Startups in Riga
Latvia was the first Baltic state to pass a dedicated startup law, and the city runs its own co-financing programmes on top of it. Riga and its planning region hold 82% of Latvia's startups.
€69m
invested in Riga startups in 2025, up 392%
Riga Economic Profile 2026 · 2025
4,653
people employed by Riga startups, up 6%
Riga Economic Profile 2026 · 2025
€105.2m
paid in taxes by Riga startups in 2025
Riga Economic Profile 2026 · 2025
Why here
The regulatory package is the substance. Latvia's startup law - first in the Baltics - approved 37 companies for tax breaks and talent co-financing in 2025. The stock option regime is among the more favourable in Europe, which matters for retention. The startup visa regime had 61 foreign founders holding active residence permits at the end of 2025.
The numbers
315 startups are registered in Riga with a further 84 in the Riga Planning Region - together 80% of all startups registered in Latvia. Investment reached €69 million in 2025, a 392% increase, with Aerones raising €54 million, the largest single round. Employment stood at 4,653, up 6%.
| Year | Tax paid by Riga startups |
|---|---|
| 2025 | €105.2 million |
| 2024 | €84.3 million |
| 2023 | €70.5 million |
| 2022 | €60.6 million |
Riga Economic Profile 2026 · 2025
Funding
ALTUM-selected venture funds - Buildit, BADideas.fund and Outlast - hold €62 million for early-stage companies.
City co-financing
The Riga Investment and Tourism Agency invested €890,900 across startup and business support programmes in 2025. The startup ecosystem support programme has committed €519,870 since 2022 across 45 activities, with €220,000 allocated for 2026. The accelerator and incubator support programme has committed €575,000 since 2022 across 17 programmes, with €210,000 for 2026. The startup house programme offers up to €450,000 per beneficiary over three years; it supports Startup House Riga, which brings together around 70 organisations and, in its first twelve months, supported 23 startups, hosted more than 400 events, and saw 9 startups raise €7.7 million.
The ecosystem
TechChill draws more than 2,300 participants annually · Baltic FinTech Days · DeepTech Atelier · Startup House Riga · Riga TechGirls · Startin.LV, the national startup association, founded 2016 · Unilab, running NATO's DIANA defence technology programme in Latvia since 2025
What applies to you
Startup law tax breaks and talent co-financing · startup visa · stock option regime · ALTUM venture funds · city co-financing programmes as listed above · Green Corridor fast-tracking
What we won't claim, and what we don't publish
Riga is not the startup capital of the Baltics. Estonia's ecosystem is larger, better capitalised and better known, and any founder comparing the two will establish that in an afternoon. What Riga offers is a specific regulatory package, direct municipal co-financing that Tallinn does not match programme-for-programme, and a lower cost base. If you are choosing on ecosystem density, choose Tallinn. If you are choosing on runway, run the numbers here.
We also do not publish survival and failure rates, follow-on funding rates, median round size, or founder origin breakdown. And note that the €69 million figure is heavily concentrated in a single €54 million round, which means the underlying trend line is thinner than the headline suggests - we would rather you knew that from us than worked it out yourself.
NOT PUBLISHED
Next step
Tell us the function, the target headcount and the timeline. We reply within one business day and send the relevant cost and talent data within three working days. No charge at any stage.
Placeholder contact for demonstration purposes.
Sources
Riga Economic Profile 2026, Riga Investment and Tourism Agency · Startup Heatmap Europe · ALTUM · Central Statistical Bureau of Latvia
Last checked: 17 August 2026