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The SilvaTech Acceleration Program helps internal teams (company employees) and external innovation teams (start-ups) implement technologies, products and solutions in forestry, forestry, seed and plant growing, mineral extraction and production, recreation, and geospatial information technology.
The SilvaTech program is tailored to the needs of LVM and the forest industry to create at least 10 internationally competitive products, solutions or technologies with high added value and high implementation readiness.
“Without digitization and tools such as geospatial information systems, tablets and drones, the company would not be able to effectively manage a quarter of Latvia’s or 1.6 million hectares of forest land. So far we have created and implemented innovations on our own, but now it’s time to take a step Therefore, we invite other participants of the innovation ecosystem to participate in and engage in the challenges of the forest sector in the SilvaTech program in order to jointly find solutions in machine learning, sensors, robotics, remote sensing and other areas, “says Ilga Anita, Head of Development at LVM Bērzkalns.
From 8 to 10 September, an online or hybrid form (part live, part online) will take place. The most successful teams will be selected for participation in the pre-acceleration phase. In turn, the 10 best “SilvaTech” program teams will enter Growth in the accelerator. The program will end in March 2022. Until then, the network of LVM and involved international mentors will provide support and knowledge to teams in developing ideas. Those interested can apply for participation in the program on the “Silvatech” website.
“Access to large companies, data and expertise is one of the biggest challenges for start-ups that create business-to-business solutions. In turn, innovation programs such as SilvaTech open these secret doors and allow start-ups to validate their idea or product in a particular industry much more easily and quickly. We congratulate the Latvian state forest team with the courage to take a step towards external innovation and invite new companies to apply for a hackathon, use this opportunity to develop and grow together, “Cristobal Alonso, head of Startup Wise Guys, is pleased with the cooperation.
LVM manages and administers 1.62 million hectares of land in the Republic of Latvia, including 1.59 million hectares of forest land, of which 1.39 million hectares are forest. This year, LVM paid 90.5 million euros into the state budget. Last year, AS LVM had a turnover of 349,692,869 euros and a profit of almost 62.3 million, according to information available from Lursoft.
SWG is an accelerator for early stage investors and start-ups. The investment portfolio includes more than 235 start-ups from all over the world, including several Latvian start-ups: CastPrint, Exonicus, CENOS, Jeff App and others. SWG invests in and develops business-to-business start-ups in the areas of cybersecurity, financial technology and sustainability.
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