The Baltic states must move towards a unified economic and political identity
On Thursday, October 30, Latvian Prime Minister Evika Siliņa and Lithuanian Prime Minister Inga Ruginiene met with representatives of the Latvian Chamber of Commerce and Industry (LCCI) and the Lithuanian Chamber of Commerce, Industry and Crafts (ALCCIC), as well as representatives of entrepreneurs from both countries, focusing on the conclusions of the study “Baltic Tiger” and the idea of a joint global brand for the Baltic States.
During the meeting, the main conclusions of the study “Baltic Tiger” conducted by the Latvian Institute for Strategic and Economic Studies “LaSer” were presented. The author of the study, Professor Daunis Auers, pointed out that in order for the Baltic countries to maintain their growth rate and security stability, deeper integration is needed in four areas: defense, diplomacy, functional cooperation, and joint branding. The study shows that the potential of the Baltic region increases when the countries act as a single player rather than three separate economies. Closer integration and a shared economic vision can become the main drivers of growth in the region. The author also emphasized the importance of the Nordic countries’ experience—close cooperation and joint solutions have helped to strengthen economic and political stability.
“The economies of Latvia and Lithuania are closely linked, and we have ample opportunities to deepen cooperation, especially in the defense industry and the digital sector. With a more favorable environment for entrepreneurs, closer economic cooperation, and fewer bureaucratic obstacles, we can increase the international competitiveness of the Baltic region,” said Latvian Prime Minister Evika Siliņa.
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Originally published on 30 Oct
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German energy company Danpower Group is acquiring a majority stake in SW Energia OÜ, one of Estonia’s leading district heating providers, says the official press-release. Danpower Group is a Potsdam-based energy company specializing in district heating and renewable energy solutions for municipalities, industries, and residential areas across Germany and now Estonia.
The deal, signed on January 27, awaits approval from the Estonian Competition Authority and aims to accelerate the transition to renewable energy in Estonia’s heating sector.
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Originally published on 5 Feb
Viking Line is starting 2026 by renewing its offer of travel and transport powered by a high share of renewable European biogas. After multiplying the use of biofuel tenfold last year, the Åland-based shipping company has now secured another year at the same ambitious level.
The biogas is used alongside liquefied natural gas on the company’s newest ships, Viking Glory and Viking Grace, which operate daily between Turku and Stockholm. This combination results in very low sulphur and particle emissions, as well as a greatly reduced climate footprint.
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Originally published on 3 Feb
The author of the most promising idea in the business idea competition at this year’s Icebreakers’26 business opportunity festival will receive €10,000 to support the development of their entrepreneurial venture.
Icebreakers’26 will take place at the University of Latvia’s (UL) House of Science in Torņakalns on March 5. The festival’s central theme is “Change the Rules of the Game,” accentuating the audacity to think and act differently in order to create innovations and develop entrepreneurial skills. It is a theme that encourages participants to challenge conventions, step out of their comfort zones, and seek new solutions that drive change in business, research, and society. It encourages the use of knowledge, creativity, and collaboration as a foundation for sustainable development—and participants to not merely follow trends, but actually change the rules of the game.
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Originally published on 4 Feb
Lithuanian capital markets infrastructure provider Axiology has secured €5 million in seed funding to expand its regulated, blockchain-based platform for issuing, trading, and settling securities across Europe. The investment will support the rollout of new tokenised securities capabilities under the EU DLT Pilot Regime and accelerate the company’s go-to-market strategy.
The funding round was led by Exponential Science, e2vc, and Coinvest Capital, with participation from TIBAS Ventures and Plug and Play. Existing investors, including BSV Ventures, NGL Ventures, and others, also joined the round. To date, Axiology has raised €7 million in total.
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Originally published on 4 Feb
At a media event hosted today by the Investment and Development Agency of Latvia, it was announced that the Slovenia‑based energy company NGEN Group is entering the Latvian market with a €50 million investment.
According to information provided by investors, a deal has been concluded whereby NGEN Group has become the 100% owner of SIA “Liepāja ESS” to implement a stand-alone grid-connected battery energy storage project with a capacity of 100 MW and a storage capacity of 200 MWh in Grobiņa parish, Dienvidkurzeme region, at the Grobiņa substation. Construction work is planned to be completed this year.
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Originally published on 3 Feb
To secure the status of Europe’s frontier DefenceTech destination, Estonia is moving fast, and is now building a pipeline for defence startups to win major international funding. Estonia’s Ministry of Defence, in collaboration with the Ministry of Economic Affairs and Communications, has established a pre-accelerator programme called the Defence Business Lab, according to the official press release.
Designed to help local companies compete more effectively in major international defence funding competitions, the programme aims to prepare early-stage development teams for successful applications to NATO DIANA (Defence Innovation Accelerator for the North Atlantic) and the European Defence Fund (EDF), two significant sources of defence funding.
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Originally published on 2 Feb
Innovation in Finland defines the way business operates. The country fosters ecosystems where global players connect, and technology leadership spans AI, connectivity, electrification, and defense. For international investors and partners, Finland offers advanced solutions and a collaborative model that accelerates impact.
“We are living in an AI supercycle,” notes Nokia’s Veli-Pekka Luoma, emphasizing Finland’s shift from connecting people to connecting intelligence. This vision is backed by robust infrastructure, cutting-edge R&D, and a commitment to sustainability.
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Originally published on 2 Feb
Enersense has signed an agreement with Lithuania’s VŠĮ Plačiajuostis Internetas, the state-owned organisation responsible for developing Lithuania’s broadband infrastructure, for the design and construction of telecommunications towers. The towers form part of Lithuania’s nationwide programme to expand high-speed broadband infrastructure.
The towers are steel lattice communication structures that form part of Lithuania’s essential digital infrastructure.
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Originally published on 29 Jan
Cast AI, the leading Application Performance Automation platform valued at over $1 billion, today announced it has won the European AI Award 2025 in the AI Business category. The award, presented by the European AI Forum (AIEF), recognizes outstanding achievements in AI that are shaping business, science, policy, investment, and ecosystem development across Europe.
Cast AI was honored for its platform that automates AI application performance in Kubernetes environments, delivering significant cost optimization and operational efficiency. The company was one of only three winners selected in the AI Business category, chosen from nominees across the continent for their contributions to economic growth, industrial competitiveness, and societal benefits through AI.
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Originally published on 2 Feb
We are proud to announce that the Latvian Association of Artificial Intelligence (MILA) has officially joined the Apply AI Alliance Stakeholders’ Catalogue.
This catalogue serves as the European Commission’s “official phonebook” of trusted organizations. It is the primary resource used by the Commission to identify stakeholders for shaping AI policy, participating in sectoral workshops, and attending annual AI Office gatherings.
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Originally published on 2 Feb