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PUTTING KEYWORDS TOGETHER IN INNOVATION ECOSYSTEM

Explore Latvia's innovation ecosystem focusing on energy efficiency & entrepreneurship, with EU funding, support programs, and green industry initiatives. Learn about technology transfer, funding schemes, incubators, and motivating innovation for SME competitiveness. Discover how bootstrapping and venture capital play key roles in innovation acceleration and market readiness.

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PUTTING KEYWORDS TOGETHER IN INNOVATION ECOSYSTEM

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  1. PUTTING KEYWORDS TOGETHER IN INNOVATION ECOSYSTEM CountryReport LATVIA Kaunas, LITHUANIA May 28-29, 2015

  2. EU FUNDING MoE LV Entrepreneurship and Energy Efficiency 2014 - 2020 764.15 m€ INNOVATION ENERGY EFFICIENCY 193.5 m SME COMPETITIVENESS 333.55 m 237.1m Innovation vouchers 7 31 49.5 Business Incubators Technology Transfer 61.4 Access to Finance (loans, guaranties) 102,3 6.2 Living houses – 150m Public buildings – 97.8m Industrial buildings–32,5m Advanced heating systems – 53,2m Centers of Competence Clusters 21,7 Industrial zones 4.8 20 Innovation Motivation Technology Acceleration 31,8 29.9 Foreign markets Training 45 Venture Capital

  3. TRL 7 Products ready formarket TRL 1 Applied research TRL 6 Prototyping TRL 5 Tehnologydemonstra-tion TRL 2 Feasibility studies TRL 3 Technology validation in laboratories TRL 8 Implemen-tation TRL 4 Technology validation in operation INNOVATION SUPPORT PROGRAMMES Centers of Competence and Innovation Vouchers Technology Transfer Platform • Financial instruments to support implementation of new products and technologies MoE LV

  4. REGIONAL BUSINESS INCUBATORS 2015-2020 Objective – support establishment of new viable and competitive companies and creation of new jobs - EU funding - 25 mil. € • Maximum for each planning region 5 mil. € • Duration - 5 years • Public procurement • Tender for each region • One incubator in the region (regional branches are permitted) MoE LV

  5. MoE LV

  6. INDICATIVE FINANCING SCHEME • Operation management - 1,7 mil. € : • Direct and indirect administrative costs not related to incubation services - 0,5 mil. € • Incubation services provided by the operator - 1,2 mil.€ • Pre-incubation - up to 1 mil.€ • Incubation services provided by external experts - 2 mil.€ • Incentive bonus for the operator – up to 0,3 mil. € • 10 k€ for each new successful company over requested 20 • Salary tax paid by incubatees in the certain taxation period exceeds the amount of the received support MoE LV

  7. GREEN INDUSTRY SUPPORT PROGRAMME NorwegianFund (Innovation Norway) Total – 12.6 m EUR (11,3 m € - NO; 1.3 m€ - LV) Duration – Sept.1, 2014 - March 31 ,2016 • 3 programmes: • GreenIndustry Innovation Center (Incubator) – 2.0 m € • SmallGrantScheme (10 – 140 k€) - 1.8 m € • OpencallforimplementationofGTs – 7.7 m € • 2 activities: • Bilateralcooperation – 0.3 m € • Programmemanagement – 0.8 m €

  8. GreenIndustry Innovation Center (Incubator) • Selected operators – RTU, LU (LV) and SIVA (NO) • Supportedactivities • Research • Prototyping • Testing Goal – 15 newcompanies • Actions: • Consultations • Marketresearch • Developmentofbusinessmodels • SmallGrantschememanagement • Pre-incubationactivities (at least 70 potentialbusinessideas) • Managementof ~ 1800 m2 space

  9. Bootstrapping The term comes from the German legend of Baron Münchhausen pulling himself out of the sea by pulling on his own bootstraps. Definition:“The act of starting a business with little or no external funding” R.Bendis, USA, Baltic Dynamics 2013, Riga, LATVIA

  10. Michael Eisner “There’s No Good Idea that Can’t Be Improved U”

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