Latvia's Drone Industry Fights for Funding Despite Robotics Lead
Latvia's drone industry, led by start-ups, faces funding hurdles despite its niche in robotics and export potential. The Military Technology, Drone and Robotics Association (MilTech), established a year ago, is working to overcome challenges and maintain Latvia's lead in drone development.
Many Latvian drone manufacturers are start-ups struggling to secure funding without orders. They desire longer-term, larger-scale purchases from the National Armed Forces to sustain growth. Artis Pabriks, a prominent figure in the industry, has identified bureaucracy, slow procurement, and access to funding as key challenges for the industry's growth.
To address these issues, a state venture capital fund is being set up to facilitate access to finance for drone companies. Pabriks also calls for the Latvian government to remove legislative barriers, enhance financial support mechanisms, and improve cooperation between the military and industry.
MilTech, now with over 30 members representing about 90% of Latvia's drone manufacturers, aims to maintain Latvia's drone niche. The association's active involvement, along with the government's support, is crucial for the industry's development and export potential.
Latvia's drone industry, particularly in robotics, has significant export potential and is ahead of some Western countries in development and production. To fully realise this potential, the industry needs active involvement from the country and the Military Technology, Drone and Robotics Association, along with supportive policies from the Latvian government.
