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Nov
14
2016

The pulse of Latvian startup scene: Week #45

#StartinLatvia to cooperate with international companies in development of next generation digital identity solution, sets up proto-companies for development of high-tech products, and more.

Notakey to cooperate with international players

International companies UBS, Credit Suisse and Swisscom will partner with Latvian based cybersecurity startup Notakey to work on a frictionless way for sharing identity across services. The Proof of Concept (POC) aims to explore how technology could simplify the registration process for new services across various industries.

The project will be finished in three months and will be tested in the partners’ internal environments first before moving to the next stage. Notakey CEO Jānis Kiršteins states, “We are very excited to work on next generation products with such industry leading partners. This project will demonstrate that small and agile teams can have a big impact.”

Nine new science-intensive companies being developed in Latvia

Semantic search, increased-sensitivity security scanning, tools and equipment to help precision engineering – these are some of the ideas whose transformation into high-technology products began at Commercialization Reactor 11th Ignition Event.

Nine proto-companies have been created that, with the help from the Commercialization Reactor, will become science-intensive startups in six months, said Commercialization Reactor’s head Nikolajs Adamovičs. Most of the projects are hoped to soon be ready for pre-seed and seed investments and have the opportunity to become full-scale companies and, possibly, even trailblazers for a new industry in Latvia.

Three new board members at Mapon hoped to help shift the focus

Draugiem Group company Mapon, the developer of company fleet maintenance and control systems, has added three new board members.

Joining Mapon board are the company’s exports manager Andris Dzudzilo, Draugiem Group manager of innovative IT solutions Ingus Rūķis, who will now work in the same capacity on the Mapon board to help company develop new solutions and upgrade the existing ones, and Dāvis Siksnāns who will use his competence for promoting the company’s products on foreign markets with the help of Internet marketing solutions. Siksnāns previously supervised product marketing at another company of the group, Printful. Edmunds Riekstiņš will continue as acting chairman of Mapon board.

The changes to Mapon board are intended to make it more efficient and focused on exports, as in the near future the company is planning to enter the British, U.S., and Canadian markets, as well as develop cooperation with Middle East countries.

Creamfinance shortlisted for Digital Top 50 Awards

Consumer finance company Creamfinance has recently been shortlisted for the Digital Top 50 Awards in the B2C Scale-up category. The Awards, organized in collaboration with Google, McKinsey & Co. and Rocket Internet, are organized for the very first time to celebrate Europe’s thriving tech scene and honor the most promising tech companies.

A jury of leading figures in technology has shortlisted the top 50 European tech companies, listing Creamfinance among the top 10 prominent European scale-ups. The winners will be announced at the Slush 2016 forum in Helsinki.