Bringing forth innovation – why science-industry collaboration is essential

Even a brilliant idea needs execution.  If one person has the idea but another has the tools to bring it to life, the questions is – how do we make those people meet? This might be the case when talking about technological innovations and entrepreneurs seeking solutions that are actually hidden away in research labs. Therefore, one of the ways how to facilitate creative and brave ideas is to encourage dialogue between different sectors, and Investment and Development Agency of Latvia (LIAA) has the tools for that.

More innovations and products with a high added value

With technologies developing at a fast speed, globalisation and ICT impacting how we do things can make business environment quite volatile so companies have to be able to act fast and adapt. Additionally, for growth to be sustainable, businesses should focus on investing in development of products with a high added value rather than be e.g. competitive on terms of cheap labour force. Meanwhile, hearing about the challenges and market demands, could change the way how researchers work on various novel applications and how they choose which directions to pursue. So, the goal is for both sides to meet and see how they can develop new products as a result of their collaboration.

Know where to look for partners!

It can be challenging to navigate in a multitude of research areas in the quest of finding the right solution for your idea or to find the right funding instrument to develop it. We – LIAA – can help you with that. Magnetic Latvia ǀǀ LABS of Latvia is a platform where entrepreneurs, idea-developers, potential investors, start-ups, researchers and tech enthusiasts can meet and learn about one-another and various opportunities. Additionally, LIAA Technology Scouts who know universities and institutes inside-out at can help you find your way to the right researcher for your challenge. Meanwhile, our start-up team implements a plethora of activities to speed up the development process and help start-ups attract investments, such as hackathons and foreign visits.

Financial tools for developing and implementing your idea

While finding the right partner is crucial, financial support is important as well. LIAA provides support to test and pilot the ideas early on – both in terms of the author’s age and in the level of development. For example, pupils and high-schoolers can establish their companies through a special programme, while companies and researchers can receive funding for proof-of-concept studies. Funding for research and development activities is there as well, meaning that a lot of opportunities are available. Learn about all of them at Magnetic Latvia ǀǀ LABS of Latvia!


Lauma MuižnieceLIAA Deputy Director of  Technology Department – Head of Technology Transfer Unit

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