Business incubator Ventspils
The Business Incubator (BI) Ventspils is a publicly funded institution for the regional economic development of the port city of Ventspils in the Kurland region in western Latvia. After Latvia joined the European Union in May 2004 , numerous projects were supported and financial resources for the promotion of individual regions were only available. The Business Incubator emerged as part of the so-called PHARE program, which provided investment aid for infrastructures and regional development in the new member states of the European Union. In the Kurland region, the BI is the only institution that supports company founders in the high-technology sector. The BI was founded in February 2006 and is a structural unit of the Ventspils High Technology Park Foundation , the technology and innovation center in Ventspils.
function
First and foremost, young entrepreneurs and start-ups who are active in the high tech sector are supported during their development phase over a period of 3 years. In addition to the development and introduction of new products and services, support is also provided with marketing . The focus is also on advising young companies on drawing up business plans, financing issues and marketing. At the moment, 20 employees work in 8 different start-up companies in the Business Incubator, and the premises can be expanded as demand increases. The BI currently has an area of 460 m 2 and will be expanded to 1000 m 2 in 2008 . Newly founded companies can stay in the Business Incubator for a maximum of 3 years and after their "incubation period" may not be more than 5 years old.
During this time, the BI offers young companies a range of grants:
- Provision of the business address
- Support with formalities, entry in the register, etc.
- Advice on raising capital;
- Provision of office equipment and work materials
- Secretarial services
- Access to laboratories and research facilities
This financial aid for young companies is granted by the Latvian state in different installments, depending on the age of the company:
| Company age | <1 year | 1-2 years | 2-3 years | 3-5 years |
|---|---|---|---|---|
| Amount of aid | 85% | 70% | 50% | 25% |
High financial obligations are deliberately kept away from the young companies during the start-up phase in order to promote their ability to develop. The young companies can also take advantage of various types of consulting services, for which a one-off amount is awarded by the Latvian state.
The following advisory programs are available:
- First customers
- Foreign markets
- Raising capital
- Recruitment
- First technology development & test attempts
- Individual service ( bookkeeping , legal advice , accounting , business plan )
A selection committee, which, in addition to the Board of Directors of the Business Incubator, also includes representatives of the University of Ventspils, decides on the admission of companies to the Business Incubator. The companies must not be older than 3 years when they are accepted and must be active in the high-technology sector. The commission decides on the feasibility and viability of the business ideas, taking into account various criteria.
Board
The Ventspils High-Technology Park team consists of economists and finance professionals, as well as law and industry , among others. a. are specialized in innovation and technology development. In 2007 , the Board of Directors of Ventspils High-Technology Park, the Administrative Board and the Board of Directors of the Business Incubator were made up as follows:
administration
- Ivars Eglajs, CEO
- Lex de Lange, board member
- Igors Udodovs, board member
High Technology Park
- Dana Reizniece, director
- Varis Broks, head
Business incubator
- Salvis Roga, head
- Natalija Lukasa, project manager
- Inese Zeiferte, assistant to the management
Cooperation partner
Since it was founded in February 2006, there has also been a close network of cooperation partners from the core areas of business and education , as well as science and research . The promotion of innovation as well as the industrial and economic development in Ventspils are supported by this close cooperation of the three core areas.
The is Ventspils (Ventspils University College) University one of the main partners of the business incubator. With its engineering research center and the international center for radio astronomy , the university makes a significant contribution to the development of new products. The partnerships with general educational institutions, the 20th Ventspils Vocational School and the branch of the Riga Technical University in Ventspils also create additional synergies .