In total 28 members of Latvian startup ecosystem have officially formed Latvian Startup Association.

Latvian Startup Association is a grassroots initiative established to promote Latvian startup scene, connect it to the rest of the world, represent its interests, foster mutual respect and promote understanding about startups in Latvia.

“Latvian startups have raised over €100 million to date. This is only the disclosed funding. I am convinced that Latvia has all necessary potential prerequisites to become a hub of north-eastern European startup movement.”

Latvian startup scene players have been uniting around common causes before. Latvian Private Equity and Venture Capital Association (LVCA) is the oldest organization of VC investors in the Baltics. Also Latvian business angels have formed LatBAN.

Startups with similar tech, industry and business model work together in co-working spaces – and Latvian government launched Labs of Latvia startup community platform last year to promote Latvian startup ecosystem.

However, the number, variety and ambition of founding members in Latvian Startup Association is unprecedented.

Founding members include the co-founder of Infogr.am and Fragmentic Uldis Leiterts, the best drone of CES 2015 Airdog, Latvia’s oldest and biggest co-working space TechHub Riga, LVCA, Latvia’s recent successful science exit Naco Technologies, the former Minister of Economy of Latvia Daniels Pavluts, Board Member of Rietumu Bank Renats Lokoments, European Investment Fund regional manager Krisjanis Zarins and many other startups, organizations and individuals.

“We have already started work on legal definition of startups versus SMEs. This is core to move on with any startup policy. We also have a list of other priority tasks, and are ready to shape Latvia as a country open to innovations and attractive for foreign investors.”

The association is an open initiative welcoming new members. The official launching event will take place on March 9 at 17:00 at Nordic Club House. Participants will be able to find out more about Latvian Startup Association, its goals and members, as well as get acquainted with Latvian Startup Manifesto. New members are welcome to join at the lanch event or reach out to the Jekaterina Zaiceva directly.