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Riga the capital of latvia has a rich history of entrepreneurship dating back to the 19th century known for its beautiful old town and its location at the crossroads of the baltic states riga has a population of around 700000 people and is considered the largest city in the baltic region the riga startup scene has seen a significant growth in recent years with a focus on technology and innovation companies such as infogram and nordigen have made waves in the tech industry while others like as avotu iela and airdog have gained international recognition despite the citys thriving startup scene the local economy still struggles with high unemployment and a low living wage the average monthly salary in riga is around 840 while the unemployment rate hovers around 10 the citys gdp however has been steadily increasing reaching 16 billion in 2019 local universities such as the riga technical university and the university of latvia play a crucial role in the development of the startup scene fostering innovation and collaboration between students entrepreneurs and businesses in recent years the riga startup scene has faced challenges including a lack of investment and limited access to capital despite these obstacles the citys thriving startup scene continues to grow and evolve attracting international talent and investors in conclusion rigas rich history of entrepreneurship thriving startup scene and focus on innovation make it a unique and exciting place for entrepreneurs and startups while the city still faces challenges its potential for growth and success makes it a promising destination for those looking to launch their next big idea
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