Latvia will receive advisory support from the European Investment Bank (EIB) on how to promote technological innovation and help high-growth companies scale up.
The work will be carried out with Latvia’s Ministry of Economics and the Investment and Development Agency of Latvia, the EIB revealed on Tuesday.
EIB experts will review how Latvian businesses, research institutions and emerging technologies are currently supported, and identify where policy and financing could be strengthened.
The advisory project is due to run until the end of 2026, and will also examine opportunities for closer alignment with Estonia and Lithuania on Baltic-wide initiatives.
Latvia’s startup sector has been expanding, with about 560 companies generating more than €600 million in turnover and employing over 5,000 people at the end of 2025, new figures from the European Investment Bank show.
The bank said access to early-stage and scale-up financing in Latvia “remains uneven”, while deep-tech and science-based firms face hurdles when expanding internationally.
University plan included in pilot assessment
As part of the work, the EIB will run a capacity-building programme for parts of Latvia’s innovation ecosystem, including public authorities working on innovation and economic development, it said.
Riga Technical University’s development plan will be assessed as a pilot example of how major university investments can support national innovation and economic development goals.
The outcome will be a set of recommendations and a roadmap for Latvia’s innovation system, with the work delivered under the InvestEU programme’s Advisory Hub — a European Union initiative that provides advisory support for investment projects.
