bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Wednesday 29.03.2017 | Name days: Agija, Aldonis
LatviaLatvia

Four things to know before founding a ‘green’ start-up

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUSustainable innovations create new opportunities for production and technologies. This is why green solutions are a good starting spot for companies aiming to become part of the global market.

Here are some qualities that are found in green and scientific start-ups:

Scientific start-ups take more time to form properly

Companies using green technologies have a longer formation cycle in comparison with IT companies, which need less than a year to start functioning. Experts admit – to convert a scientific company into a profitable enterprise, four to seven years are necessary.

«We have talented young scientists who are incredibly active, think in a long-term perspective and search for word-class cooperation partners. At the same time their global thinking helps create technologies and products that can help resolve local problems. Right now there are multiple ideas of Riga Technical University that are being realized, including the development of bio-degradable organic polymer materials,» – explains RTU Innovations and Technologies Centre manager Laila Elina.

Plan for not just profits, but also environmental care and public benefits

During the initial stages of development, it is important to come up with a plan to convert an idea into a potentially profitable product and acquire proof of the plan’s sustainability. Because the goal of green innovations is to use natural resources more effectively, any successful green project should follow three main criteria: gain economic benefits and profit, increase general public welfare and help solve environmental problems.

It is too often that technologies seem innovative at the beginning, but developers of the idea lack the understanding of their own business model, value of the product offered to clients, positive difference in comparison with products provided by competitors, admits Imprimatur Capital Fund Management partner Toby Moore.

Investors are mostly specialized funds

Investors that work with emerging scientific companies, including companies working in the green sector, need to have a good grasp of the industry and repayment periods, explains Chairperson of Latvian Start-up Association Yekaterina Zaitseva.

Funding should be sought for abroad or in structure funds

There is currently very little ‘smart money’ in Latvia. This is why, when creating a green company, businessmen should look for investments abroad. It is far from simple, especially at the first stages of the company’s development.

Development of green innovations in Baltic States has been greatly promoted by Norwegian Financial Mechanism, which supports green business ideas and emerging environmental protection technologies and assists with inter-governmental cooperation.

«The fact that there are green companies here proves that their managers can properly manage funding in spite of the poor investment situation in Latvia,» – admits Zaitseva. She adds that it is possible to look for investments in EU programmes like Horizon 2020.

To promote the development of green innovations in Latvia and talk about stories of success in Baltic States, the Baltic green innovations forum 2016 will be organized in Riga on 15 June.

Ref: 102.109.109.7922


Leave a reply

  1. Arminas Ragauskas says:

    Dear Toby,

    it is good to hear on your work in Latvia!

    Sincerely,
    Arminas

    Thumb up 0 Thumb down 0

KNAB officers confiscate documents from Jurmala City Council

Corruption Prevention and Combating Bureau confiscated certain documents from Jurmala City Council on Tuesday, 28 March, as confirmed by the city council.

Trump suspends series of anti-climate change measures

Although the U.S. is one of the largest contributors to greenhouse gas emissions globally, the country’s President Donald Trump has issued an executive order aimed at suspending measures introduced by his predecessor in the post hoping to slow down climate change.

Natural gas reserves to be created in Latvia for energy crisis situations

Latvian Cabinet of Ministers supports the plan to entrust the creation of natural gas reserves to Conexus Baltic Grid, as BNN was informed by Economy Ministry.

Martins Bondars invites Riga residents to «topple» Nils Usakovs

Leaders of political parties Latvian Association of Regions and For Latvia’s Development believe the current Mayor of Riga Nils Usakovs is a real burden for the capital city’s development. This is why they have made it their main objective to «topple» Usakovs, as noted by Latvian Association of Regions.

Unity asks for assessment of Rail Baltica project for influence on Riga’s development

Unity’s representatives in Riga City Council Olafs Pulks and Nils Josts ask for an assessment of Rail Baltica project’s influence on the city’s development.

Latvian Defence Ministry signs agreement on cooperation in cyber security matters

As part of the E-skills week, Latvian Defence Minister Raimonds Bergmanis and President of Latvian Information and Communications Technology Association Signe Balina signed an agreement on cooperation in matters of cyber security.

Elvi and Aibe store networks form joint procurement group

Last week, two local Latvian store networks Elvi and Aibe commenced work on the creation of a joint company that would perform centralized procurements, as BNN was informed by representatives.

As UK readies to launch Brexit, interest in Estonian e-residency grows

A growing number of British citizens are applying for Estonian e-residency as the UK government plans to announce that the country will start leaving the EU later this week.

Expert: municipalities are incapable of attracting new residents

One way to increase budget revenue for municipalities is attracting new residents. This is a problem in Latvian municipalities, especially in Jurmala. «The city lacks cheap and accessible housing offers. This does not contribute to the attraction of new residents,» says real estate expert Jevgenija Dmitricenko.

Estonian gas seller: Excise duty hike unconstitutional

Estonian natural gas importer and seller Eesti Gaas has addressed the country’s Chancellor of Justice insisting that the increase of excise duty passed in 2016 was not in line with the rules of the Estonian constitution.

Bulgarian parliamentary election won by Borissov’s centre-rights

In the early parliamentary election of Bulgaria, the centre-rights led by the country’s long-time Prime Minister Boiko Borissov have won.

E-skills week to address the matter of digital security

Priorities of this year’s E-skills week include digital security and digital skills for employment and entrepreneurship, as well as e-services, comments vice-president of Latvian Information and Communication Technology Association Mara Jakobsone.

Strīķe: whenever contraband was associated with parties, SP put up all kinds of barriers

«I would never join any of the political parties that are currently in power,» said former official of Corruption Prevention and Combating Bureau and mayoral candidate from the New Conservative Party Juta Strīķe.

Penalty for not complying with state language rules – up to EUR 10,000

Amendments have been prepared for Latvia’s Administrative Violations Code. These amendments provide for a major increase of fines for non-compliance with state language regulations, as reported by the National Alliance.

Navalny jailed in Russia after organising anti-corruption mass protests

Russian anti-corruption activist Alexei Navalny has been convicted for disobeying police at a mass protest in the weekend.

Imants Liegis becomes Latvia’s first ambassador to Algeria

Submitting a copy of credentials to Algeria’s Foreign and International Cooperation Minister Ramtane Lamamra, Imants Liegis became Latvia’s first ambassador to Algeria with a residence in Paris, France, as BNN was informed by Foreign Affairs Ministry’s press-service.

EC develops stricter requirements for EU competition institutions

The European Commission invites member states to provide competition institutions with resources, independence and effective authority, as BNN was informed by Competition Council.

Tallinn Airport summer schedule to contain 36 routes

Tallinn Airport has announced its summer schedule that will include direct flights to 36 destinations and take effect from mid-April to late May depending on the airline.

«Elf» movement created to oppose internet «trolls»

«While the internet is the leading platform for topical news, it is also an environment for intentional disinformation and lies,» says researcher of the Eastern European Policy Study Centre Maris Cepuritis.

Construction costs in Latvia up 0.8% in February

Compared to January, the level of construction costs in Latvia increased by 0.2 % in February 2017. Labour remuneration of workers rose by 0.8 %, prices of building materials as well as maintenance and operational costs of machinery and equipment grew by 0.1 %.

Pärnu property sold for building plywood plant

Finnish capital company Metsä Wood Eesti has bought 104,000 square metres of land with plans to construct a 50 million euro plywood factory that would employ 200 workers.

Green farmer Krauze does not agree that circus animals have earned «freedom»

«When we were fighting for our freedom, I never would have imagined that we would start closing different circuses, because they present historical and cultural values. I believe we should not restrict that on a legislative level. If any circus owner wants to do that, they can. But we should not establish such restrictions on a national level,» said Armands Krauze, member of the Union of Greens and Farmers.

Providus/Delna notice major risks in approval of KNAB chief’s retirement pension

Saeima’s decision to support amendments to the Law on Retirement Pension of the Chief of Corruption Prevention and Combating Bureau has signs of state take-over, as stated by Providus and Delna in their Saeima work monitoring report for February 2017.

Programme: new TV3 and LNT owner will likely sell channels to someone else

The next owner of TV3 and LNT television channels, American Providence Equity Partners investment company, will likely sell these channels to someone else after some time, as concluded by De Facto programme of LTV.

Opinion: multi-speed development idea in Europe is not in Latvia’s interests

The idea of having a multi-speed Europe, as described in the Rome declaration signed by EU member states, does not comply with Latvia’s interests, says president of European Movement – Latvia Andris Gobins.