The objective of the project is to develop a Green Technology Incubator (GTI) in Latvia. The aim of the operation of the GTI is to create and develop businesses by providing incubation and pre-incubation services. The founders of the GTI are two largest universities in Latvia, University of Latvia and Riga Technical University, and Industrial Development Corporation of Norway “SIVA”. The GTI will ensure knowledge exchange between universities, scientific organizations and businesses and promotion of international co-operation between businesses and institutions. At least 70 new “green” business ideas will be accepted for pre-incubation that includes GTI experts support for; testing viability of business concepts, preparation of business plans, market research etc. The pre-incubation support up to 10 000 EUR will be available for both physical entities and entrepreneurs. The GTI will also provide incubation services that are available for small grant scheme project developers. It is estimated that 15 enterprises will receive incubation support.
Summary of project results
On 7th July 2014 Ministry of Economics, Investment and Development Agency of Latvia, and Green Industry Innovation Center (GIIC) signed agreement about pre-defined project “Green Technology Incubator” implementation in Latvia. The project “Green Technology Incubator” was supported by Norway grants. One of the project’s goals was to create knowledge intensive businesses in Latvia via incubation mechanism and supporting the growth of companies in green industry. Project implementation period was less than 3 years but during that time a lot of activities and green project were supported, as well ensured knowledge exchange between universities, research organizations and green industry companies. In total 153 pre-incubation ideas got support in grant amount 1 012 805 EUR. As one of the best start-up pre-incubation ideas can be mentioned such as – ALINA, Eho Textiles, SaproGlue, Bee in, Gigi Bloks, Infy.me and others. 24 business ideas were incubated, with total spent grant amount 335 254 EUR. The most successful incubation companies - ''PlayGineering Systems'' Ltd., Baltic3D.Eu Ltd., '''PolyLabs'' Ltd., ''Linum Color'' Ltd., ''Vizulo'' Ltd. and others. GIIC became the partner of the World’s largest Cleantech business idea competition. The total Norway grant for the project was 1 778 902 EUR.
Summary of bilateral results
The pre-defined project was implemented with donorstate partner – SIVA. SIVA’s and its attracted partner Proneo AS input for the project implementation was significant. Donorsate partner ensured expert attraction for many Green Technology incubator’s clients. Expert consultations were provided in Riga (Latvia), as well some consultations and trainings were provided in Oslo (Norway). consultations were elaborated according particular client’s needs. Many Latvian companies willing to enter into Norway market as well to receive professional expertise in development of innovative technologies. The total grant spent within the SIVA’s expert fund - 233 770 EUR.