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Bank Continues to Support Technology Development and Entrepreneurship

News - May 25, 2010

The Technology Promotion and Commercialisation Workshop (2nd Commercialisation Reactor) will be held from May 25 to 27 in Riga. The project’s aim is to commercialise technological inventions developed in the Commonwealth of Independent States (CIS) by using Latvia’s and EU’s legislative and business landscape for this purpose. Baltic International Bank is proud to be among the financial supporters of the event.   

The project has been organised by the Latvian Investment and Development Agency (LIDA) in co-operation with International Science and Technology Centre (ISTC) and Virtual CEO.

12 technology developers from the CIS will participate in the project. They want to commercialise their know-hows by way of establishing an enterprise in Latvia. The ISTC’s experts have developed a proof of concept (evidence which demonstrates that an idea, invention, or business model is feasible) for each new technology. 

First launched in Riga in November 2009, the project brought together 9 technology developers from the CIS and a group of 25 Latvian entrepreneurs who showed their interest and readiness to start in Latvia new business based on scientific concepts.

ISTC is an intergovernmental organisation connecting scientists from Russia, Georgia and the CIS with their peers and research organisations in Canada, EU, Republic of Korea, Norway and the United States. The ISTC mission is to facilitate innovative projects in research and technology and to support commercialisation initiatives.

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