As the first phase of the “Innovation Academy” draws to a conclusion, the program team is preparing for the second phase of the season – the pre-acceleration. The pre-acceleration phase of the “Innovation Academy” is open for applications from 16 October to 6 November 2023 at Participation in the first part of the program is not a prerequisite for applying for the second part.

The first phase of the “Innovation Academy” brought together 143 participants, learning the basics of innovative entrepreneurship.

Participants have worked on ideation, leadership, team building, and cross-industry challenges, which has helped them to generate ideas with global potential and build teams to take these ideas further. At this stage, 30 teams have already been created; ideas that prevail are digital solutions, sustainability solutions, SportTech, and FoodTech. These solutions are to be developed through AI and IoT (Internet of Things) in the form of both applications and platforms.  

The “Innovation Academy” will host up to fifty teams in the second – pre-acceleration – phase, to work on innovative and globally scalable ideas. Over 18 weeks, the newly formed teams will work on testing the viability of their business idea, building prototypes, and developing products. During the pre-acceleration phase, local and international mentors will equip the teams with the skills and knowledge they need to succeed in the dynamic start-up ecosystem. 

This phase of the program will run from 27 November 2023 to 31 March 2024. To apply for the program, you must be part of a team of at least two people with the complementary skills needed to develop your idea.

“I am very pleased to see how teams are forming, and solution ideas are being polished in the first part of the program, in order to start with them in the second part of the program. In the next phase of the “Innovation Academy”, we welcome ambitious teams who want to test the viability of their scalable business ideas with experienced mentors and experts in different fields.”

The aim of this program is to provide participants with comprehensive knowledge, mentoring, and resources to turn their innovative ideas into viable businesses. It covers a wide range of topics including idea development, market research, business planning, and presentation to potential investors. The “Innovation Academy” invites teams from different sectors and backgrounds to apply, as the diversity of ideas and experiences often contributes to the emergence of ground-breaking innovations. 

Viesturs Sosārs
Director of the “Innovation Academy”, Entrepreneur in Residence at Riga Business School

“The past two seasons of the “Innovation Academy” have seen the emergence of several successful start-ups. The program’s lectures and mentors have fostered the development of start-ups and, by helping participants turn their innovative concepts into successful businesses, have created scalable companies for a global market.”

Andrejs Berdņikovs

Head of the Technology Business Centre, Investment and Development Agency of Latvia

“The Innovation Academy is organized by Riga Business School as a department of Riga Technical University. The programme is implemented with the support of the LIAA Technology Business Centre and the European Economic Area Financial Mechanism and the Norwegian Financial Mechanism.

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