iiGrowth CEO Gustav Plato stated; “We are very pleased to accelerate our efforts to link with Estonian markets.  We believe the Baltic region offers attractive business partners and that Tallinn is certainly one of the leading Baltic Innovation Centers.  Sentio, which is based in Tallinn, offers a natural extension for iiGrowth.  We are already working with the Ventspils High Technology Park and Incubator, which also collaborates across the Baltic Region, and this also extends our base camp in the Baltic region. It was natural to have iiGrowth and Sentio form a strategic partnership. Having a strategic partnership with Sentio to promote the Baltic region will help business acceleration in both directions.”

There are several near term opportunities for Latvian and international businesses to form cooperative agreements.

The ERDF is sponsoring science and research projects ranging from 70-492 thousands Lats (up to 1 million USD). These are co-financing funds and project proposals in cooperation with universities must be submitted by December 14, 2009.

The network of business incubators in Latvia supports high tech companies to start business operations in Latvia, by offering SMEs qualitative infrastructure on reduced tariffs and co-financing for research and new product development.

The Investment and Development Agency of Latvia is preparing to solicit ideas/projects regarding the development of competency centers in Latvia. For example, Space, is a competency that the VHTP has already been developing for several years.

These and other focal areas are just the beginning of the new business opportunities and investment climate in Latvia. The Baltic Tiger is coming back and VHTP and iiGrowth are working together to be part of this economic resurgence. If you have an idea or capability that you would like to further explore, please contact us for a confidential consultation.

For more information please contact Ivars Eglajs (email: ivars.eglajs@vhtp.lv phone:+371 29126249) or Gustavs Plato (email: gplato@iigrowth.com or phone: 240.499.4938)

In May 2009, the World Bank published its Global Investment Promotion Benchmarking report. The report compared over 200 of the world’s leading investment promotion organizations. In this competition, the LIAA has been identified as one of the top 10 performing national Investment Promotion Intermediaries (IPI’s) in the World. iiGrowth is excited to be working with LIAA.

LatCham founding member and Chairperson Gustav Plato praised Northern Virginia for its diversity and vibrant economy and expressed his interest in promoting mutually beneficial exchanges between Latvian businesses and businesses in the Commonwealth of Virginia.

Mark Gibb, Executive Director of NVRC stated, “The co-location of the Latvian Chamber of Commerce and the Northern Virginia Regional Commission is a mutually beneficial partnership with many opportunities for collaboration on local, regional and international issues. This is a big advantage for Northern Virginia.

Ivars Eglajs, the Chairman of the Board of Ventspils High Technology Park said that iiGrowth LLC would deliver strategy and international marketing services to companies located in the technology park. iiGrowth LLC is a global strategy and management consulting business with representation in the United States of America and the United Kingdom.

Gustav Plato, Chief Executive Officer of iiGrowth LLC, stated, “I am pleased to announce that we have signed a Memorandum of Understanding with Ventspils High Technology Park to help Latvian, US, and UK businesses enhance their opportunities for trade and growth. We view VHTP as a market leader and market maker and are excited about working with them and companies at the park. I believe that our joint mission has profound importance, particularly in light of the current economic climate. Together, we can forge new inroads in terms of introducing potential Latvian businesses who will look to the United States and United Kingdom for new business opportunities and to US and UK businesses who are doing business or planning to do business in Latvia.

During the Baltic Tour, there were many highlights.  The Department of Commerce and the US State Department were outstanding in helping to arrange meetings, providing deep insights into each country visited, and just made the trip very pleasant.

The Baltic countries including the government ministries we visited (i.e. economics, foreign ministries, and transporation) were equally hospitable and insightful.  In addition, the private sector industry associations and firms we visited were open, very excited about the opportunities for cooperation on both sides of the Atlantic, and looking forward to accelerated collaboration in 2009.

Of the many highlights, one of them was the opportunity to meet with Kaspars Gerhards, the Minister of Economics, for the Republic of Latvia. It was special in that it was an opportunity to invite Minister Gerhards to join the Latvian Chamber of Commerce in the Americas.

ii Growth CEO Gustav Plato Present LatCham Honorary Membership to Latvian Economics Minister, Kaspars Gerhards

Gustav sees LatCham as looking forward to a very active year in 2009. In particular, given the economic downturn across the globe, it is critical to focus on fundamentals. This requires breaking down economic sectors and sub-sectors and looking for areas of opportunity, building business alliances, and elevating internal business maturity.

iiGrowth’s recent trip to the Baltics (Estonia, Lithuania, and Latvia) provided an opportunity to seek out and understand US opportunities in the Baltic markets and vice versa.  This trip proved very fruitful to the notion of strong economic growth opportunities between the US and the Baltics.

The transportation and Information Technology sectors were two areas of focus in the Baltic tour.  In summary, there are opportunities for economic development and fairly large infrastructure projects in aviation, highways, ports, and rail transportation.  Information technology and innovation also highlighted the high level of capability in Baltic IT firms.  The Baltic firms are ready for the US market and have a desire to seek out business partners in the United States.  More about each of the sectors in the coming week.

The U.S.-Baltic Foundation is an educational resource for U.S. policy-makers and the public. A national organization that unites all American friends of Estonia, Latvia and Lithuania, USBF develops and implements programs to strengthen democracy and free markets in the Baltics. The Foundation also introduces the Baltics to new American audiences with a series of public affairs programs.

The 2009 business program will be conducted as part of the US Baltic Confluence, which includes a Business Forum, Baltic Exchange, and Gala. The theme for the 2009 program is “Economic Growth Through Social Responsibility”. The Baltics have a long tradition of respect for nature, the environment, and sustainable development. It is part of the fabric of the Estonian, Latvian, and Lithuanian societies, and has its roots in over a 1000 years of Baltic traditions and practices.

Similar to the resurgance of the Baltic economies, there is a worldwide resurgance in sustainable development. Key Baltic industries including Transportation and Logistics, Information Technology, and Healthy Living will come together with US business leaders and financial investors to identify new collaborative business opportunities.

Maria Kivisild Ogrydziak, Chairman of the U.S.- Baltic Foundation also announced that Valdis Zatlers, President of Latvia, will headline a three-day series of Baltic cultural and business development events on May 14-17 at the Renaissance Mayflower Hotel, 1127 Connecticut Ave NW, Washington, DC. Sponsored by The U.S.- Baltic Foundation (USBF), the 2009 gala weekend will feature a business conference, an exchange program summit, a silent auction and black-tie gala dinner to highlight the special and growing ties between the U.S. and the Baltic States.

IIGrowth LLC, CEO, Gustav Plato, worked with the USBF to design the program and led the Technology Commercialization workshops. In addition, Gustav led efforts and worked with the State of Delaware and the Maryland Estonian Exchange Council to design and implement the two-state trade mission.