is a significant step forward, that will help us to spread the word about these advantages and strengths to a broader international audience, thus, attracting investors and successful companies to Latvia," emphasizes Andris Ozols, Director of LIAA.

The two main types of audiences that will benefit most from the new website are entrepreneurs and foreign investors. Startuplatvia.eu is designed as an easy-to-read source of information and an in-depth look into the start-up community in Latvia, with the goal of promoting Latvia in the technology world and encouraging more people with innovative ideas to choose Latvia as the place to implement their ideas. This goal is also reflected in the slogan chosen by Latvia’s start-up community, #StartinLatvia (which stands for "Get Started in Latvia!"). This slogan sends a message about Latvia as a great home-base for technology companies.

Deputy Prime Minister and Minister of Economic Affairs Arvils Aseradens points out that the start-up sector in Latvia is relatively new, therefore, in order for the start-up environment to be developed quicker, both the support from the state as well as an active initiative and participation from the start-up community is needed for successful marketing and developing more synergies. Earlier this year, the Investment and Development Agency of Latvia (LIAA) established a representative office in Silicon Valley, in the U.S., the global centre and the hot spot for start-ups. "The digital platform startuplatvia.eu is the next step for the integration of the Latvian start-up ecosystem into the global technology community. It is the international arena where the Latvian start-ups can attract the attention of global investors and talents to further the growth of their companies. I am pleased that both sides, both the start-up industry and policy makers, are equally active in the development of the start-up ecosystem," Aseradens noted at the launching of the new website. He emphasized that the international marketing of the start-up ecosystem is mutually beneficial to both sides and that it will result in strengthening innovation and the overall economy as well as attracting new investment into the start-up sector.

The platform will provide start-up founders with regular updates on the benefits and opportunities offered by the business environment in Latvia, such as acceleration funds, innovation vouchers, commercialization initiatives, the privileges that are afforded by the Start-Up Law, start-up visas (resident permits), events and latest news on start-ups. In addition, the new website offers investors and foreign media with information about success stories of Latvian start-ups, as well as getting more information about industry partners – organizations, events, institutions and local investors.

A wide range of new business databases and calendar of events are also available on the start-up website, which will be updated regularly. The start-up community will engage in contributing content to the platform as well.

Source: Ministry of Economics