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On 26 May, the Riga Technical University Science and Innovation Centre hosted the industry panel presentations of the projects submitted for the first BioPhoT call. Over three days, more than a hundred project representatives will stand in front of industry experts to present more about their innovations and answer questions.

The first BioPhoT call for Research and Innovation Projects (RIPs) received more than 120 RIP applications: scientists and industry from the biomedical, medical technology, pharmaceutical, photonics, smart materials and engineering areas of the Smart Specialisation Strategy or RIS3 had the opportunity to apply for a share of the total €6 million national funding. In the first round, which runs from 26-28 May, an independent panel of experts analyses the innovative potential and market relevance of the ideas submitted.

"The projects submitted, and of course the presentations, cover a wide range of topics. Overall, I would say that what we see here is in line with what the mentors and the organisers of the presentations expected - namely that the guidance given to the applicants has been valuable and has been taken into account. Let's see how the experts judge it!" on the first day of the presentations Osvalds Pugovičs, BioPhoT Platform Manager said.

The first round of RIP applications is evaluated by five industry and commercialisation experts: Irit Janiva, M.D., MBA, healthcare business executive, investor and entrepreneur, Matīss Neimanis, Managing Partner and CEO of Buildit Latvia, a venture capital fund and accelerator, Barak Azmon, doctor and founder and CEO of several medical start-ups, Peter Birk, life sciences executive, investor and advisor, and Martin Askne, startup coach, innovation manager and business angel. Project presentations are moderated by Andris Baumanis.

"This is the first round of project selection, which will be followed by a second, more in-depth evaluation. Based on this short period of time alone, it is not yet possible to make a very concrete and unambiguous assessment of the projects. Overall, there have been a few projects that are a little unconvincing, but of course there are also very good applications. Our panel of experts is a complete team to evaluate projects, as each of us is experienced and specialised in our respective fields - usually the more you know about a subject, the more aspects and problems you can spot," said the panel members at the end of the first day.

The competition offers up to €200 000 per approved project, with a 12-month implementation period, extendable by three months. In the second round of applications, experts selected by the Latvian Science Council will carry out scientific expertise and the results are expected in October this year.

On 14 May, Riga Technical University Science and Innovation Centre hosted one of the Deep Tech Atelier 2025 events - "Research Translation: Deep Tech & Lab Open Doors". The event was organized by EIT Community Hub in Latvia in partnership with Biocatalyst Foundation and BioPhoT platform partners, bringing together researchers, start-up founders, innovation ecosystem representatives and investors.

During the event, the BoPhoT platform was highlighted as an example of best practice in targeted collaboration between research and industry. Anna Stikāne from the platform presented the support available - funding opportunities, mentoring network and practical tools to help researchers develop their ideas, build solutions for industry and get to the commercialisation stage. Some of the bravest BioPhoT candidates had the opportunity to try their hand at presenting their idea and received valuable feedback from the event participants.

Guest speaker Haim Piratinskiy (FESTO, Germany) shared his experience on the most common reasons why early stage science-intensive technologies (deep tech) teams fail to reach the market. Jakub Jasiczak, CEO of the Polish Association for University Technology Transfer, also took part in the discussion, analysing together the strengths and weaknesses of the ecosystem.

After the main programme, the participants went on excursions to the Baltic Biomaterials Centre of Excellence (BBCE), led by Professor Jānis Ločs, and to the Aeronautics Research Laboratory of Riga Technical University, Space Engineering laboratory (headed by Viktors Gutakovskis) and SkyLab/Design Factory (hosted by Elīna Miķelsone), where they had the opportunity to get to know the research and innovation infrastructure first-hand, as well as to strengthen mutual contacts for future cooperation in an informal atmosphere.

Photos from the event see in the photo gallery.

On 21 May, Scott Dax, PhD in Chemistry (USA), presented his biotechnology commercialisation experience at the Organic Synthesis Institute (OSI). He is an expert in the discovery and development of new drugs with more than 25 years of experience in drug development and commercialisation of ideas.

The lecture took place at a time when BioPhoT participants are preparing to present their ideas to a panel of experts who will assess both the market potential of the scientists' ideas and the ability of the author to present a convincing solution.

Sharing his professional experience in drug development, Scott Dax went through each step of this complex process and gave practical advice on what data sets are needed at each stage of development and how scientists can present their idea to attract the interest of investors and big pharma companies.

Scott Dax imaginatively compared a scientist who wants to sell his drug to the big players to an astronaut seeking funding for three expeditions to the Moon, not knowing for sure whether any of them will be successful. With this analogy, he drew attention to the cost of developing a single drug and the likelihood of it reaching the shelves of pharmacies. The cost of developing a single medicine through each phase of testing ranges from several hundred million to several billion euros. The process can take up to 20 years. The stakes are therefore very high for chemists and biologists to get market players interested.

Scott Dax stressed that one of the cornerstones for the success of any research project is the development of a team - a broad, interdisciplinary team, including financiers, lawyers and other specialists where appropriate. He also stressed the importance of anticipating mistakes early and having a plan in place to deal with them. Another universal recommendation is that scientists should have frequent and extensive dialogue with the potential end-user of the product when developing their project. In the case of Scott Dax, he spoke frequently with the patients for whom his team was developing drugs. "Be open to uncomfortable questions - being able to take them on board and deal with them will be the key to your strength," says Scott Dax.

The speaker pointed out that when preparing to pitch your scientific idea to investors, it is important to think about the way and the language in which to talk to business players. For this audience, it is crucial to hear that a scientist's idea not only solves a pressing problem, but that the solution will be profitable. Scott Dax summed up his talk by saying, "Remember, investors' desire to make money is always greater than their fear of losing money!"

Dr Scott Dax Areas of activity include organic chemistry, drug discovery, pharmacology, manufacturing technology and intellectual property protection. He currently heads DRx Pharma Consulting & Services. Clients include pharmaceutical companies, accelerators and incubators, venture capitalists, non-profit organisations, contract research companies, start-ups and legal service providers. Scott Dax has secured over USD 100 million in investments to date.