Latvian Technological Center (LTC) is an innovation and technology-oriented business support structure – business acceleration centre, which stimulates establishment and growth of knowledge-based SMEs by creating relationships between research and industry as well as encouraging SMEs for trans-national cooperation. Year of the foundation – 1993.
The main objectives of LTC are the following:
- To fill the gap between institutions of higher education and research and industry;
- To promote foundation of small and medium sized enterprises for production of technology-based and high-tech products;
- To create contacts between industry and research laboratories;
- To promote international economic and scientific collaboration for development of competitive products;
- To create jobs for highly-qualified craftsmen and researchers;
- To promote the formation of society open to innovation.
LTC is registered in the Register of Research Institutions at the Ministry of Education and Science of the Republic of Latvia (since 2006)
LTC was founded by Riga Municipality, Latvian Academy of Sciences, Institute of Physical Energetics and Latvian National Quality Association. LTC management is supervised by board, whose members are appointed by the founders which are state owned organizations and regional government.
The main LTC activities are directed on the following levels:
- World wide
International cooperation with the global and regional professional associations on innovation and knowledge-based business development, e.g., Entovation International, International Association of Science Parks and Areas of Innovation (IASP), Middle East and North Africa Association (MENA) for business development, National Business Incubation Association (NBIA/USA), etc.
- European Union
Participation as partner in different innovation related projects in EU research and education programmes – FP5/FP6/FP7, Horizon 2020, Leonardo da Vinci, EU Competitiveness and Innovation Programme – CIP (European Enterprise Network – EEN on technology transfer), and EU programmes for transnational and cross-border cooperation – INTERREG. LTC supports the National Contact Point for SMEs and participates in different experts groups for EU programmes on research and innovation.
Good cooperation links are established with innovation support institutions in the Baltic region. Regular meetings on different innovation related topics take place every year. Under the leadership of the Baltic Association of Science / Technology Parks and Innovation Centers (BASTIC) common activities are organization of annual international conferences on innovation “Baltic Dynamics” which are held in turn in Estonia, Latvia and Lithuania and management of the annual contest for the Baltic Assembly Innovation Prize.
LTC has established good partnership with technology oriented high-tech SMEs, industrial associations, and research institutions. LTC is making substantial contribution for motivation them to international cooperation and participation in technology transfer activities and innovation related EU projects. LTC has good co-operation links with such high-level governmental bodies as Ministry of Education and Science, Ministry of Economics, Investment and Development Agency of Latvia, State Regional Development Agency and others. Under the leadership of LTC the National Concept on Innovation (2001) and National Programme on Innovation (2003) were developed. On the contract base with governmental bodies LTC provides different surveys and conducts research projects under the different topics on innovation and SMEs development every year, e.g., Regional Innovation Strategy (2004-2006), Innovation Capacity of Latvian SMEs (2003 and 2007), Environment for Innovation in Latvia (2006-2010), etc. LTC has published the Handbook for Innovative Companies (two editions), catalogues “Innovative Companies in Latvia” (2005, 2007 and 2011), brochure “R&D in Latvia” (2005 and 2008), book for children “In Search of Innovation” (in Latvian), etc.
LTC has a data base of high-tech companies and innovation related service providers in Latvia and with many of them LTC has co-operation agreements to provide advisory services on international cooperation, transnational technology transfer, marketing issues, accessing financial resources, etc. For partner companies LTC organizes brokerage and matchmaking events, stands in international exhibitions, targeted study tours to different countries. If necessary, LTC assists them in negotiations with potential co-operation partners. LTC also carried out the functions of a business incubator till year 2006. Since 1993 more than 100 new high-tech companies were incubated and successfully have started their independent life. Many of them were awarded the State “Export and Innovation Prize” later on.