StartupLatvia
StartupLatvia (Magnetic Latvia Startup) is a government-backed initiative under Latvia's Investment and Development Agency, offering non-EU founders a Startup Visa, Startup Law tax benefits, and concierge support for launching and registering companies in Latvia and the EU.
- Company typePrivate
- Founded2017
- HeadquartersRiga, Latvia
- Headcount1–10
- GTM typeB2B
- OfferingServices
What StartupLatvia does
StartupLatvia (operating as Magnetic Latvia Startup) is a government-backed initiative launched in 2017 and operated by the Investment and Development Agency of Latvia (LIAA), a state entity under the Latvian Ministry of Economics. The initiative functions as a national startup support portal and one-stop-shop targeting primarily non-EU founders seeking EU market access, as well as local Latvian entrepreneurs across pre-incubation and incubation stages. Its core offerings include the Startup Visa (a temporary residence permit valid up to 3 years for up to 5 founders per business idea, processed in 30 business days for a EUR 100 fee), Startup Law Benefits (a flat EUR 340.90/month social tax per employee, waived employee income tax, and 45% government co-financing for highly qualified staff), company registration support (LLC with reduced equity at EUR 34.23+EUR 4.00, standard LLC at EUR 177.03+EUR 4.00), and access to 13 regional business incubators plus one creative industries incubator offering pre-incubation (up to 6 months) and incubation (up to 4 years) with 50% co-financing.
The platform bundles these mechanisms into a "Welcome Pack" framed as "Money" (funding and cost-saving) and "Cool Stuff" (visa and benefits). The underlying technology is a content/portal architecture (startuplatvia.eu) with a resource library of downloadable guides, model legal documents supplied by law firm Sorainen, fact sheets, and e-signature-enabled public services. There is no proprietary software stack or AI capability; the system relies on coordination between LIAA, the Office of Citizenship and Migration Affairs (OCMA), the Register of Enterprises, ALTUM (state development finance institution), Startin.LV (startup association), LATBAN (business angels network), LVCA (PE/VC association), Buildit and Startup Wise Guys (accelerators), TechHub Riga (co-working), and major banks (Swedbank, SEB, Luminor).
The business model is non-commercial: services are provided free of charge to founders, with the initiative publicly funded as part of Latvia's economic development strategy. Only third-party administrative fees accrue (visa application, registration, minimum equity requirements). Revenue mechanics, therefore, do not apply in the conventional sense, and growth is measured by ecosystem indicators (400+ startups in Latvia, EUR 15 million in acceleration funding channelled through ALTUM, named ecosystem successes including Printify, Prime Prometics, Adventum Tech, Swotzy, and MatchdayPass) rather than top-line financial performance.
StartupLatvia firmographics
Firmographics- Name
- StartupLatvia
- Legal name
- Startup Latvia (Magnetic Latvia Startup)
- Website
- https://startuplatvia.eu
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- StartupLatvia (Magnetic Latvia Startup) is a government-backed initiative under Latvia's Investment and Development Agency, offering non-EU founders a Startup Visa, Startup Law tax benefits, and concierge support for launching and registering companies in Latvia and the EU.
- Ownership category
- akta.pro rank
StartupLatvia industry classification
Industry- Product category
- Government Startup Ecosystem Support Services
- NAICS
- Educational Support Services (61171), Professional and Management Development Training (61143)
- SIC
- Services-Educational Services (8200)
- akta.pro primary industry
- Youth Business Incubators & Accelerators (EDAMAHAC)
- akta.pro secondary industries
- Business Planning, Pitching & Competitions (Pitch Decks, Demo Days) (EDAMAHAB), Accelerators & Incubators (Investor-Operated) (FSANAAAM), Entrepreneurship Foundations & Startup Basics (EDAMAHAA), Entrepreneurship & Small Business Workforce Programs (EDAAAOAM), Corporate Accelerators & Startup Programs (FSANAHAD)
Keywords
Where StartupLatvia is headquartered
LocationHeadquarters
- HQ city
- Riga
- HQ country
- Latvia
- HQ region
- Europe
Offices1 record
Markets served
StartupLatvia business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Government-funded initiative: Startup Latvia operates as a non-profit government initiative funded by the Investment and Development Agency of Latvia (LIAA). Services are provided free of charge to startups.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Pay-as-you-go | Startup Visa application fee |
| One time/ perpetual license | One time | LLC with reduced equity registration |
| One time/ perpetual license | One time | LLC registration |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels4 records
StartupLatvia product offering
Product offeringCore offering
StartupLatvia (Magnetic Latvia Startup) is a government-supported informational portal and one-stop-shop initiative operated by the Investment and Development Agency of Latvia (LIAA). It provides non-EU and local startup founders with the Startup Visa temporary residence permit, Startup Law tax benefits, access to 13 Magnetic Latvia Business Incubators, concierge advisory services for company registration, and curated resources including legal templates and the Latvian Startup Guide. All services are provided free of charge as part of Latvia's publicly funded startup ecosystem initiative.
Product overview
StartupLatvia is a government-supported informational portal that serves as the primary resource for entrepreneurs looking to establish startups in Latvia. The offering consists of the main StartupLatvia Portal, the Welcome Pack (which bundles all startup support mechanisms), and several integrated sub-products including Startup Law Benefits (providing tax incentives and co-financing), Startup Visa (residence permit program), Magnetic Latvia Business Incubators (13 incubator locations across Latvia), Startup One-Stop-Shop (concierge service), and Resources/Templates. The platform does not offer software products but rather provides informational, administrative, and support services for the Latvian startup ecosystem.
Differentiator
Problem solved
Functional benefit
Products and services
- StartupLatvia Portal Government-supported informational portal providing guidance and resources for startup founders to launch, grow, and scale businesses in Latvia. The portal serves as a one-stop-shop for non-EU citizens and local entrepreneurs seeking to establish startups in Latvia and the EU.
- Welcome Pack Comprehensive package of government initiatives and support mechanisms for startups choosing Latvia as their home-base, divided into two categories: Money (funding and cost-saving opportunities) and Cool Stuff (visas and other startup benefits).
- Startup Visa (Temporary Residence Permit) Temporary residence permit (TRP) for non-EU startup founders, valid for up to 3 years (renewable annually), allowing up to 5 founders per business idea with family-inclusive provisions (spouse and children) and easy Schengen travel. Application fee is 100 EUR, processed within 30 business days via OCMA in Latvia or Latvian Embassies globally.
- Startup Law Benefits Government support mechanism offering eligible startups low flat social tax (EUR 340.90 per month per employee), waived income tax for employees, and 45% co-financing for highly qualified specialists, materially reducing early-stage employee costs.
- Magnetic Latvia Business Incubators 13 business incubators across Latvia offering pre-incubation (up to 6 months for idea-stage entrepreneurs) and incubation (up to 4 years for registered startups) support including mentorship, training, grants, and 50% co-financing for R&D services and equipment.
- Startup One-Stop-Shop Concierge Service Concierge advisory service providing guidance on the Latvian business environment, relocation assistance, and practical support for local and foreign startup founders through Magnetic Latvia Startup.
- Resources and Templates Library Comprehensive collection of downloadable templates and guides including Electronic ID card information, Latvian Startup Guide, model legal documents from Sorainen (shareholder agreements, option agreements), startup visa applications, fact sheets, and business guides for startup founders.
Quantifiable outcome
- 45% of employee costs returned to startups via government co-financing
- +4 more outcomes
Companies that use StartupLatvia
Customer profileNamed customers5 records
Segments3 records
Ideal customer profiles3 records
StartupLatvia technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
StartupLatvia partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core, major and minor.
- Investment and Development Agency of Latvia (LIAA)coreParent organization running Magnetic Latvia Startup initiative. Manages 14 business incubators across Latvia and one for creative industries. Provides foreign direct investment support and export opportunities.
- Startin.LV (Latvian Startup Association)corePrimary association representing startup interests in Latvia. Organizes ecosystem events including Startup V-day and provides community platform for founders.
- Startup Wise GuysmajorPrivate acceleration programme providing mentorship and support to early-stage startups.
- TechHub RigaminorMajor startup hub and co-working space in Riga. Offers legal address services for company registration for a fee.
- SorainenminorLaw firm providing free legal document templates (shareholder agreements, option agreements, etc.) for startups in English/Latvian.
- Swedbank, SEB, Luminor BankminorMajor Latvian banks providing business bank accounts and temporary accounts for company equity registration.
- Riga Technical UniversityminorPartnership with Adventum Tech for prototyping sensors. Universities also have in-house startup and entrepreneurship hubs.
Scale indicators3 records
Recent moves6 records
Expansion highlights4 records
StartupLatvia competitors and assessment
Company assessmentOthers
- Sorainen: Regional law firm operating across the Baltics and CEE that provides free legal templates to Startup Latvia founders. Relevant adjacent comparison as an enabling professional services partner within the same ecosystem rather than a direct competitor.
Broad incumbents
- Invest Lithuania: Lithuanian FDI and economic development agency operating at a broader mandate than Startup Lithuania; relevant comparison as a wider investment-promotion entity that includes startup ecosystem support within its portfolio.
- Enterprise Estonia (EAS): Estonian government agency providing broader business development, export, and FDI services that encompass Startup Estonia's narrower mandate. Comparable as a wider state-backed economic development organization.
Direct peers
- Startup Estonia: Government-backed Estonian initiative providing similar one-stop-shop services, startup visa support, and ecosystem-building programs targeting non-EU founders seeking EU market entry. Most direct peer given shared Baltic context, EU membership, and overlapping target persona.
- Startup Denmark: Danish government-backed initiative providing startup visa support and ecosystem services to international founders. Comparable as a smaller EU member-state startup hub competing in the same non-EU founder attraction market.
- Startup Lithuania: Lithuanian government-backed startup initiative operating accelerators (including Firstpick) and offering comparable visa and tax support for foreign founders in a neighboring Baltic EU member state. Closest geographic and structural competitor.
- Startup Portugal: Portuguese government-backed startup initiative offering comparable visa pathways (Tech Visa), tax incentives, and ecosystem support for non-EU founders seeking EU entry. Comparable as a southern EU member-state startup hub with similar programmatic structure.
Regional players
- Tech City UK: UK-based tech and startup ecosystem support organization (now part of Tech Nation legacy). Comparable as a national-level ecosystem builder, though operating in a post-Brexit non-EU context with different visa mechanics.
Emerging players
- Startup Wise Guys: Pan-European early-stage B2B accelerator with operations across CEE and the Baltics, including Latvia. Comparable as an investor-operated accelerator partnering with Startup Latvia to provide mentorship and capital.
- Buildit Accelerator: Publicly-funded hardware/IoT accelerator with Latvian roots and Baltic operations. Comparable as a regional hardware-focused accelerator embedded in the same ecosystem and referenced as a partner of Startup Latvia.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights5 records
Customer concentration
StartupLatvia social profiles
Digital presenceStartupLatvia financial estimates
Financial estimateRevenue estimate
Valuation estimate
StartupLatvia leadership team
Management profileNumber of profiles
Profiles1 record
StartupLatvia funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
StartupLatvia M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about StartupLatvia
What does StartupLatvia do?
StartupLatvia (Magnetic Latvia Startup) is a government-supported informational portal and one-stop-shop initiative operated by the Investment and Development Agency of Latvia (LIAA). It provides non-EU and local startup founders with the Startup Visa temporary residence permit, Startup Law tax benefits, access to 13 Magnetic Latvia Business Incubators, concierge advisory services for company registration, and curated resources including legal templates and the Latvian Startup Guide. All services are provided free of charge as part of Latvia's publicly funded startup ecosystem initiative.
Is StartupLatvia a public or private company?
StartupLatvia is a private company. It is classified as state government owned and is currently operating.
When was StartupLatvia founded?
StartupLatvia was founded in 2017. It employs 1 to 10 people.
Where is StartupLatvia based?
StartupLatvia is headquartered in Riga, Latvia, in the Europe region.
How does StartupLatvia make money?
One revenue line is on record: government-funded initiative.
Who are StartupLatvia's main competitors?
Sorainen is listed as an others. Broad incumbents are Invest Lithuania and Enterprise Estonia (EAS). Direct peers are Startup Estonia, Startup Denmark, Startup Lithuania and Startup Portugal. Tech City UK is listed as a regional player. Emerging players are Startup Wise Guys and Buildit Accelerator.
Does StartupLatvia have an API?
No public API is recorded for StartupLatvia.
What industry is StartupLatvia in?
StartupLatvia's product category is Government Startup Ecosystem Support Services. Its primary akta.pro industry code is EDAMAHAC, Youth Business Incubators & Accelerators, with a secondary code of EDAMAHAB, Business Planning, Pitching & Competitions (Pitch Decks, Demo Days). Its NAICS code is 61171 and its SIC code is 8200.