“If I only had one message to put out, I’d say “Shit got real” for startups in Latvia” — Ernests Štāls proudly states in a TechChill 2017 fireside chat dubbed “Baltic State of Mind” where representatives of all three Baltic countries participated.
Sporting a fly AirDog cap — a homage to the Latvian startup success story, Ernests names the Startup Law as the biggest thing to happen in Latvia in the past year.
“I think what you do is cute” – Ernests references the Estonian and Lithuanian stories shared beforehand – “but we got the Startup Law”, he laughs off.
Indeed, the innovative changes in Latvian legislation were made in November 2016, introducing the new tax regime, unique to whole Europe. When the Parliament passed the startup law, it was quite a buzz. The Latvian Startup Association — another “important thing” Ernests Štāls mentions, was one of the key organizations behind the proposal to the law, which entered in force January 1, 2017.
— Lexxus Borovenskis (@Lexxus) February 10, 2017
“The Startup Law is the end result of different initiatives” – Ernests added, stressing the importance of government involvement, the role of the Association and overall interest in the startup ecosystem that is sparking up, including from the likes of corporate folk that could be seen flashing executive badges during the two days of TechChill.
Signed by the President of Latvia, Raimonds Vējonis, the Startup Law is now translated in English. But when Mr. President honors with his visit and opens a startup conference, then you know for a fact that — shit got real around here.
— TechChill (@TechChill) February 10, 2017