Smartphones, e-mobility, Internet of Things (IoT) ââ?¬â?? our world is situated in the middle of\ndigitalization, product life cycles are short and innovations are particularly welcome in the\ninformation technology (IT) industry, as they imply a great opportunity for lucrative businesses.\nIn particular, innovative start-up companies are playing an increasingly important\nrole in this context. However, a strict consideration of country-specific circumstances (Germany\nand Latvia have been selected as examples) has to be made to evaluate founding culture.\nThe following paper focusses on these issues in different ways and gives an insight of\nthe entrepreneurial situation in the respective countries to the reader in the way how different\ncircumstances affect start-ups and how the future development in the countries\nshould be. The results show that ââ?¬â?? besides Germany ââ?¬â?? Latvia also portrays a very attractive\nmarket with even hidden potential for IT start-ups.
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