2020 REPORT:
BALTIC STARTUP SCENE

What happened in the Baltics in 2020, and what opportunities lay ahead?
Largest-ever Baltic startup report launched – startups defy the odds with a better-than-expected year!

About the Baltic Startup Scene Report

For investors, startup founders and Baltic ecosystem builders, the Baltic Startup Scene Report is the go-to-place for an aggregated, qualitative and comprehensive data-backed outlook of the Baltic startup scene and investment opportunities in the Baltics.

It is a collection of various data sources and angles of the startup ecosystems within the Baltic states. The report dives deeper into essential topics such as Baltic startup investments and startups to watch, most prominent investment deals, startup visa regulations, digitalization in the region, corporate innovation, and much more.

In 2020, we’re thrilled to bring you the third edition: Largest-ever the Baltic Startup Scene Report 2019/2020 in collaboration with EIT Digital. The report is available to download now!

What will you find in the 2020 Report?

For Investors

150 Startups to Watch list in SaaS, Fintech, Sustainability, Medtech, Cyber, and other verticals, as well as the Biggest deals of the year and a new comment – Spotted Startups.

For Startups

Top VC funds investing in Baltic founders, Best European startup visa regimes for non-EU founders, and Life and business costs in cities across Europe.

For Ecosystem

Tech events in the Baltics, the new hybrid working model, and remote work challenges, including its impact on mental health. Plus a first-time in-depth look into the diversity topic.

150 Baltic Startups to Watch list

This is the third year we’re taking a deeper look into Baltic Startups to Watch as part of the Report. Reviewing 450+ Baltic startups, we have listed 150 startups in 6 verticals that deserve your attention. Our content partners Crunchbase have provided additional data for a more in-depth analysis, and our set of experts and partners have helped create this curated list.
Download the list

Startup Scene Survey: Deep dives

This year’s Baltic startup scene report has been built with a new ingredient – the Baltic Startup Scene survey. It has been conducted for the first time to gather a more tailored insight into 2020 and the startup scene’s outlook ahead.

The insights drawn from the survey provided a valuable base for further investigation of several major topics emerging from the past year’s global events, such as hybrid work, the impact of Covid-19, the outlook ahead, and more. To explore the more in-depth analysis of these topics, read the “deep dives” at the end of the report.

Hear from our readers

James York

Director of US Business & Innovation
Enterprise Estonia
The Baltic Startup Report is one of those invaluable tools available to us in our work abroad, on behalf of Estonia. It’s one thing to talk about the Estonian Startup scene and it’s place in the broader Baltic ecosystem, and how innovative this community is. It’s quite another to be able to share a comprehensive and in-depth overview of all the players, sector news, and data with our network of investors and business people on the ground in New York, and the US at large.

Johanna-Mai Riismaa

CEO
Zelos Team Management
The report gives us a valuable reality check against other companies going through the same startup struggles. It’s also a wonderful cheat sheet for information and ideas when navigating the environment as an Estonian startup!

Ieva Treija

Founder & Host
Baltic Startup Mafia podcast
Despite the fact that we are three small countries here in Baltics, each of us has a big heart. We are so focused on our own success that it is hard to get full picture of how startups are doing in the whole region. And this is what people from outside are looking at – they are seeing to Baltic countries as one region. Baltic Startup Scene Report team is doing an excellent job by picking the most important pieces of each ecosystem and putting them together thus providing access to the whole picture each year.

Askar Aituov

CTO
ClickLog
The report provided a systematic view on: 1. sources of investment (VC, accelerators); 2. talents & tech events ranging from UX to DeepTech; 3. living tips, drilling down even to the grocery pricing across the Baltics cities. For me, as a Non-EU Deep tech project founder this Report is a unique single source of high-quality info-handbook. Since this kind of information is usually disparate.

Ecosystem partners

Companies, organisations or government institutions supporting and enabling Baltic ecosystem growth 

Content partners

Companies or organisation supporting the research

Baltic Startup Scene report
in the media

Interested in writing about the Baltic startup scene? Become a media partner, reach out for an exclusive 2020 report findings and report communication. 

For media

Read in our blog

The Baltics – small, but mighty

By Luize SilaOn December 14, 2020

Barely 6 million inhabitants, but already 6 startup unicorns – that’s the story of Baltics, this small region by the Baltic sea with tech-savvy people, who like to...

Diversity in startup ecosystems

By Luize SilaOn December 9, 2020

It might seem like there are more and more women founders and investors in the startup world, and that there are more initiatives than ever to bring women into the tech scene....

Baltic startup funding and the pandemic: for...

By Luize SilaOn November 20, 2020

You might think that the global pandemic has hit startup funding very hard. While there for sure was some stalling in March and April, actually the first half of the year in 2019...

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Previous reports

2018/2019

2017/2018