UnicornQuest in Latvia: Startup Insights Across Borders

WestBIC is an Enterprise Ireland partner providing hands-on startup support, funding readiness and investment preparation for early-stage founders in the west of Ireland.

22nd May 2025

Last week, we joined partners and stakeholders from across Europe in Latvia for the fifth Interregional Learning Event of the UnicornQuest | Interreg Europe project. Hosted by Zemgale Planning Region, the two-day event (May 14–15) took place across Jelgava, Jurmala, and Riga, focusing on how we can better support startups and innovation at the regional level.

Cross-Border Collaboration

Held in the beautiful Jelgava Palace, the event kicked off with welcomes and presentations from national and regional bodies including Startin.lv, the Ministry of Economy, and Jelgava Municipality. A key highlight was the Policy Improvement Workshop, where we delved deeper into the project learnings and potential for inter-regional transfer, inspired by the good practices and exchanges to date from across partner regions, exploring how regions can support entrepreneurship, retain and develop talent and foster high-growth startups.

Real-World Examples

We visited the LIAA Business Incubator to learn about startup funding and support services, followed by live pitches from Latvian startups. At LBTU Innovation Labs, we saw how academia and entrepreneurship are working hand in hand.
A networking dinner wrapped up a full and productive Day 1.

Community at the Core

Day 2 brought us to Startup House Riga — a hub of entrepreneurship activity and collaboration. From peer mentoring to founder-led investing, we saw what makes this community thrive. Programs like StartSchool and LIAA’s voucher-based funding demonstrate how Latvia supports startups through every stage — from idea to scale.

We also took inspiration from Estonia’s ecosystem presented by Estonian’s Embassy delegation, particularly its Startup Law, tax incentives, and tight-knit founder networks.

What We Took Home

The trip left us re-energised and full of policy-improvements ideas and pointers, reaffirming that clear policy and legal frameworks are vital for startup growth, while targeted incentives are key to attracting and retaining talent.

We also saw the value of leveraging local knowledge and networks, and the importance of nurturing strong, connected communities where innovation can thrive. UnicornQuest continues to be a valuable platform for learning from our peers aimed at strengthening startup ecosystems across Europe to foster the next generation of high growth enterprises with unicorn potential.

For more information on UnicornQuest visit https://www.interregeurope.eu/unicornquest