The first round of evaluation of applications for the BioPhoT platform's research and innovation project (RIP) competition has ended - 79 projects will be able to continue the fight for funding. The projects that will receive a grant of up to 200,000 euros for the implementation of innovative ideas from a total of six million in state funding available in the competition will be announced in September.
"Among the highest-rated applications, health technology and diagnostic solutions, biomaterials and regenerative medicine, smart sensor systems, as well as sustainable chemistry and circular economy approaches dominate. The technological diversity of the submitted projects demonstrates Latvia's research and innovation potential," comments Osvalds Pugovičs, head of the "BioPhoT" platform, after the first round of PIP selection.
The first “BioPhoT” platform PIP competition evaluated more than 120 applications in the fields of biomedicine, medical technology, pharmaceuticals, photonics, smart materials and engineering systems, smart specialisation strategy or RIS3. Projects that received 10 or more points and at least one point in each evaluation criterion will be forwarded to the second round.
For three days, from May 26 to 28, five independent industry and commercialization experts from different countries – Irit Yaniv, M.D., MBA, healthcare business leader, investor and entrepreneur, Matīss Neimanis, managing partner and CEO of the venture capital fund and accelerator “Buildit Latvia”, Barak Azmon, physician and founder and CEO of several medical startups, Peter Birk, life sciences executive, investor and advisor, and Martin Askne, startup coach, innovation manager and business angel – analyzed the innovative potential and compliance of the submitted ideas with market requirements.
"The teams were well prepared – they were able to fit into a 5-minute presentation and answer questions concisely and accurately. The organisational work was also excellent – everything went smoothly, even better than planned. All we, the experts, had to do was focus on the presentation, the materials and make a decision. I believe that the platform will contribute to an excellent result!" commented M. Neimanis, a member of the expert panel, on the process.
Experts highlighted that the technological diversity and thematic coverage of the applications reflect the potential of Latvian science and resonate with the goal of the “BioPhoT” program to support early-stage technologies with high commercialisation potential in various scientific and economic sectors. A significant part of the platform’s funding is allocated to improving the innovation skills of scientists. On June 9 and 10, the Latvian State Institute of Wood Chemistry will host a two-day seminar “Intellectual Property – From Idea to Patent and Beyond”, which aims to provide researchers and intellectual property specialists with in-depth knowledge of intellectual property protection, patenting and commercialisation. All interested parties are invited to participate in the trainings organised by “BioPhoT” free of charge.
“The “BioPhoT” program purposefully promotes the transition from the framework of academic science to practically applicable thinking – researchers must be able to clearly identify the market potential of products or services at an early stage. This focus is essential for innovations to reach the market from laboratories. Despite the unusual presentation format, we saw that the PIP applicants demonstrated a high level of preparation and convincingly presented the market potential of their ideas. This was also particularly highlighted by the experts. Already after the first round of PIP selection, it is clear that Latvian research teams are able to demonstrate the innovative potential of their ideas and are aware of their application or market niches,” O. Pugovičs assesses the interim results.
The second round of the PIP evaluation will be followed by a scientific evaluation of project applications by the Latvian Science Council expert panel, and the PIPs that will receive state funding for their implementation in the first “BioPhoT” competition will be announced in September.
The first competition is part of a broader “BioPhoT” platform activity program, within which it is planned to organize two more project competitions by 2026. The total funding intended to support innovation projects will exceed 12 million euros, but almost five million euros will be allocated to improving the innovation skills of scientists, including training on technology transfer, commercialisation and intellectual property protection.
By 2032, it is planned to develop at least 35 new technologies, some of which will reach the market demonstration or commercialisation stage. The long-term goal of the platform is to strengthen the Latvian science and innovation system and promote technology-intensive entrepreneurship.
“BioPhoT” is coordinated by the Latvian Institute of Organic Synthesis, implemented by the Institute of Electronics and Computer Sciences, the Latvian Biomedical Research and Study Centre, the University of Latvia, the Institute of Solid State Physics of the University of Latvia, the Latvian State Institute of Wood Chemistry, the Scientific Institute of Food Safety, Animal Health and Environment “BIOR”, Riga Stradins University and Riga Technical University.
The project “Biomedical and Photonics Research Platform for the Creation of Innovative Products” or “BioPhoT” is implemented within the framework of the State Research Programme “Innovation Fund – Long-term Research Programme”. Platform number: IVPP-EM-Innovation-2024/1-0002.
