On 5 March, the satellite event “Young Millionaires and Technologies’ of the research platform ”BioPhoT“ took place at the University of Latvia (UL) House of Sciences as part of the festival ”Icebreakers“26”. Participants of the event not only got to know the latest innovations of Latvian scientists and students, but also predicted their commercial future in an interactive format.
The main aim of the event was to break down the barrier between science and business. During the event, five authors of innovations supported by the BioPhoT platform and potentially emerging innovations presented their ideas in short and concise presentations. Each presentation was followed by a unique element: a business forecasting game, where the audience together with experts assessed the viability of the ideas and predicted their development over a five-year period.
The projects presented covered a wide range of technologies, from high tech medicine to innovative energy solutions:
- Ilva Trapiņa: “Early, accurate, personalised: an MI-based biomarker panel for prognostication of multiple sclerosis progression PRECISE-MS”.
- Artūrs Brēķis: “Innovative power generation technologies at the Institute of Physics, University of Latvia, Salaspils”.
- Zane Šmite: “Neuromuscular workload assessment for personalisation of the training process”.
- Alexander Dutov: “Optical biosensors for tumour detection”.
- RTU student project: “VR glasses for children who experience anxiety from a medical environment”.
Alongside the evaluation of new ideas, leaders of the innovation industry shared their experience: co-founder of SIA “Alternative plants” Mārtiņš Borodušķis, founder of spin-off company SIA EPM Riga Toms Beinerts, CEO of SIA Fluffy Unlimited and SIA Sepsiscan Didzis Rūtītis, sustainable business strategist and Point2Hectare co-founder Diāna Šmite. The experts defined a number of essential prerequisites for the successful development of start-ups. The most important factors were a strong and united team, a willingness to experiment and persevere even after mistakes, as well as a genuine passion for your product, service or project.
These values were illustrated in practical action by a special guest: the Latvian toy brand KNOP KNOP. Rodion Zenevich, a representative of the company, demonstrated how the combination of design and sustainability can create a product with high global potential.
One of the most striking conclusions of the event was that “when you think a billion, millions will come”. This serves as a call to Latvian researchers and start-ups not to be afraid of big ambitions at the very beginning of a project. The event ended with a networking session, giving participants the opportunity to speak personally to experts in the field and forge new partnerships to commercialise innovations.
Project No IVPP-EM-Innovation-2024/1-0002 “Biomedical and Photonics Research Platform for Innovative Products (BioPhot)” is implemented under the long-term national research programme “Innovation Fund - Long-Term Research Programme”, funded by the Ministry of Economics.
Photo by Dmitrijs Sulžics, BioPhoT“
