Latvia's startup scene is booming. The 2025 Latvian Startup Report reveals 569 active startups generated €610.5M in 2024, up 15% YoY, with deeptech leading investment at €78M.
The Context
Latvia's startup ecosystem, though nascent, shows strong growth, driven by deeptech innovation. Startin.LV's report highlights increasing turnover, tax contributions (€110.4M), and average salaries (€2,820). Aerones' €54M investment signals rising international interest. The sector aims for sustainable development through ecosystem collaboration.
Rights & Brands, licensors of Moomin and Pippi Longstocking, partner with Swedish TrusTrace for supply chain transparency. The platform monitors manufacturing, ensuring ethical production by mid-2026.
The Context
TrusTrace offers a platform for supply chain traceability and compliance, crucial amid tightening EU regulations (Digital Product Passports). Rights & Brands aims to ensure ethical manufacturing across its licensing network. This move follows increasing demand for transparency in fashion and consumer goods.
A Finnish engineer built a 21.5 kWh battery pack into his EV's trunk, extending its lifespan by 10-15 years. This DIY project highlights potential for extending electric vehicle usability.
The Context
This project showcases innovation driven by concerns over EV battery longevity and cost of replacement. As the EV market matures, solutions for extending battery life and reducing waste are increasingly relevant. Independent engineering initiatives like this contribute to the circular economy.
Finland's newest supercomputer, Roihu, is operational at a UPM's former paper mill, consuming 1 MW of power. Boasting an impressive 187,152 computing cores, Roihu represents a substantial increase in Finland's high-performance computing capabilities, positioning the nation for advancements across various scientific and industrial domains.
The Context
The decision to house Roihu in a repurposed paper mill underscores a growing emphasis on sustainable practices within the tech industry. Utilizing existing infrastructure minimizes environmental impact and exemplifies resource efficiency. Supercomputers are crucial for modern research, artificial intelligence development, and executing complex simulations that are impossible to perform with conventional computers. Finland's strategic investment in high-performance computing reflects a commitment to innovation and positions the nation as a competitive player in the global technology landscape. This move strengthens its ability to participate in cutting-edge research and development projects.
The European Union is making headway in establishing trade agreements with both Mercosur (Argentina, Brazil, Paraguay, and Uruguay) and India, potentially unlocking significant new markets for Finnish technology companies. These agreements aim to reduce or eliminate tariffs and other trade barriers, thereby facilitating increased trade flows. While the deals are progressing, they are subject to ongoing debates and ratification processes within the EU member states and the involved countries.
The Context
These trade agreements are a key component of the EU's broader strategy to diversify its trade relationships beyond its traditional partners and to strengthen its position as a major global economic player. The Mercosur agreement, despite facing some political and environmental concerns, represents a potentially vast market of over 260 million consumers. The agreement with India specifically targets sectors relevant to technology, digital trade, and intellectual property, aligning with the EU's focus on boosting its competitiveness in these crucial areas. Securing access to these large and growing markets is seen as vital for the long-term economic prosperity and strategic autonomy of the European Union and its member states.