For the second year in a row, Startup Wise Guys & EIT Digital published the Baltic Startup Scene Report!
Here are some key highlights of the 2018/2019 edition:
- The Baltics have caught up with the Nordics in terms of startup funding raised per capita, namely, €99.03 vs €85.05.
- While the Baltics are often associated with Fintech, it is the Mobility sector that has seen the largest funding attracted in 2018/2019.
- The Baltics continue to be an attractive destination for non-EU startup founders mostly from Ukraine, Belarus, Russia and Turkey. There have been more than 621 startup visa applications by founders since the establishment of startup visa regimes in 2017.
Rarely is the Baltic startup ecosystem looked at as a whole, and then benchmarked against the surrounding region. Startup WiseGuys and EIT Digital have done just that. We believe that the Baltic region has a great deal to offer and that by laying it out on a platter, we’re able to shed more light on the region itself, draw attention to it as a promising environment, and bring the best to investors and startups alike.
We also believe that by understanding where the Baltics stand compared to neighbouring regions, such as the Nordics and Central and Eastern Europe (CEE), we’re able to provide more precise insight to the state of the region, its progress, its potential, and ultimately, it’s status in the world of startups.
Methodology
This report is created as a collection, comparison, and analysis of publicly available information, combined with data and insights from 25+ stakeholders from the Baltic startup ecosystem (startup organisations, VC funds, Business angel associations and individual investors, accelerators, startups, support organisations, governmental entities and opinion leaders). Data about Baltic countries has been benchmarked against other regions, cities and countries to give a different and more comprehensive angle.
Enjoy reading and feel free to share this information, as long as you refer to: Report on Baltic Startup Scene 2018/2019 by Startup Wise Guys & EIT Digital.
