Startup House Riga to expand - imminently relocating to two buildings in Spīķeri

In just 18 months, Startup House Riga in Spīķeri has become too small for the growing startup community. This autumn, some startups that have expanded their teams will move to new office space. They will be joined by other startups currently renting elsewhere in the city. Meanwhile, newcomers to the startup scene are already lining up to occupy the smaller office spaces.

Currently, Startup House Riga is home to 60 organisations, including six investors. The existing space is fully occupied. It has become a truly international environment, with professionals from the Baltics, Germany, Italy, Greece, the Middle East, and even Argentina, Ecuador, and the United States working there.

“A strong community, support, and being surrounded by like-minded people have always been among the keys to startup success. From day one, we’ve taken responsibility for all the daily practicalities so that startups can focus on what matters most — growing their business,” says Startup House Riga CEO Kristians Jenčiuss.

He adds that, over the past 18 months, startups from the Startup House Riga community have managed to attract €7 million in investments.

A dedicated hub for the startup ecosystem

Startup House Riga was opened last year as a centre dedicated to innovation, collaboration, and growth — a space for the Latvian startup community to develop and thrive in. The non-profit centre was founded by Printify co-founder Jānis Berdigans and the foundation TechHub Riga.

Since its launch, the Startup House Riga team has organised 400 events, most of which have been open to the public. This gives everyone the opportunity to connect with like-minded individuals and to expand their network.

“That’s also the goal — Startup House Riga should be a vibrant and creative community of bold people, who inspire interest in entrepreneurship and encourage others to start their own businesses. Only together can we make Latvia stronger and stimulate its economy. The large number of applications to StartSchool shows that we are not only achieving this goal but simultaneously sparking entrepreneurial interest among more and more young people. We’re eagerly looking forward to the first graduation in August,” says Berdigans.

Support from the municipality

Last year, the Riga Investment and Tourism Agency launched a new investment support initiative called the Startup House Support Programme. TechHub Riga received the highest score in the competition and secured support to fulfil its vision of becoming Latvia’s leading innovation and entrepreneurship hub over the next three years, providing startups with the necessary support, knowledge, networking, and collaboration opportunities.

“The Startup House is a crucial next step in developing the startup ecosystem in Riga. I’m confident that this facility will provide a stable and innovative platform to foster startup growth and development in our city. Riga will continue to actively support the startup sector,” believes Fredis Bikovs, Managing Director of the Riga Investment and Tourism Agency.

The agency has signed a 36-month agreement with TechHub Riga, providing €150,000 in co-financing each year to implement the proposed plan. The capital plans to invest a total of €450,000 over three years through this programme.

With this support, the startup hub developer is expected to assist at least 10 startups during the first year, and at least 15 during each of the second and third years respectively. Startups will receive the co-financing in various non-monetary forms, depending on the vision and offerings of the startup centre operator. These could include subsidised workspace, access to mentors, networking events with experienced founders and investors, and other forms of support to help accelerate startup growth, boost competitiveness, and attract further investment.

Although this kind of support has been mooted previously, its manifestation in practice has been hindered by certain factors. For instance, as Bikovs notes, “Unfortunately, the process is time-consuming from a bureaucratic perspective.”