2020 has been a very rough year for almost everyone due to the COVID-19 pandemic. As countries around the world went into lockdown, economies cracked. The global stock market crashed, the G20 economics fell 3.4% YoY in the first three months, millions of job losses across the world, and more.
However, it seems that the Baltics have proved to be quite resilient to the pandemic. According to the 3rd annual Baltic Startup Scene report, although the Baltic startups witnessed a reduction in total funding in 2019, investor and startup optimism is rebounding. Survey insights along with funding data for this year indicate that 2020 H1 significantly outperforming 2019 H1 in terms of funding, even with the onset of a pandemic-induced economic downturn.