RIGA, May 7 (LETA) - The Riga City Council has signed an agreement with TechHub Riga on co-financing activities of start-ups, LETA learned from the Riga City Council communication department.

TechHub underscored that its goal is to promote development of the civic society and ensure growth of scientific and technological start-ups with high added value, their professional performance and results in development, support of the start-up ecosystem.

In order to improve Riga's economic and technological competitiveness, the local government wants to support operations of the start-up ecosystem, promote development and diversity of start-ups. Signing of the agreement with TechHub is one of the first steps in the planned activities, said Riga City Council city development committee chairwoman Inese Andersone (New Unity).

As reported, in early March, a memorandum on support to Riga start-up ecosystem has been signed, and the city's development committee decided to allocate EUR 161,000 for support to start-ups and smart city solutions. Of this sum, EUR 80,000 will be co-financing to events organized by TechHub and its partner organizations Startin latvia, Techchill and Riga Tech Girls.