On September 26, the Vidzeme Open Innovation Centre (VAIC) held its first business and research cooperation forum “CREATING VALUE” in Valmiera, bringing together more than 150 participants – pupils and teachers, students, researchers, and entrepreneurs from Vidzeme and other regions of Latvia. The goal of the forum was to show how ideas can transform into high-quality products that meet market needs, and how to foster collaboration between business and research.
The event program was structured into three parts – Inspiration, Experience, and Practical – allowing participants both to gain insights from industry professionals and to hear real-life success stories. The content was enriched by an investor’s perspective on what they look for in entrepreneurial ideas, as well as hands-on workshops on identifying customer needs and defining the problems a specific product aims to solve. These focus points helped participants better understand the innovation journey – from idea and research results to a market-ready solution.
Opening the forum, Santa Vītola from VAIC emphasized the development potential of the region and its strong link between knowledge and collaboration as drivers of sustainable growth. She pointed out that Vidzeme contributes 9.11% of Latvia’s total added value and stressed that this figure should be strengthened by targeted investment in human capital and in collaboration between research and entrepreneurship.
“Knowledge is like fuel for growth. Researchers create new technologies, materials, and methods that enable the development of unique products and solutions to pressing social challenges. But the real strength lies in collaboration – between science, business, and education,” said S. Vītola.
Kristaps Banga, Head of Growth and Innovation Strategy at Accenture, spoke about the changing conditions in business and how to adapt to them. He emphasized that business growth requires always thinking two steps ahead: “The ideal business goal is continuous growth, but the world is constantly changing. First, you must understand what problem you are solving – only then can you choose how to solve it.”
The investor’s perspective was shared by Sigvards Krongorns, Investment Analyst at Verge HealthTech Fund. He noted that investors assess three key things – the potential of the idea, the team, and the quality of the deal itself. “To attract funding, you must build trust and relationships as early as possible, demonstrate progress, and be able to educate investors about your industry. Good preparation is the key to success,” he added.
Particular interest was sparked by Aigars Lauzis, co-founder and CEO of BeTRITON, who shared his experience on how perseverance and creativity can turn an idea into a globally recognized product. “The most important thing is to believe together with your team and be ready to sell. The first investor is always the hardest to convince, but once they believe, the rest of the journey becomes easier,” emphasized the entrepreneur.
The importance of user experience in business was discussed by Linda Lancere, researcher at Vidzeme University of Applied Sciences and representative of SIA Reha-bIT. She shared practical examples from the medical technology field: “A person and their needs determine whether a technology will actually be useful. The sooner you understand your user, the less costly your mistakes will be.”
In the Practical part of the forum, pupils and students worked on developing their own ideas, learning to identify their users and the problems they face. Workshops were led by Lilita Sparāne and Agita Šmitiņa, who helped young people think about the value of their solutions and how to deliver convincing presentations. “The formula for successful sales is to stay open, ask questions, show the customer value, and sell the story – not just the product,” emphasized Agita Šmitiņa.
Students also shared their own experiences. “I’m already working on my third student company and currently developing a prototype for a portable clothes hanger. I came to this forum because I wanted to hear entrepreneurs’ stories and get inspired. You could feel the spark of entrepreneurship here – that’s something I want to experience myself,” said Niklāvs Tomiņš, a 10th-grade student from Madona State Gymnasium.
Teachers also highlighted the event’s importance. Ilze Pliska, a design and technology teacher from Cesvaine Secondary School, said: “The Madona Business Incubator invited schools to take part in the forum, and we came from Madona district with a whole bus of students from several schools. The experiences and examples we heard open your mind. Sometimes we get stuck thinking ‘who am I to do this?’ It’s a great reminder for students that anyone can achieve a lot – both on the Latvian and global level. The forum clearly shows the importance of design thinking in creating a good product or service.”
At the end of the event, participants were invited to stay for the European Researchers’ Night activities at Vidzeme University of Applied Sciences, which filled the premises with creative workshops, experiments, and scientific discoveries.
The forum was organized by the Vidzeme Open Innovation Centre (VAIC), established through cooperation between Vidzeme University of Applied Sciences and the Vidzeme Planning Region, with the goal of developing the region’s knowledge and innovation ecosystem. The event was held with the support of the European University Alliance E³UDRES² and the LEAPXR project.
Prepared by: Baiba Šelkovska, Public Relations Specialist at the Vidzeme Planning Region
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