On Wednesday 21 June the Investment and Development Agency of Latvia and Innovation Authority of Israel signed the cooperation agreement to foster bilateral projects in innovation and technology development.
This agreement will allow entrepreneurs, researchers and organizations from both countries to connect and work together on the same challenges, would it be climate, green energy, health or biotechnology. Latvia and Israel will announce joint calls for project proposals on all verticals and will co-finance the successful initiatives evenly, 50/50. Matchmaking events will precede the project calls aiming at building connections among Latvian and Israeli entrepreneurs and businessmen.
The agreement will also open the new opportunities both for Latvian and Israeli ecosystem players to build consortiums and participate in the special programs funded by European Union, like Eureka or Horizon where matching partnerships are prerequisite for successful application submission and access to significant budgets.
As Startup Nation Israel has endless innovative solutions to offer to international partners and develop new technologies within international consortiums. Latvia is a country with strong traditional industries, like Information and Communication Technology, Electronics, woodworking, metal working and food production. However the achievements in DeepTech , BioTech and GreenTech of Latvian scientists and innovators deserve more attention. "Our goal is to build such synergy between Latvia and Israel where 1+1 would be more than 2. Latvia is able to provide the access to the European market, great infrastructure for research and development and access to funding for the Israeli startups and scientists. I am sure that Latvian innovations could be interesting to the Israeli technological environment. Latvian startups are seeking international exposure and entry into new global markets where Israel definitely is a gate of the global economy", says Kaspars Rožkalns, Director General of the Investment and Development Agency of Latvia.
Dr. Ami Applebaum, Chairman, Israel Innovation Authority said: "Today marks a significant milestone as we celebrate the signing of the collaboration agreement between Israel and Latvia. By joining forces, Israel and Latvia can tap into their respective strengths and create a strong alliance that blends innovation with traditional industry prowess. This collaboration opens up exciting opportunities for knowledge exchange, technology transfer, and the fusion of cutting-edge advancements with established industrial practices. Together, we will drive economic growth, create jobs, and propel our nations towards a better future."
