11 Jan Baltic Startup Scene Report 2017/2018

Why Startup Report?

The Baltic startup ecosystem is often lauded as a booming space, filled with perspective and tech talent. While each country of the Baltics – Estonia, Latvia, Lithuania – has conducted its own startup reports, it is rarely analyzed as a whole, and benchmarked against surrounding regions.

Hence we, Startup Wise Guys and EIT Digital, came up with this report. We 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.

Some highlights

Looking at absolute numbers, everything around Baltics might seem small, but the moment you zoom in on per-capita data, these little countries manage to outperform the larger CEE region and are a true challenger to the wealthy neighbours in Scandinavia.

To give you a hint, in the report you will find:

  • funding overview & biggest deals
  • list of most active VC funds
  • Startup Visa data
  • Curated list of startups to watch
  • Fintech regulations

And much more, including a calculation how long you would survive with the same money in London, Stockholm and Kyiv vs Baltic capitals.


This startup 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 2017/2018 by Startup Wise Guys & EIT Digital. For social media and blog posts, we have prepared some adapted visuals.