Development of Startup Ecosystems: Lessons from Latvia and Scaling Prospects

Startup ecosystems in Eastern Europe continue to grow, and Latvia's example confirms this trend. The 2024 Startup Report highlights key regional trends: €62 million in venture capital for early-stage startups – a great opportunity for HealthTech and other innovative projects. Major deals, such as the merger of Printful and Printify, reshaped the startup landscape. Communities, like Startup House Riga, are creating spaces for growth and collaboration.

However, for large-scale growth, the following are still needed:

?? International investors can offer funding and access to global markets.

?? Programs aimed at talent development and retention.

?? Recognition on the global stage as a key innovation hub in the region.

4PM Ventures is actively working to develop similar ecosystems by supporting startups in attracting international capital and creating growth platforms. We aim to provide projects with tools for scaling and expanding to new markets.

The potential is growing – let's accelerate it together! ??

?? Learn more about Latvia's startup ecosystem in the Latvian Startup Report 2024