Latvia’s strength lies in innovation and export. Our entrepreneurs have demonstrated the ability to succeed in the world. For the nineteenth time, we will confirm it with new, bright examples by presenting the Export and Innovation Award. In order to promote the recognition of the best companies and their examples inspire other entrepreneurs and each of us, we will tell the success stories of all the nominees of the competition in the program “Latvian entrepreneur – from idea to success in the world”.
Most read Cocktail
5 dates in which winning the hearts of those born is a real challenge
“They want our land and we’re just getting in their way!” Alvis Hermanis tells all Latvians to remember this photo
A cocktail
Which little dog are you according to your zodiac sign? Taurus – pug, Scorpio – chihuahua
Read other posts
The development and implementation of innovations is currently one of the main directions of LMT’s business. In the first six months of this year, LMT has devoted a lot of attention and investments to the development and export of smart solutions, which is the company’s strategic priority this year.
LMT’s sea 5G connectivity solution “Seamless 5G Connectivity in the Baltic sea”, which was tested in the waters of the port of Riga this summer in cooperation with Riga Freeport Authority capital company, port technical service provider “LVR Flote”, was nominated for the prestigious International Ports Association Sustainability Award. It made it to the finals along with the Montreal and Abu Dhabi port projects, proving Latvia’s international competitiveness in the field of technological innovation.
OTHERS ARE CURRENTLY READING
Also, LMT has been implementing various projects related to defense technology innovations for several years. In 2020, in cooperation with NBS, a 5G test environment was created at the Ādažu base for the testing and development of various sensors, protection systems and unmanned solutions.
LMT was the first in the Baltic States to offer the new generation Internet of Things networks NB-IoT and LTE-M, which are called low power wide area networks.
What are the innovations of LMT?
“In recent years, we have approached this issue very seriously, investing many millions in various directions. And our most visible investment is the transport monitoring platform, which we provide not only in Latvia, but also look at export. Our solution is currently available in both Austria and Lithuania, and we are also looking at other markets,” says Aigars Runčis, director of LMT’s Business Development Service.
“Another direction is the sensor business, where we have developed a solution in cooperation with “Mikrotik” – a smoke and air quality sensor – which works in the mobile network and sends information to a person’s mobile phone about air quality as well as some special warnings,” he continues.
Apart from these finished products, LMT devotes a lot of time and energy to the development of various future projects. For example, one of the company’s ambitions is to digitize the maritime industry.
“We are testing how 5G technology could be applied in this area. For example, this summer we set such a unique record – a 5G signal from one ship to another worked and was reachable at a distance of 53 kilometers. It opens up new possibilities, new applications, how ships can communicate with each other, how different fields can be digitized and so on,” explains Runčis.
“One other direction for us is very closely related to drones. We are building drone corridors where drones will be able to continuously fly a certain route, return to their base stations, and have real-time data immediately available to customers who need it.
In the coming year, it is expected that we will start surveillance-rescue operations on several beaches using this drone corridor technology. Rather, not us, but the Riga municipal police will do it,” he revealed.
Another area where LMT is developing and innovating very rapidly is the digitalization of utilities.
“We are currently focusing on the Latvian market. We have started cooperation with several municipalities, municipal companies, for which we offer the newest generation of water meters, which immediately cooperate with the platform, sending all data to one platform, respectively, customers can see both water consumption, changes, trends and the like,” says Runčis.
The director of the LMT Business Development Service reveals that the company has a total of five business lines that develop their products both for the Latvian market and for export: “And we are very proud of our participation in various European projects, because through them we finance both the education of our people and the exchange of knowledge , on which, accordingly, we further build new products and new directions.”
Speaking about the company’s markets, Runčis states that “we primarily look at the Latvian market as a colossal sandbox, because the advantage of Latvia is that the entire ecosystem is very close. The academic sector is very close, various cooperation partners with whom we can easily call, exchange ideas, processes and try these applications in different companies, test environments and the like. Then we are already looking at how to develop this solution for some export markets.”
LMT’s most distant export partner is the Republic of South Africa.
How are innovations created and how are human resources attracted? LMT recipe
“This is a rather broad question, because there is no such “black box” where you go in and come out with an innovation. It’s a constant and tireless process where you act, you put something in place, and then this magic happens as a result.
There are, of course, several essential components, such as people and their competence. We pay special attention to this issue and we allow our people to develop. We participate in various projects, we actually finance the transfer of knowledge through them, our people become smarter, learn something more, which can then be transformed into products, with which we are already looking at export markets,” says Runčis.
The LMT company mostly employs Latvian residents. “We closely cooperate with the academic sector, we tell them what kind of specialists we need and then they are prepared accordingly, then we take them on and work with them further.”
“We work very closely with the academic sector from other countries in various projects. We do not take them directly to work, but we take over their knowledge, skills, good practices and experience,” he adds.
Digitization of shipping
“Maritime digitization is one of our focuses where we look and study more deeply. Our ambition is to make the Baltic Sea the first 5G sea in the world. This means that 5G communications will be available between ships in the Baltic Sea, which will enable various applications that can be done on these ships,” says Runčis.
“We do this through test environments. For the most part, we start right here at home. In this case, we cooperate with “LVR Floti”. We have outfitted one of their ships and actually turned it into a 5G base station on the move. When entering the sea, this ship receives a signal from the shore, uses it to itself. The idea is that this signal will also be able to be transmitted from one ship to another. We have started it in cooperation with “LVR Floti”, but currently we have installations in the ports of Hamburg and Lübeck, which find our developed solutions and ideas very interesting. In addition, they have also been tested in a specific location, in this case in Riga, and they already know that those solutions and installations can also be used at their place,” he explains.
From innovation to product sales
“Scaling and commercializing innovation is the big challenge, or shall we say, the biggest unknown of it all. Because it’s one thing to make a shiny thing that many people like, but who really needs it?
Here we work very closely with market research, analytics data and the like – how to apply a particular technology or application to an industry, what problems are being solved, why it is needed, why people are willing to pay for it, and why it would make the world a better place.
By studying this data, we get information about primary, secondary markets, where to go first, where to wait. And that’s how we operate,” explains the director of LMT’s Business Development Service.
A recipe for successful innovation
“I would say that there is no one universal or unique recipe. Innovation isn’t something nice and shiny, maybe it’s at some final stage where you go out and show what you’ve got. In general, it is long-term, persistent work, quite heavy, tiring. And then something happens. In this process, not much happens, but we learn, take the best from it and move forward.
I would like to thank the many dozens of colleagues who are involved in the process of creating innovations, because without our people, without colleagues who are very passionate, who are very passionate about their idea, we would not be able to move forward in innovation,” Runčis praises his colleagues.
Asked to discover LMT’s “magical combination” in the creation of innovations, Aigars Runčis points out that it is “boring as the world: “The process is happening. The process always starts with an idea or an initiative, which we explore more deeply, move forward, check the viability of this idea. From this stage, we move to the next, where we make a real product, we offer it to customers for testing, we get feedback, we constantly improve this product until it is ready for the market – domestic or export – that’s already a detail.”
“Another thing we do at LMT: we don’t try to maintain one so-called ‘pink department’ where all the brightest minds, the best innovators get together and then do something. We have people who work on innovations, located in different departments, structural units. They each know their role and know how to put in the work so that the great product, the great process moves forward,” he adds.
Without what is innovation possible?
“Trivial as it is, it’s an idea. If you don’t have an idea, if you can’t connect some dots that may have seemed unconnected until then, then there won’t be that first push or attempt to do something. In my view, this is the most integral or first stage.
And then there is the most difficult stage, which we also see and have enjoyed, is this stage of commercialization and scaling,” says Runčis.
“As a telecommunications operator, we made a very conscious decision a couple of years ago that we will not sit in our glass palace and try to rule the world from the highest floors. We go out, meet different industries, people, talk and listen to what they tell us. Practically all these innovations that we have, they have been born from conversations, from ecosystem conversations, with the involvement of both the private, public and academic sectors, when you understand how on a map, how on a board you can connect those dots. Of course, one must have an open, flexible mind. If someone tells you – I can’t – then don’t give up at that moment, but take it as a challenge.”
The program cycle is financed from the European Union Cohesion Policy Program 2021-2027. for the year “Support for the improvement of the technology transfer system” and investments of the Latvian Recovery and Resilience Mechanism Plan “Support for digitalization of processes in commercial activities”.
Topics
RELATED ARTICLES
Latvia’s Innovation Journey: From Idea to Global Success!
If you think Latvia is just about breathtaking landscapes and a quirky national accent, think again! This small Baltic nation is cooking up something rather big — a cocktail of innovation, export, and perhaps a dash of “we’re better than you think.” And let’s not forget about the Export and Innovation Award, which is here to confirm that our entrepreneurs are not in some cosmic lottery, but are actually winning the jackpot of creativity!
So, if you’ve ever doubted Latvia’s entrepreneurial spirit, prepare to be inspired. This year marks the nineteenth time that the Export and Innovation Award is revealing success stories that could drive the most mundane entrepreneur to stand up and shout, “I can do that!”
The Smart and the Brilliant: LMT Takes Center Stage
Speaking of smart, let us shine a spotlight on LMT, the company that’s making waves in the technology pond! Recently recognized for their sea 5G connectivity solution, their ambitions are high, not to mention their credibility, standing shoulder to shoulder with global giants like Montreal and Abu Dhabi — who knew Latvia could perform on such a massive stage?
Now, wouldn’t you love to say “Latvia has a 5G sea”? It sounds like some futuristic movie, where mermaids tweet underwater, right? This is not a fantastical dream, people; it’s innovation in its raw form! But it’s not just about diving deep into tech; LMT understands the importance of continuously evolving, as they dip their toes into everything from defense technology to the digitization of maritime services.
Innovations That Make You Go “Hmm…”
Curious how LMT cooks up their innovations? Step aside, Gordon Ramsay; there’s no ‘Hell’s Kitchen’ here, just a lot of elbow grease and collaboration. They stress that the process of innovation isn’t some secret recipe kept under lock and key—it’s more of a chaotic kitchen where ideas simmer and occasionally explode! And like the best of chefs, they know that it all starts with the most basic ingredient: an idea.
For LMT, it’s about exploring the world around them, communicating, and, believe it or not, listening to potential users. Who knew the path to innovation could be as simple as hearing what people need? Magic happens when they blend creativity with practicality — it’s like making the best cocktail, only without the hangover.
The “Boring” Truth Behind Innovation
Runčis, the wizard behind LMT, bluntly states that innovation is not about glitzy presentations and one-off flashes of brilliance. It’s about persistence, effort, and sometimes slogging through prolonged silence that feels about as exciting as watching paint dry. In other words, if you’re looking for flashy brilliance, go watch a reality TV show instead!
What’s LMT’s secret sauce? They believe it involves individuals from various departments each playing their part, allowing for multiple brains to engage and innovate. Just imagine a team where everyone brings a fragment of madness — it sounds like the setup to a bad joke, but it’s also the heart of their success.
The Future is Bright, or Perhaps 5G?
As they look into the future, LMT hopes to expand their reach and set the Baltic Sea ablaze (not literally – let’s not set any ships aflame), aiming to be the world’s first sea equipped with 5G capabilities. I guess we’ll just have to wait and see if mermaids actually take up live-streaming!
Conclusion: Latvia is Here to Stay
In a world where innovation is treated as gold dust, Latvia is proving to be a marvelous mine! The entrepreneurs and companies, like LMT, are showing that determination, collaboration, and listening to your clients pays off. So next time you think of Latvia, remember it’s not just about those majestic views but also about how this tiny nation is set to revolutionize tech, export, and—dare I say—fame.
So, as these innovation stories unfold, let’s keep an eye on this Baltic treasure. Who knows? One day we might be toasting a drink with “Made in Latvia” right on the label. Cheers to that!
Latvia’s prowess is firmly rooted in its innovative spirit and its robust export activities. Entrepreneurs throughout the nation continue to showcase their capacity for global success. This year, for the nineteenth time, we will celebrate outstanding achievements by presenting the prestigious Export and Innovation Award. To elevate the profile of exemplary companies and inspire current and future entrepreneurs, we will share the compelling success stories of all nominees in the program “Latvian entrepreneur – from idea to success in the world,” shining a light on their remarkable journeys.
The development and implementation of innovations is currently one of the main directions of LMT’s business. In the first six months of this year, LMT has devoted significant attention and investments to pioneering and exporting smart solutions. This commitment to innovation is a strategic priority that reflects LMT’s vision for the future.
LMT’s maritime 5G connectivity solution, titled “Seamless 5G Connectivity in the Baltic Sea,” was successfully tested this summer in collaboration with both the Riga Freeport Authority and the port technical service provider “LVR Flote.” This initiative was prominently nominated for the esteemed International Ports Association Sustainability Award, reaching the finals alongside projects from the notable ports of Montreal and Abu Dhabi. This achievement underscores Latvia’s growing international competitiveness in the realm of technological innovation.
LMT has invested in various projects intertwined with defense technology innovations for several years. Their collaboration with the National Armed Forces (NBS) in 2020 led to the establishment of a pioneering 5G test environment at the Ādažu military base, a crucial hub for testing and developing cutting-edge sensors, protection systems, and unmanned solutions.
LMT’s forward-thinking approach includes being the first in the Baltic States to introduce next-generation Internet of Things networks, known as NB-IoT and LTE-M, which function as low-power wide area networks, catering to the demands for innovative connectivity solutions.
“In recent years, we have approached this issue very seriously, investing many millions in various directions. Our most visible investment is the transport monitoring platform, which we provide not only in Latvia but also look to export. Our solution is now operational in both Austria and Lithuania, with aspirations for additional markets,” emphasizes Aigars Runčis, director of LMT’s Business Development Service.
“Additionally, we’ve collaborated with ‘Mikrotik’ to develop a smoke and air quality sensor that operates within the mobile network. This sensor relays critical information, including air quality updates and emergency alerts, directly to users’ mobile devices,” he continues.
Beyond these completed projects, LMT is devoting ample resources to cultivating various future initiatives. Among their ambitious goals is the digitization of the maritime sector.
“We are actively exploring the applicability of 5G technology within this industry. This summer, we achieved a groundbreaking record—establishing a 5G signal connecting two ships over an impressive distance of 53 kilometers. This advancement paves the way for innovative communication methods among vessels, unlocking new opportunities for digitization across multiple fields,” explains Runčis.
“Another direction we are pursuing closely relates to drone technology. We are developing dedicated drone corridors, enabling unmanned aircraft to follow specific routes, return to their bases, and provide real-time data to clients who require it.
Next year, we expect to initiate surveillance and rescue operations across several beaches utilizing this drone corridor technology, with the Riga municipal police leading the efforts,” he revealed.
LMT is also making rapid strides in the digitalization of utilities. Presently, their focus is primarily on the Latvian market, having already begun collaboration with multiple municipalities to offer state-of-the-art water meters. These meters connect seamlessly with a centralized platform, allowing customers to monitor their water usage, observe fluctuations, and identify trends effectively,” Runčis notes.
Runčis shared that LMT operates through five distinct business lines, creating products for both the local and international markets: “We take immense pride in our involvement in various European projects, as they not only finance the education of our professionals but also facilitate knowledge exchange. This foundation allows us to refine and innovate further.”
Regarding market orientation, Runčis remarked, “We regard the Latvian market as a colossal sandbox, given the immense advantage of having a closely-knit ecosystem. The proximity of the academic sector and various partners allows for easy collaboration, facilitating rapid innovation, testing of ideas, and refining applications across different companies.”
The Republic of South Africa represents LMT’s most distant export partner, expanding the company’s horizons on international scales.
“Innovation isn’t a singular moment; it’s an ever-evolving process that combines numerous elements, particularly human expertise. We prioritize this within LMT by investing in our team’s development. We actively participate in diverse projects that enhance knowledge transfer, ensuring our workforce grows smarter and more skilled, which translates into innovative products aimed at export markets,” Runčis said.
Notably, LMT predominantly employs Latvian residents. “We work closely with the academic sector to communicate our needs for specialists, ensuring they receive tailored training. Upon completion, we integrate them into our operations to foster continual growth,” he explained.
“Moreover, we collaborate with academic institutions abroad for various projects. While they don’t join us directly as employees, we benefit immensely from their knowledge, skills, best practices, and experiences,” he stated.
“Our exploration into maritime digitization remains a pivotal focus as we aspire to establish the Baltic Sea as the first 5G sea in the world, facilitating the implementation of various applications onboard vessels,” expresses Runčis.
“Our testing occurs primarily within local waters, collaborating with “LVR Floti” where we outfitted one vessel to function as a mobile 5G base station. This ship receives shoreline signals, effectively transmitting communication to facilitate superior connectivity between ships—a pioneering step making waves in maritime technology,” he explains.
“However, scaling and commercializing these innovations present significant challenges. Crafting an appealing product is merely the beginning; the real quest is identifying who will utilize it and why,” Runčis emphasized. “Our process involves thorough market research and analytics to grasp the application of technology and the issues being resolved, ensuring that our innovations truly benefit users and create value.” We strategically pinpoint initial and secondary markets, guiding our path to success.
“It’s crucial to underscore that no singular, universal recipe for innovation exists. Achieving it involves a commitment to perseverance and meticulous work. Many times, progress appears stagnant, yet we glean insights at every stage, refining our approach,” he remarked, expressing gratitude to the dedicated colleagues who fuel LMT’s innovation drive.
Runčis describes LMT’s innovative approach as a far cry from the typical approach—“It’s methodical. Every initiative stems from an idea that we meticulously explore, validating its viability before progressing to product development. Customer feedback is invaluable as we constantly enhance our offering for both domestic and international markets.” He added, “Instead of confining our brightest minds into a single department, we distribute innovation responsibilities across various teams, empowering individuals in diverse roles to contribute towards advancement.”
Last but not least, he emphasized the fundamental role of ideas in the inception of innovation: “If an idea doesn’t materialize, if the connections between previously unlinked concepts aren’t made, innovation cannot progress. This stage of connecting ideas serves as the foundational push that catalyzes action.” Moving on, the real challenge lies in the scaling and commercialization of these concepts, an intricate dance that LMT has grown proficient in,” Runčis articulated.
The LMT director highlighted the importance of external engagement: “As a telecommunications operator, we consciously stepped away from isolation, reaching out to diverse industries and stakeholders, fostering conversations that lead to collaborative innovation. Most of our advancements have emerged from these ecosystem dialogues, showcasing the immense value of connectivity across the private, public, and academic sectors.” He further noted the necessity of maintaining an open mindset, embracing challenges as opportunities for growth rather than obstacles.
The program cycle is financed from the European Union Cohesion Policy Program 2021-2027 for the year “Support for the improvement of the technology transfer system” and investments of the Latvian Recovery and Resilience Mechanism Plan “Support for digitalization of processes in commercial activities.”
Iability before progressing to the development stage. This iterative process involves creating a prototype, testing it with customers, gathering feedback, and making necessary improvements until we have a market-ready product.”
Notably, LMT does not confine innovation efforts to a single department but spreads it across its various teams. Each department has its specialized role, contributing their expertise to ensure that the final product is not just functional, but also meets the market demands. “We have created an environment where creativity flourishes across the board, rather than just in a designated ’innovation department’,” Runčis points out.
On the subject of what fuels innovation, Runčis emphasizes that it all starts with a single idea. “Without an original thought or the capability to link previously unrelated concepts, there isn’t a spark to ignite the innovation process,” he asserts. Following the generation of ideas, the next formidable hurdle is commercialization—transforming these concepts into profitable products that resonate with users.
LMT’s strategy encapsulates a hands-on approach; they proactively engage with different industries to gain insight into their needs. “By interacting with various players from the private, public, and academic sectors, we can effectively chart our path in the innovation landscape. It’s vital to maintain an open mind and embrace challenges when they arise,” Runčis continues.
the success stories emerging from Latvia’s innovative endeavors highlight a collective spirit driven by creativity, collaboration, and determined problem-solving. LMT’s initiatives serve as a beacon of what’s possible when visionary thinking meets practical execution. As Latvia embarks on its journey towards becoming a global leader in technology and innovation, its entrepreneurs and companies stand ready to rise to the occasion. The world is watching, and Latvia is poised to shine!
In a designated ‘innovation hub’,” Runčis notes.
This collaborative approach is what allows LMT to effectively harness a diverse range of talents and perspectives, enabling them to generate and implement innovative ideas that resonate in the market. By empowering all employees to engage in the innovation process, LMT fosters a culture of creativity and agility, which is crucial in the fast-paced world of technology.
In this environment, ideas can flourish and transform into recognizable products that solve real problems. Runčis emphasizes that this method not only aids in developing viable products but also creates a sense of ownership and responsibility among employees, driving them to produce their best work.
As LMT moves forward, the company aims to not only enhance its technological offerings but also contribute to the wider digital transformation in the maritime sector and beyond. The journey of innovation at LMT is ongoing, with a focus on mutual growth, collaboration, and responsiveness to customer needs. With each step, they solidify Latvia’s place in the global innovation landscape, ensuring that they are not merely spectators but active participants in shaping the future.
With the strong foundation of teamwork and open dialogue, LMT is poised to continue making impressive strides in innovation, validating Runčis’s belief that while the path may be challenging, it is also ripe with opportunity and potential. As they strive to establish the Baltic Sea as the first 5G sea in the world, the possibilities for LMT—and Latvia as a whole—remain boundless.