The European Investment Bank will launch a support program for new enterprises in our republic starting January 2026. The Latvian Investment and Development Agency is designated as the "single contact point" in the cooperation agreement.
In the First Third
In the Global Startup Ecosystem Index 2025, Latvia ranks 49th among 150 countries worldwide. "There is potential to become a technology center with access to the European market and relatively low living expenses," states the document from the Ministry of Economics, justifying the need for loans from the European Investment Bank (EIB).
The ecosystem of Latvian startups has developed in recent years, with more than five hundred new legal entities operating in the country; however, the dynamics of attracting investments are uneven, and the volumes of private venture capital still significantly lag behind Estonia and Lithuania.
According to information from the Latvian Association of Startups, Latvian startups have attracted a total of 620 million euros in investments over the past ten years. Last year, the amount of funds attracted to Latvia reached 34 million euros, while in Lithuania it was 426 million euros, and in small Estonia — 353 million euros. These figures clearly show that Lithuania and Estonia are significantly ahead of Latvia in attracting investments.
With Seven Nannies, the Child Is Blind
"Despite the availability of various state and EU support tools in Latvia, many enterprises are not sufficiently prepared for professional investment attraction — there is a lack of a unified methodology, structured tools, and a single approach to preparing enterprises for investor requirements. The supportive environment is still assessed as fragmented, with significant differences in the competencies of organizations and the quality of services," the authorities self-critically acknowledge.
It seems there are opportunities for startups: the Latvian Technology Center, the Latvian Technology Park, the Science and Innovation Park, the Ventspils High Technology Park... But "sufficiently long-term financing models have not been created."
The new year will bring fresh trends in the startup sector: the EIB will create a special digital platform to support new enterprises, and a pilot project will run from January 1 to June 30 at the Riga Technical University, where up to 70 representatives of companies can apply. Nevertheless, the EIB will not be a simple cash machine — "cooperation will be carried out with an emphasis on intangible investments — facilitating the exchange of professional knowledge..."
The project, presented by Minister of Economics Viktors Valainis (Union of Greens and Farmers), also states that the ministry will report on the work done by December 31, 2027 — i.e., already under a completely new Saeima and government.
