198 participants will join the Innovation Academy developed by Riga Business School and Latvian Investment and Development Agency

198 participants have been approved in the Latvian Investment and Development Agency (LIAA) Technology Business Centre and Riga Business School (RTU Riga Business School) pre-acceleration program Innovation Academy. This program will provide support to the research, idea development, prototyping and transforming of the Latvian science achievements into competitive business projects.

Anyone with their own idea was able to apply to the Innovation Academy, as well as those who are only getting there. Program kick-off is on 4 November and it is planned that it will continue for six month – at the end of the training clearly defined project concept and prototype will be expected from the participants. Program is planned for three years with 98 teams supported in total.

“It is a great pleasure to see such a big interest, and, when reviewing the applications submitted for the Innovation Academy, it is clear that we are moving on the right direction! I am happy to see that the participation is equally divided between both men and women. Technology Business Centre has to become the first point of support to people with the wish and know-how of creating new projects, turning their dream of business into reality and creating added value to the public. These are exactly the individuals, competent, motivated and creative who applied for the Innovation Academy support,” tells Head of Technology Business Centre Ņikita Kazakevičs.

Technology Business Centre is developed with the support of LIAA, joining the forces with Latvian universities – University of Latvia, Riga Technical University and Riga Stradins University. It is funded by the Norwegian financial instrument providing support in the amount of two million euro. Centre is included in the LIAA Business Incubator structure and its purpose is to provide support to emerging potential entrepreneurs to promote the development of business ideas. On its turn, Riga Business School, being part of the Riga Technical University, is the developer and driving force of this program.

“Innovation Academy will offer the opportunity to its participants to develop their ideas in a regular and systematic manner, meet like-minded people and find team members for the implementation of these ideas. Experienced mentors will take part in the program and with their experience they will provide support for the testing of the viability of the team ideas and share their knowledge, helping the participants to evaluate the commercial potential of their ideas,” says program director and Riga Business School resident entrepreneur Viesturs Sosārs.

Second Technology Business Centre support program for the business development in cooperation with partners - LU, RTU and RSU, will be launched in the beginning of 2022, with the purpose to promote prototyping and developing of new products.


Information prepared by:

LIAA Communication and Information Department

E-mail: prese [at] liaa [dot] gov [dot] lv


More information:

Head of Technology Business Centre Ņikita Kazakevičs, Nikita [dot] Kazakevics [at] liaa [dot] gov [dot] lv

Riga Business School Resident Entrepreneur Viesturs Sosārs, viesturs [dot] sosars [at] rbs [dot] lv