The week of February 1 thru 5 witnessed the largest event for startups in Europe — the Startup Europe Week, and Riga was one of the 250+ host cities with a meetup at Nordic Club House Thursday.
An initiative of Startup Europe/European Commission and organized by Startup Nest locally, Startup Europe Week Riga was aimed at gathering entrepreneurs and startup enthusiasts alike to speak about opportunities, challenges and solutions that young and aspiring businesses are facing both in Latvia and on European level.
It’s very important that all European regions meet and address the solutions to the challenges Europeans face when starting up and expanding.
Some of the issues include access to funds and finance, different taxes and legislation from country to country, unknown markets, language and mentality barriers, talent hunting, just to name a few.
Many global initiatives have been created to look at those problems and celebrate entrepreneurship. Typically, such events follow the Silicon Valley format (keynote motivational speeches, networking sessions etc).
But, as organisers stress out — Europe is different and requires something more when it comes to starting a business.
Regional diversity and local policy making play a big role in shaping European startups. European regions are key players, from helping entrepreneurs to incorporate a company, to providing grants or taxes breaks.
At the event in Riga, startups have discussed the coworking opportunities with TechHub Riga and the necessity to attend events and build community. Kristīne Korņilova of TechHub Riga also presented about Startupreneurs — and exciting exchange program for new and existing startups.
Later in the evening, Alex Zelinsky, a serial entrepreneur and current COO of the real estate startup Rention presented about his experience in building a successful business and expanding to various countries around Europe. The appearance sparked long discussion about the challenges startups face in new markets: from different people mentalities, sales approach to taxes and legislation.
Startup Europe Week Riga was concluded with a nice networking, music and some fabulous desserts.
