The report paints a vibrant picture of the region’s Deep Tech, AI, and Climate Tech startup landscape.
Co-authored by dealroom.co and Iron Wolf Capital, with contributions from Startup Estonia, Commercialization Reactor, and WALLESS, the report unveils key insights into the ecosystem’s rapid growth and growing investor interest.
The report delivers a current snapshot of the 2024 startup and investment landscape in the Baltic region. By placing these insights alongside data from 2023 and a five-year historical trend, the report established patterns that are shaping the market.
While the spotlight is on Deep Tech and AI companies, the report also examines the critical infrastructure supporting these advancements, including universities, spinoffs, and emerging tech hubs in key cities.
“This year’s report highlights the thriving ecosystem of Deep Tech, AI, and Climate Tech startups. Investments are growing and the value created is growing even faster. Amazing companies are being built. Marking a significant shift from the previous edition, we exclusively examined a list of over 100 “AI-first” companies in the region that are building products at the forefront of technological advancements,” added Kasparas Jurgelionis, Managing Partner at Iron Wolf Capital.
In addition to the specific focus on the deep tech startup ecosystem and funding developments, the report takes a broader look at each of the Baltic states’ individual startup ecosystems, highlighting the existing as well as future unicorns and noteworthy university spinouts.
“Latvia is quickly becoming a key player in the deep tech sector, thanks to its strong emphasis on scientific innovation and reaching global markets. The country is focusing on exciting areas like smart materials, biomedicine, smart energy, ICT hardware, and bioeconomics,” said Ilona Gulchak and Anton Adamovitch from Commercialization Reactor.
“For this growth to continue, it’s crucial to continue building a supportive ecosystem that should effectively address challenges like funding, attracting talent, and connection to industry.”
The complete Baltic Deep Tech Report can be accessed and downloaded from Dealroom.co’s website here.
