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The Investment and Development Agency of Latvia grants funding for the commercialization of the ISSP UL project

21.05.2018.

The Investment and Development Agency of Latvia (LIAA) this year supported funding of 2.1 million euros for the commercialization of scientific inventions in eight different fields. Each project received support of approximately € 275,000. Funding received also one project of the Institute of Solid State Physics, University of Latvia (ISSP UL) "Thermoelectric Radiation Sensor".

The awarding of funding is an important step in the process of technology transfer, therefore, for evaluation of all submitted projects (40 in the first call), the LIAA attracted highly qualified foreign experts with a great experience in technology transfer and commercialization of new products, as well as formed an evaluation commission composed of opinion leaders from the Latvian Science Council and the Latvian Academy of Sciences, both representatives from the Latvian Employers' Confederation, the Latvian Chamber of Commerce and Industry and various sector ministries.

The funding available to the team of scientists will be available for industrial research, experimental development, participation in international exhibitions, conferences, individual visits, and other events aimed at finding and addressing potential customers.

The second call (from November 1, 2017 to November 30, 2017) projects with the highest commercialization potential, each of which will receive additional funding of EUR 275,000, will be announced in autumn this year.