European Commission - Growth

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Small Business Act - Database of good practices

Translations EN

Id 1026
Videos
Title LU Studentu Biznesa inkubators, 2017
Language LV

Title LU studentu biznesa inkubators
Language LV

Title Biznesa inkubatori
Language LV

Title LU studentu Biznesa inkubators 2015 (with ENG subtitles)
Language EN

Title no title
Language LV

Year of submission 2018
01. Title of the measure University of Latvia Student Business Incubator
02. Country
03. Language English
04. Contact details
Responsible organisation The University of Latvia
Name and Surname of contact person Mikus Losāns
Street and number Aspazijas bulvaris 5
Postal code LV1050
City Riga
Country LV
E-mail of contact person mikus.losans@lu.lv
Website of organisation biznesainkubators.lu.lv
 

 
05. SBA policy area Skills and innovation
06. Source EEPA - European Enterprise Promotion Award
07. Description of the measure The University of Latvia Student Business Incubator enables students to start their business while still at university by providing the young entrepreneurs an acceleration programme, business coaches, mentors, a prototyping studio, an office and production premises, and other important support. In addition, at the end of the incubation period the best teams are eligible to receive a grant of EUR 10,000 for business development. Since 2012, the incubator has hosted 190 student teams, of which 46 have graduated from the incubator.
08. Objectives Becoming a key player among the European University business incubators by enabling every student to become an outstanding entrepreneur.

09. Duration (dd/mm/yyyy)
Start Date 02/01/2012
End Date Measure open-ended
Other Information
10. Target group Students of all tertiary levels and senior secondary-school students.
11. Have you consulted business organisations before submitting this measure? Yes
11.1 Comments/testimonial by business organisation/entrepreneur endorsed by Andris Ozols
12. Why is this measure a success? Please give information on results and achievements. In the course of five years, the UL incubator has hosted 400 students from every higher education establishment in Latvia (190 teams). In 2016, the incubator graduates generated a turnover of € 740,000 and created 74 jobs for the inhabitants of Latvia. 60% of the funding is provided by sponsors. At the moment of drafting this application, the incubator’s initiatives have received donations from 95 foreign and local sponsors who, in total, have raised € 267,828.
13. Problems that had to be overcome and lessons learned Without prior experience, it is virtually impossible to establish an enterprise ready for investment or conventional business incubators. We help students to gain such initial experience to prepare them for the next level. It is called pre-incubation.
14. Information on the measure can be provided in the following languages
English
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