Vice President introduces the growing innovation ecosystem in the Baltic States

On 12 June 2026, the Baltic Assembly participated in the Session of the Benelux Parliament dedicated to innovative entrepreneurship and intellectual property in Luxembourg, where representatives of the Benelux Parliament, the Nordic Council, and growing companies discussed their best practices and views on cooperation in this area. 

Vice President of the Baltic Assembly, Giedrius Drukteinis, introduced the Baltic startup ecosystem, which has become one of the most dynamic in Europe, and figures show that the Baltic States have created a strong environment for entrepreneurship. In 2024, while European startup funding decreased by 5%, the Baltic States together recorded an over 10% boost in publicly announced funding. Most importantly, more than 80% of this funding came from foreign investors. Deep tech is also becoming a major strength of the region. In just four years, the value of Baltic deep tech startups grew 2.8 times. No comparable European region matched Baltic growth. The only benchmark that came close to our growth was the United States.

It was highlighted that innovation is also closely linked with security. This is especially important for the Baltic States, as the region is constantly facing information warfare and hybrid threats. Now also including redirected drones due to Russia's ongoing aggression against Ukraine. To develop this resilience, the Baltic States have steadily increased investments in innovative defence technologies. 

Additionally, he introduced a great example of the Baltic Assembly’s work in this field: the Baltic Innovation Prize. Established by the Baltic Assembly in 2010, the Prize is awarded annually to the most innovative company in the Baltic States. It recognises entrepreneurs who have successfully introduced new products, services, or business models to the market. It also helps present these companies as examples for others and strengthens cooperation.

“As we look to the future, cooperation with partners such as the Benelux countries will always be essential. By working together and sharing best practices, we can make Europe more competitive and resilient through innovation,” he concluded. 

The Baltic Assembly at the Session was represented by Vice Presidents Giedrius Drukteinis and Jānis Vucāns, and Member of the Presidium Enn Eesmaa. 

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