Baltic States ranked among the top 50 best countries to found a startup

According to the StartupBlink Global Startup Ecosystem Index 2024, the Baltic States ranked among the top 50 best countries to found a startup. Estonia became a leader in the Baltics, taking 12th place, moving up two places from last year. Lithuania also moved up one place to 16th in the ranking. Latvia has dropped eight places to 47th.

In the top 1000 cities rank, Tallinn moved up 5 places to 55th position. The Estonian capital was ranked 19th among the world's cities for its successful startups in the transport sector. The city also outperformed in the blockchain and cryptocurrency industries, ranking 9th in the world for both.

The Lithuanian capital Vilnius got 71st place in the top 1000 cities rank, and it also became 11th in the list of cities with successful operating startups in the cybersecurity sector. 

Riga is ranked 186th in the world and 41st in the list of cities with successful startups in 3D printing. At the same time, it is ranked 15th in the 3D Printing industry in Europe.

StartupBlink also noted the state of startup funding in 2023, where Estonia saw 118 deals and $0,5 Bln of funding. Lithuania saw 59 deals with over $173,5M of investment. And Latvia saw 20 deals with over $20,3M of investments. 

Based in Israel, StartupBlink is the global startup ecosystem map and research center. It ranks the startup ecosystems of more than 1K cities and 100 countries and analyses the potential of the world's countries to establish and develop successful startups. The founder and CEO of StartupBlink is Eli David.