Latvia and Israel team up on tech and biotech

The Investment and Development Agency of Latvia (LIAA) and the Innovation Authority of Israel have signed a cooperation agreement to foster bilateral projects in innovation and technology development, reports Labs of Latvia.

The agreement will enable entrepreneurs, researchers and organisations from both countries to connect and work together on the same challenges, be it climate, green energy, health or biotechnology. 

Kaspars Rožkalns, Director General of LIAA, believes that renowned “startup nation” Israel has endless innovative solutions to offer.

The goal of the new agreement is to build “such synergy between Latvia and Israel where 1+1 would be more than 2”, stated Rožkalns.

“Latvia is able to provide access to the European market, great infrastructure for research and development and access to funding for Israeli startups and scientists. I’m 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”, said Rožkalns. 

On the day of signing the agreement, Dr. Ami Applebaum, Chairman of the Israel Innovation Authority said: “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.”

Latvia and Israel will announce joint calls for project proposals and will co-finance the successful initiatives. Matchmaking events will precede the project calls aiming at building connections among Latvian and Israeli entrepreneurs and businessmen. 

The agreement will also open new opportunities both for Latvian and Israeli ecosystem players to build consortiums and participate in the special programs funded by the European Union, like Eureka or Horizon where partnerships are a prerequisite for successful applications and access to significant budgets.

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