A memorandum of cooperation with Latvian Ministry of Economics

On 23 August InnoEnergy signed a memorandum of cooperation with the Ministry of Economics of Latvia. It aims to ensure further partnership by promoting the exchange of resources, knowledge and experience for new energy companies.

Based on the Memorandum of Cooperation, the parties undertake to jointly integrate existing knowledge and experience, exchange views, information and lessons learned in order to foster innovation. InnoEnergy plans to provide access to the organisation at the disposal of resources, including participation in various international competitions and conferences to promote new and existing energy companies’ access to international businesses.

According to Deputy State Secretary of the Ministry of Economy Raimonds Aleksejenko: “The Memorandum of Understanding signed today will strengthen Latvia’s closer ties with the InnoEnergy consortium, thus allowing both the Ministry of Economics and InnoEnergy to build closer contacts, use the competences and knowledge of both parties to promote the development of new and innovative ideas while ensuring the coherence of the activities implemented and non-overlapping. Already in 2017, the InnoEnergy accelerator, which supports the financing of new and innovative business ideas in the field of energy, was launched in Latvia and is considered to be a good complement to the portfolio of innovation support activities offered by the Ministry of Economics to start-ups and innovators in active businesses. We hope that this cooperation will result not only from the perspective of policy making, but will also ensure implementation of new, innovative energy and intelligent solutions projects in Latvia. “

In turn, InnoEnergy’s Hub manager in Latvia, Viesturs Zeps, emphasizes that “more active cooperation with the Ministry of Economics is a logical step towards the development of the energy sector and stimulation of the new business environment. The signed memorandum is a positive signal for young innovators to further develop their ideas, gaining new perspectives within the framework of cooperation, network of potential clients, partners and experts at the international level. It also allows Latvian companies to access a range of international initiatives, such as new networks within the European Alliance for Batteries. The InnoEnergy Innovation Ecosystem already includes more than 300 partners, including major industrial enterprises, research institutes and universities in Europe. “

In May 2018, InnoEnergy also signed a memorandum of cooperation with the Ministry of Energy of the Republic of Lithuania, thus contributing to the improvement of the energy sector in the Baltic region.