The Startup Ecosystem of Riga
Riga has 185 startups in our sample database. This represents about 91% of Latvia’s startups. Riga is the highest-ranked startup ecosystem in Latvia.
CITY RANKING
While Riga decreased by 13 spots in its global rank in the Global Startup Ecosystem Index of 2024, its ranking in Latvia remained stable at 1 nationally since 2023.
National Ranking
In Latvia
Regional Ranking
In Eastern Europe
Global Ranking
Worldwide
Ecosystem
Startup Ecosystem Overview
Startups
Riga Top Startup Industries
18 startups
12 startups
19 startups
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Ecosystem HealthCheck
Riga Ecosystem Health Check
The health check tables allow you to look at the performance Riga has in each of the parameters that are part of StartupBlink's ranking algorithm. There are five tables, corresponding to the three subscores, the subscore analysis and industry ana...
- Overperformance
- Performance equal to global ranking
- Underperformance
ECOSYSTEM
Browse the startup ecosystem database of Riga
Become our Riga Ecosystem Partner
Startup Ecosystem Charts
Startup Funding in Riga2017 - 2024
Startup Funding in Riga 2017 - 2024
From 2022 to 2023, startup funding in Riga has decreased by 42.55%. During this period, the number of deals in Riga has decreased by 55.81%. Since 2017, total startup funding in Riga exceeded US$ $338.97M.
Average Funding in 2023
$1.08M
Funding in 2023
$20.56M
Deals in 2023
19
USD
Amount of Funding (USD)
Number of Deals
Ecosystem
The Startup Ecosystem in Riga
Global Rank
Riga is ranked within the top 200 startup ecosystems globally.
Top Industries
Riga’s startups excel particularly in Fintech where it ranks 121 and in Social & Leisure, and Hardware & IoT. Find out more
Top Cities for Startups in Latvia - Ranked by StartupBlink
2024 National Rank  | City | Global Rank |  | | | |
|---|---|---|---|---|---|---|
1st 0 | 186th - 13 | 2.957 | 00.00 | 00.00 | 00.00 |
ECOSYSTEM
Why should you join Riga's Startup Ecosystem?
Overview
Within Riga there is an increased attraction for entrepreneurs to set up their startups in industries such as Fintech, Social & Leisure, Hardware & IoT. These three industries represent about 26% of the startups represented on the Startup Ecosystem Map of Riga.
1st
National Rank
14th
Regional Rank
Overview
Riga is Latvia's 1st best startup ecosystem and is ranked 14th in Eastern Europe. With a population of 1M - 2M people, Riga is ranked 186th in the world. The city has some notable startup success stories including Mintos.
ECOSYSTEM
Startup Infrastructure in Riga
BLOG
Recent Posts
Mon Apr 14 2025
From Service-Based to Product-Based Economy – Lessons from North Macedonia
In this special episode of the Startup Ecosystem Podcast, we revisit a conversation from two years ago, recorded during a visit to North Macedonia. Eli David Rokah, CEO of StartupBlink, sits down with Igor Madjov, founder of Startup Macedonia, to explore how Skopje is evolving from a service-based IT outsourcing city into a product-driven startup […]
Wed Apr 02 2025
Corporate Startup Activity Index 2025
For the first time ever, 372 corporations across 30 countries, 11 major industries, and 10 sub-industries have been ranked based on how actively they engage with startups. StartupBlink’s Corporate Startup Activity Index is the world’s first benchmark for corporate startup engagement — powered by real data, global partnerships with top corporations, governments and data sources, […]
Thu Mar 06 2025
The Impact of Government Support on Startups
A robust startup ecosystem creates a sense of community that brings entrepreneurs together and helps them feel less isolated. It gives them access to mentors, advisors, fellow entrepreneurs, and talents. The foundation of such an ecosystem largely relies on government support. Good policies create a fair and supportive environment that helps startups grow. Bad policies […]