As part of the Accelerate Future HEI initiative, Vidzeme University, Latvia hosted Business Laboratory 2024 to provide opportunities to develop entrepreneurial skills and create new ideas in business, for students.
Young entrepreneurs from the Limbažu and Smiltene regions, as well as Vidzeme University students, developed their business ideas and received valuable advice from experienced entrepreneurs as part of the training. In a cycle of 6 lessons, 26 participants gained a deeper theoretical insight, as well as the improvement of practical competences and skills in the process of starting a business, creating ideas and design thinking, ways of innovation, creating a business plan, marketing knowledge, financial literacy and the art of presenting your ideas to potential investors.
The theoretical lessons were led by university lecturers, while the mentors and role models for the young entrepreneurs were experienced entrepreneurs and experts, as well as university graduates from different fields. The Business Laboratory project has yielded significant benefits including the development of entrepreneurial, social and personal skills of the participants, the development of cooperation between the university and the local governments of the region, as well as the strengthening of the business environment in the regions.
At the closing event, the bravest members of the Business Laboratory 2024 sessions presented their entrepreneurial ideas. These ranged from the development of a robotics school, the production of an eco-grill, the creation of an application for people with autism, as well as cleaning services for children’s playrooms. Vidzeme University would like to thank the Limbazi and Smiltene municipalities for the organisational and financial support for this project, as well as all lecturers, experts, mentors, and young entrepreneurs who participated.
