LIAA: ERAB Discussion Highlights Baltic’s Next Challenge – Turning Innovation into Growth
The Baltic states have proven their ability to innovate and attract investors, but the next step is to more quickly transform these advantages into economic growth and world-class companies.
The Baltic states have already demonstrated their capacity to generate innovation, attract investor attention, and build competitive companies. However, the next phase of development will be the ability to convert these advantages much more rapidly into economic growth, world-class enterprises, and investment projects. This conclusion emerged during a discussion organized by the Latvian Investment and Development Agency (LIAA) in collaboration with the European Bank for Reconstruction and Development (EBRD). Participants emphasized the need to accelerate the commercialization of innovations and foster the growth of high-value-added industries. The region must focus on more effectively leveraging existing innovations and talent to create new jobs and boost export potential. The discussion noted that while the Baltics have made significant progress in developing their startup ecosystems, more support is needed at the scaling stage to enable companies to grow into global leaders.
