The Baltic startup ecosystem is often lauded as a booming space, filled with perspective and tech talent. With only six million inhabitants, the Baltics host 1,499 startups and per capita investments in startups can easily compete with Nordic countries.
While each country of the Baltics – Estonia, Latvia, Lithuania – has conducted its own startup report, it is rarely analyzed as a whole, and benchmarked against surrounding regions.
Therefore, the Baltic Startup Scene Report 2017/2018 was created by Startup Wise Guys and EIT Digital, providing both a comprehensive overview and also benchmark with Nordics and other neighbouring countries to get better insight to the state of the region, its progress, its potential, and ultimately, it’s status in the world of startups.
The report provides insights into the growth of funding over the past five years, biggest deals, most active VC funds, hand-picked startups to watch, corporate innovation cases and more.
Estonia is an outlier in terms of raised investment per capita in 2017 – 208. As a whole, it brings up Baltic performance to 57,56 eur per capita, not far off from the Nordics’ 80,71 per capita and significantly ahead CEE (Central and Eastern Europe) with 8,31.
There have been more than 950 startup visa applications till August 2018 by non-EU founders, mostly coming from Ukraine, Belarus, Russia and Turkey to the Baltics.
Cost-of-living calculations reveal that with 1093 eur on hand one person would easily last a month in any of the Baltic capitals, whereas the same money would last 11 days in London, and 17 days in Stockholm.
Although ICO craze seems to have passed, Baltics have made its mark, especially, Lithuania with impressive 500 million raised through ICOs in the first six months of 2018.
Full report is available for download via: www.startupwiseguys.com/report