Abstract:

Smartphones, e-mobility, Internet of Things (IoT) – our world is situated in the middle of digitalization, product life cycles are short and innovations are particularly welcome in the information technology (IT) industry, as they imply a great opportunity for lucrative busi-nesses. In particular, innovative start-up companies are playing an increasingly important role in this context. However, a strict consideration of country-specific circumstances (Germany and Latvia have been selected as examples) has to be made to evaluate founding culture. The following paper focusses on these issues in different ways and gives an insight of the entre-preneurial situation in the respective countries to the reader in the way how different circum-stances affect start-ups and how the future development in the countries could be. The results show, that – besides Germany – Latvia also portrays a very attractive market with even hid-den potential for IT start-ups.