Venture Faculty

09/09/2025

𝗕𝗶𝗹𝗹𝗶𝗼𝗻𝘀 𝗮𝘁 𝗪𝗼𝗿𝗸: 𝗟𝗮𝘁𝘃𝗶𝗮’𝘀 𝗘𝗨 𝗙𝘂𝗻𝗱𝗶𝗻𝗴 𝗣𝘂𝘇𝘇𝗹𝗲 🇪🇺💶

Our latest article by Edgars Poga and Tomass Vilks explores how twenty years of EU membership have transformed Latvia’s economy - from bridges and labs to digitised services and cleaner energy. 𝗦𝗶𝗻𝗰𝗲 𝟮𝟬𝟬𝟰, 𝗿𝗼𝘂𝗴𝗵𝗹𝘆 €𝟭𝟴 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 𝗵𝗮𝘀 𝗯𝗲𝗲𝗻 𝗶𝗻𝘃𝗲𝘀𝘁𝗲𝗱 𝗵𝗲𝗿𝗲.

But the real challenge today isn’t whether “Brussels money” arrives. It does. The question is: 𝘄𝗵𝗶𝗰𝗵 𝘁𝘆𝗽𝗲 𝗼𝗳 𝗘𝗨 𝗺𝗼𝗻𝗲𝘆 𝗱𝗼 𝘄𝗲 𝘄𝗶𝗻 - 𝗮𝗻𝗱 𝗵𝗼𝘄 𝗳𝗮𝘀𝘁 𝗰𝗮𝗻 𝘄𝗲 𝘁𝘂𝗿𝗻 𝗶𝘁 𝗶𝗻𝘁𝗼 𝗴𝗿𝗼𝘄𝘁𝗵?

𝗜𝗻 𝗼𝘂𝗿 𝗹𝗮𝘁𝗲𝘀𝘁 𝗮𝗿𝘁𝗶𝗰𝗹𝗲 𝘄𝗶𝘁𝗵 𝗩𝗲𝗻𝘁𝘂𝗿𝗲 𝗙𝗮𝗰𝘂𝗹𝘁𝘆, 𝘄𝗲 𝗲𝘅𝗽𝗹𝗼𝗿𝗲 𝗟𝗮𝘁𝘃𝗶𝗮’𝘀 𝗽𝗮𝗿𝗮𝗱𝗼𝘅:
🔹 Strong performance in co-financed infrastructure and cohesion funds (via Centrālā finanšu un līgumu aģentūra, Finanšu ministrija/ Ministry of Finance of the Republic of Latvia)
🔹 Weak results in competitive innovation programmes like Horizon
Europe and EIC - where ideas, IP, and deep-tech ecosystems are built

𝗦𝗼𝗺𝗲 𝗸𝗲𝘆 𝗳𝗶𝗻𝗱𝗶𝗻𝗴𝘀:
🔹 Latvia risks leaving money on the table in Brussels-run programmes, while Estonia and Lithuania surge ahead.
🔹 Horizon Europe data shows we lag in both participation and project leadership roles.
🔹 The bottlenecks? Co-financing hurdles, underuse of professional bid support, and limited R&D investment.

Yet there are bright spots. Companies like Naco Technologies (EIC Accelerator €2.3M) and Semantic Intelligence (AI project funding) show what’s possible when ambition meets ex*****on.

And this is precisely why members of Latvia’s innovation ecosystem - including MILA – Mākslīgā intelekta Latvijas asociācija – Latvian Association of Artificial Intelligence, Latvian Technological Center, Latvian Startup Association Startin.LV, Latvian IT Cluster / EDIH, Latvian Biomedical Research & Study centre, Riga Technical University (RTU) International, and Latvian Academy of Sciences - should take greater advantage of these funding programmes. The talent is here; participation just isn’t where it needs to be.

From our analysis, one thing is clear: 𝘁𝗼𝗼 𝗳𝗲𝘄 𝗰𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝘀𝗲𝗲𝗸 𝗽𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻𝗮𝗹 𝘀𝘂𝗽𝗽𝗼𝗿𝘁 𝘄𝗵𝗲𝗻 𝗮𝗽𝗽𝗹𝘆𝗶𝗻𝗴. That’s a big reason Latvia is missing out on innovation funding. In our experience, the right guidance and smarter tools can make all the difference - 𝗮𝗻𝗱 𝘁𝗵𝗮𝘁’𝘀 𝗲𝘅𝗮𝗰𝘁𝗹𝘆 𝘄𝗵𝗲𝗿𝗲 𝘄𝗲 𝗰𝗮𝗻 𝗮𝘀𝘀𝗶𝘀𝘁.👉https://www.venturefaculty.io/ai-procurement

𝗪𝗼𝘂𝗹𝗱 𝗹𝗼𝘃𝗲 𝘁𝗼 𝗵𝗲𝗮𝗿 𝘆𝗼𝘂𝗿 𝘁𝗵𝗼𝘂𝗴𝗵𝘁𝘀::
🔹 What will it take for Latvia to shift from absorbing funds to competing for innovation?
🔹 How do we ensure SMEs, universities, and researchers step into the EU innovation arena with confidence?

Let’s start the conversation.


https://www.linkedin.com/pulse/billions-work-latvias-eu-funding-puzzle-venture-faculty-p0duf

Twenty years inside the European Union have altered Latvia’s economic landscape in visible ways: roads and bridges, labs and industrial parks, digitised public services and cleaner energy systems. Since accession in 2004, roughly €18 billion of EU funding has been invested in Latvia across thous...

18/02/2025

At Venture Faculty, we’ve worked closely with different Baltic startup support mechanisms, helping businesses navigate and leverage these opportunities for growth. 🚀 We’ve seen firsthand how governments in the region are fueling startup success—not just through funding, but by designing mechanisms that keep founders ambitious and competitive.

Despite a 📉 5% decline in European startup funding in 2024, Latvia saw a 📈 7% increase, while Lithuania experienced a 🔥 remarkable 56% surge, reinforcing the region’s reputation as a thriving innovation hub. With 🌍 over 80% of investments coming from foreign investors, the Baltic states continue to attract global attention.

Each country in the region has taken its own approach to supporting startups, shaping its ecosystem with unique policies, funding programs, and incentives. Organizations like Latvijas Investīciju un attīstības aģentūra - LIAA, Startup Estonia, Startup Lithuania, ALTUM, and others play a key role in fostering growth, helping startups access funding, mentorship, and global opportunities. While they all benefit from EU support, their individual strategies make the region dynamic and full of opportunities for entrepreneurs and investors alike.

🔗 Want to dive deeper? Read our latest article below!

The Baltic region is known for its impressive output of startup unicorns per capita. While Estonia often takes the spotlight with the highest number of unicorns per capita, its Baltic neighbors, Latvia and Lithuania, by rapidly advancing by adopting best practices are also attracting significant inv...

21/08/2024

𝗟𝗮𝘁𝘃𝗶𝗮'𝘀 𝗻𝗼𝗻-𝗯𝗮𝗻𝗸 𝗹𝗲𝗻𝗱𝗲𝗿𝘀 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗲 𝘁𝗼 𝘀𝗵𝗮𝗸𝗲 𝘂𝗽 𝘁𝗵𝗲 𝗹𝗲𝗻𝗱𝗶𝗻𝗴 𝘀𝗰𝗲𝗻𝗲
With 46 companies leading the charge, they're using the latest technology to offer more flexible and innovative options than traditional banks.
These forward-thinking lenders aren't just making an impact in Latvia; they're going global, attracting big investments, and entering new markets.
Despite some challenges, they're staying competitive by lowering rates and outpacing traditional lenders.
Seems that the future of lending in Latvia looks good, innovative, and ready to make a global impact!🌍

Latvia's non-bank lending sector is undergoing a rapid transformation, with 46 companies now offering 19 unique products, outpacing traditional banks in variety and innovation. By leveraging advanced technologies like P2P platforms and machine learning, these lenders are enhancing cost-efficiency an...

15/08/2024

🚀 𝐉𝐨𝐢𝐧 𝐔𝐬 𝐟𝐨𝐫 𝐚𝐧 𝐄𝐱𝐜𝐢𝐭𝐢𝐧𝐠 𝐏𝐚𝐧𝐞𝐥 𝐃𝐢𝐬𝐜𝐮𝐬𝐬𝐢𝐨𝐧 𝐨𝐧 𝐋𝐚𝐭𝐯𝐢𝐚'𝐬 𝐒𝐞𝐦𝐢𝐜𝐨𝐧𝐝𝐮𝐜𝐭𝐨𝐫 𝐒𝐮𝐩𝐩𝐥𝐲 𝐂𝐡𝐚𝐢𝐧 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲! 🚀⁣⁣⁣
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📅 𝐃𝐚𝐭𝐞: 𝐒𝐞𝐩𝐭𝐞𝐦𝐛𝐞𝐫 𝟔𝐭𝐡 🕒 𝐓𝐢𝐦𝐞: 𝟏𝟓:𝟎𝟎 (𝐆𝐌𝐓 +𝟑) 📍 𝐋𝐨𝐜𝐚𝐭𝐢𝐨𝐧: Latvian Chamber of Commerce and Industry, Riga, Latvia⁣⁣⁣
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We are thrilled to invite you to an exclusive event organized by Venture Faculty in cooperation with the Ministry of Economics, the Investment and Development Agency of the Republic of Latvia, the Latvian Chamber of Commerce and Industry, and Riga Technical University.⁣⁣⁣
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🌟 𝐄𝐯𝐞𝐧𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬:⁣⁣⁣
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𝐊𝐞𝐲𝐧𝐨𝐭𝐞 𝐀𝐝𝐝𝐫𝐞𝐬𝐬: Start the event with an exciting keynote about industry trends and future outlooks.⁣⁣⁣
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𝐏𝐚𝐧𝐞𝐥 𝐃𝐢𝐬𝐜𝐮𝐬𝐬𝐢𝐨𝐧𝐬: Dive into critical conversations about Latvia's potential in the semiconductor supply chain industry.⁣⁣⁣
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𝐍𝐞𝐭𝐰𝐨𝐫𝐤𝐢𝐧𝐠 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬: Connect with key players from established enterprises, startups, investors, government representatives, and academic leaders.⁣⁣⁣
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𝐋𝐢𝐯𝐞𝐬𝐭𝐫𝐞𝐚𝐦 𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞: Can't make it in person? Join us via live stream. (Link will be shared with registered participants.)⁣⁣⁣
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This event is a unique opportunity to explore the vast potential of Latvia's capabilities in manufacturing and producing components required by the semiconductor industry. It's the perfect platform for fostering collaboration and driving growth in this rapidly evolving sector.⁣⁣⁣
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🎟 𝐏𝐚𝐫𝐭𝐢𝐜𝐢𝐩𝐚𝐭𝐢𝐨𝐧 𝐢𝐬 𝐟𝐫𝐞𝐞, 𝐛𝐮𝐭 𝐬𝐞𝐚𝐭𝐬 𝐚𝐫𝐞 𝐥𝐢𝐦𝐢𝐭𝐞𝐝! 𝐄𝐧𝐬𝐮𝐫𝐞 𝐲𝐨𝐮𝐫 𝐬𝐩𝐨𝐭 𝐛𝐲 𝐫𝐞𝐠𝐢𝐬𝐭𝐞𝐫𝐢𝐧𝐠 𝐧𝐨𝐰.⁣⁣⁣
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🔗 𝐑𝐞𝐠𝐢𝐬𝐭𝐞𝐫 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐢𝐧 𝐩𝐞𝐫𝐬𝐨𝐧 𝐞𝐯𝐞𝐧𝐭 𝐡𝐞𝐫𝐞: ⁣
⁣⁣⁣https://www.eventbrite.com/e/panel-discussions-start-up-of-the-latvias-semiconductor-supply-chain-industry-tickets-960458696817?aff=oddtdtcreator

🔗 𝐑𝐞𝐠𝐢𝐬𝐭𝐞𝐫 𝐭𝐨 𝐩𝐚𝐫𝐭𝐢𝐜𝐢𝐩𝐚𝐭𝐞 𝐨𝐧𝐥𝐢𝐧𝐞 𝐡𝐞𝐫𝐞: ⁣
⁣⁣⁣https://www.eventbrite.com/e/start-up-of-the-latvias-semiconductor-supply-chain-industry-online-tickets-99114918288

We look forward to seeing you and together positioning Latvia at the forefront of the semiconductor supply chain industry. Let’s capitalize on the immense opportunities this sector offers!⁣⁣⁣
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Welcome to the series of panel discussions on the possibilities of the supply chain industry for the semiconductor manufacturing in Latvia!

22/11/2023

🌟 The classic banking industry is changing forever with neobanks and other fintechs making the fight for SME and retail clients tighter every day.

⚔ How will the Banks respond and how this fight for SMEs and retail customers will turn out?

🔍 While neobanks and fintechs are fostering innovation, classic banks are getting more and more involved in buyouts, investments and partnerships with these players. At the same time, neobanks are adding more and more classic banking services like financing, investments, and deposits to their offering.

👉 Get acquainted with the latest trends in our article below

The development of digital technologies has impacted the majority of industries, including banking which has transformed drastically over the past 20 years. In the mid-2010s, neobanks emerged in the arena of banking services and gained significant traction over the past 7-8 years. It will be very in...

18/11/2023

Wishing a Happy Independence Day to everyone in Latvia from the Venture Faculty team! Let’s celebrate the nation's proud spirit and unity.

02/10/2023

🚀 We are thrilled to announce our latest pre-seed into Tokitus Online Therapy, which is on the mission to make professional therapy accessible by already providing 11 different types of therapy combined in 15 languages just a few clicks away🎉

We are excited to see, how Ulvia Avidan with 12+ years of experience in the field, together with a professional team and the new investment will start expansion across the Europe and UK and enhance the lives of so many! Good luck!

🔎 We believe that nowadays the awareness of has increased due to recent years highlighting so many issues, nevertheless, we believe, that after acknowledgment and awareness shall come the phase of a solution, and we are happy to be a part of it!

Read more below 👇

Lietuvoje ir Europoje trejus metus veikianti nuotolinės terapijos platforma „Tokitus“ sėkmingai pritraukė ankstyvosios stadijos (angl. pre-seed) investiciją. 125 tūkst. Eur investavo Latvijos privačių investuotojų tinklas „Venture Faculty“.

29/08/2023

🚀 The update of Latvian Fintech is is out!

🔍 Fintech makes up nearly to 29% of the country's startup ecosystem 📈 Explore the dynamic landscape of Payments, Data/IT solutions, P2P/Crowdfunding, and more, where innovation thrives! Discover rising newcomers like InDemo, Bonusu karte, FIS Solutionss and Finfra revolutionizing investment accessibility, employee benefits, and financial solutions. 💡

💰 While Funding patterns might have shifted, news on EU grants for VC funds and a new Baltic SME IPO fund, puts a big promise for early fintech's and ecosystem in whole 🚀

👉 Don't miss out on the exciting opportunities shaping the future of Latvian fintech! 🌐💼

The fintech sector is transforming global financial services, and Latvia, a rising player in the European fintech scene, is no exception. With a vibrant startup ecosystem, Latvia's fintech landscape offers innovation, challenges, and opportunities influenced by global trends.Venture Faculty with par...

23/06/2023

The Venture Faculty team wishes everyone a happy Līgo, so the good spirits be with you 🌿

For those from abroad, Līgo is the Latvian traditional solstice festival and is celebrated every year by singing folk songs, crafting meadow wreaths and burning the old ones, and jumping over a bonfire to drive the bad spirits away - what an amazing tradition we have 🤩

14/04/2023

🚀 Venture Faculty is Attending TechChill 2023! 🚀

We at Venture Faculty are excited to be joining the vibrant tech community at TechChill 2023, one of the premier startup events in the Baltic region! 🌟

🤝 TechChill brings together innovative startups, visionary investors, and industry leaders from over 30 countries to share knowledge, insights, and inspiration. This year's event promises to be as engaging as ever, featuring:

🔥 50 Founders Battle: Watch the most promising startups pitch their ideas in a fierce competition for funding and recognition.

🚀 Startup Expo: Discover the latest products and technologies showcased by some of the brightest minds in the industry.

🎉 Side Events: Join workshops, panel discussions, and networking sessions designed to connect, educate, and empower attendees.

See the link in the comments to buy your ticket and see you there soon! 🎊

Renat Lokomet Startin.LV LatBAN - Latvijas Biznesa eņģeļu tīkls Labs of Latvia

05/04/2023

Great news in the Latvian startup scene! 🇱🇻 Our partner company FIS Solutions just secured a EUR 250 thousand investment ticket from Expansion Capital 🚀

This is a significant landmark, especially in our FinTech/SaaS ecosystems, and we believe that the company has what it takes to be able to compete globally due to having one of the most unique and innovative products in the loan management system market, which is executed by an even stronger team, making us proud partners of such amazing company 🤩

FIS.solutions is a FinTech company that offers an all-in-one automated loan management system, enabling the launch of new FinTech products without the need for an in-house developers team. The system supports secured and unsecured loans, from consumer credit lines and buy-now-pay-later, to mortgages and car leases for both - private individuals and companies. The company aims to become the first to offer a 100% no-code solution in a freemium service 💯

Learn more about FIS.solutions and the startup's future plans in the official press release by Labs of Latvia 👉 https://labsoflatvia.com/en/news/fis-solutions-attracts-e250000-to-further-upgrade-loan-management-system

On a mission to reverse the paradigm for what it means to be a fintech company, Latvian startup FIS.solutions has received a €250,000 investment from Expansion Capital. The funding will assist in transitioning toward a complete no-code loan management system (LMS) and expanding the team. The upgra...

04/04/2023

We’re proud to see Qrunch - digital menu expert among participants of this year’s TechChill 50 Founders Battle! 🎊

Qrunch is one of 16 startups represented by Latvian founders alongside Abillio, Adventum Tech, BirgerMind, Bruntor, Cubed, Green Growth, Huntli, Medon, OG Sense, Overlyapp, PEERO, Sepsiscan, SimpleCharge, Spocaboo, and Sqrino. Such an amazing lineup truly illustrates the potential of Latvian ecosystem startups in different industries. Best of luck and happy pitching! 🚀

Get to know each of the 50 semi-finalists and their countries by pressing here 👉 https://techchill.co/fifty-founders-battle-semi-finalists-announced-2/