Yesterday, on 21 November, the first training cycle of the program “Venture Catalysts”, organized by the Investment and Development Agency of Latvia (LIAA) in cooperation with UniLab, Riga Business School, as a structural unit of Riga Technical University and RISEBA, ended. The program aims to promote innovation, research commercialization, and the growth of start-ups. 53 entrepreneurs, scientists, and students from various educational institutions applied for the training to gain practical insight and strengthen their skills in setting up businesses.

The program covered topics such as innovation and research commercialization, innovation management, and the principles of start-ups. Participants explored management styles, intellectual property strategies, team roles in commercialization, and assessing the benefits of inventions. The program concluded with a session on securing funding and fundraising techniques. Through interactive discussions, founder stories, and applied learning, the program provided participants with the essential skills to turn innovative ideas into successful businesses.

“The program provided me with the basic knowledge I needed to learn the fundamentals related to advanced technology start-ups. “The Venture Catalysts training allowed me to support the ambitions of aspiring founders in the university ecosystem and make a significant contribution to their success. I would recommend this program to anyone who wants to help innovative ideas turn into impactful companies,” says Olga Vindača, Vice-Rector for Science and Innovation at the RTA. “I was particularly attracted by the practical approach of the training program – the opportunity to develop a commercialization roadmap for my idea, learn strategies for managing a team, and solve specific problems relevant to entrepreneurs. For me, the ”Venture Catalysts” program allows entrepreneurs to develop technical and business skills and learn how to build a sustainable and successful business,” says Kitija Paula Gailuma, a developer of science-intensive ideas. “The Venture Catalysts program has proven to be an invaluable resource for budding entrepreneurs and researchers, providing them with the knowledge and practical tools they need to commercialize their innovations. The training offers knowledge that helps build a strong foundation for a sustainable business, covering key areas such as intellectual property management, leadership, and fundraising,” says LIAA Director Ieva Jāgere. “The program has been crucial in realizing my vision of a digital mental health awareness platform. During the training, I had the opportunity to interact with like-minded people and team members who inspired and supported me, enriching the development of my project. The hands-on experience gave me a deeper understanding of the start-up environment, giving me the confidence to overcome challenges. The individual sessions were especially important, where I received personalized advice and constructive feedback, helping me to refine my strategy and move towards my goal with clarity,” says Aljina Geodorova, a student at the Faculty of Health Psychology and Pedagogy at RSU.

The program will continue in 2025, with the next Venture Catalysts training cycle starting on 25 March. Applications are now open, providing a new opportunity for budding entrepreneurs and scientists to learn the skills they need and create a roadmap for developing their innovative businesses.
More information about the next training cycle and a link to register can be found here: https://www.liaa.gov.lv/lv/notikums/venture-catalysts-praktisks-celvedis-zinasanu-ietilpiga-biznesa-uzsaksanai-2025 The aim of the program is to provide scientists, entrepreneurs and students with the knowledge and practical skills needed to develop successful start-ups based on scientific research and innovative ideas.
“Venture Catalysts training is organized by the Investment and Development Agency of Latvia (LIAA) in cooperation with UniLab, Riga Business School as a department of Riga Technical University, and RISEBA.
The training program “Venture Catalysts” is implemented within the framework of the ERDF project “Support to SME Innovative Entrepreneurship Development” (ID No. 1.2.3.1/1/23/I/001).