2 Facts about Baltic Startups Ecosystem

I am always amazed by how Lithuanian startups world is growing and shaping the environment around me and eventually the world. This country is as little as bold and driven to bring out great things for all of us.

The Europe based accelerator Startup Wise Guys has recently published an easy to read report regarding Baltic startups scene that you can find here.  It has definitely picked my curiosity and diving in it I have found out a couple of interesting facts about Baltic startups.

1. ICOs are a big thing happening in Lithuania

In 2017 $500 million in value were raised, through 35 Initial Coin Offerings (ICOs). This means that the only two country with a larger amount of ICOs per capita were China and the US. It’s impressive to think that more than half of the total funds raised trough ICOs in 2017 was raised in such a small country (3 million inhabitants).

2. Did you know that E-residency can boost the economy?

Into the publication there is an entire article about E-residency in Estonia. Did you know that it is calculated that e-Residents have brought 14.4 million EUR to Estonia in net financial proceeds and indirect socio-economic net benefits? Additionally, benefits are expected to rise to 1.84 billion euros by 2025. 

If you are looking for easy reading material, usable infographics and you are curious to figure out what’s happening in here, giving a look to this report could help nurture your curiosity even further.

To the next!

[Source: Report on Baltic Startup Scene 2017/2018 by Startup Wise Guys & EIT Digital]

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