Your future is in the Baltics!
The AHK Baltic States has more than 20 years of expertise in the field of market development and partner search in the Baltic markets. The Chamber of Commerce maintains close contacts with the startup ecosystems in all three countries and in 2017, for example, organised the world's first delegation trip of German IT startups organised by an AHK as part of the BMWi market development programme. As part of this programme, the AHK accompanied eight German start-ups to the three Baltic states and arranged more than 100 individual matchmaking meetings. In view of these current activities, there are also good connections to the local multipliers as well as a high level of market knowledge on the part of the AHK, which is also reflected in the Chamber of Commerce's corresponding target market analyses for each of the three Baltic countries.
Start-up screening includes the following services:
- You receive a permanent, German-speaking contact person for the entire duration of the project.
- We provide you with a neutral, realistic assessment of the startup ecosystem and the participants eligible for the selection process.
- The creation of a shortlist with profiles of potential partners is generally finalised within a period of 20 working days from the start of the project.
Each of the three Baltic states has its strengths:
Tallinn, Estonia
Riga, Latvia
Vilnius, Lithuania
Estonia
Estonia is considered a model nation in Europe when it comes to digitalisation and eGovernment. This reputation is more than justified. Around 96.3% of the population declare their income online within a few minutes, 99.6% of bank transactions are processed electronically and 99% of prescriptions are issued online. The Estonian state provides over 2,400 state services online. This benefits companies in particular.
Estonia has the highest number of start-ups per capita in the EU. Many of the ideas are successful. With Skype, Taxify, Transferwise and Playtech, Estonia has produced four large companies whose market value today exceeds one billion euros - the highest ‘unicorn rate’ per capita in the world!
Thematic focus: eGovernment, cyber security, eHealth, start-ups
Latvia
As the centre of the Baltic States, Latvia benefits from an excellent logistical location. With around 700,000 inhabitants, the sophisticated Latvian capital Riga is not only the largest city in the Baltic states, but also their most important trade and service centre.
The most important industrial sectors include wood and paper processing, mechanical engineering and vehicle construction, the food industry (especially milk, meat and fish processing, beverages), textiles and metal production. Latvia has also become increasingly attractive to foreign investors in recent years - more than EUR 350 million was invested by German investors in 2019.
Thematic focus areas: IT services, forestry and agriculture
Lithuania
Lithuania scores highly with its strong industrial sector. All industrial companies find excellent conditions for their activities in the ‘free economic zones’ (fez). For example, automotive supplier Continental opened a state-of-the-art factory near Kaunas on 10 October 2019. Lithuania is and remains a favourite for outsourcing in Europe due to its favourable framework conditions. But the country is also considered a pioneer when it comes to digitalisation.
Blockchain technology in particular deserves a mention here. The ‘Blockchain Centre Vilnius’ offers entrepreneurs from all over the world the opportunity to share their ideas and knowledge. Lithuania is therefore ideally equipped for the future!
Thematic focus areas: Blockchain, Outsourcing