Investments double in smart materials and photonics companies based in Latvia

On October 8, internet news portals and have published an article about the smart materials and photonics companies in Latvia and the doubling of the investments in those companies.  The article informs that Latvia’s smart materials and photonics industry has been punching above its weight on the global stage and shows no signs of slowing, seeing over 40% growth in exports over the last 5 years, reaching 90M EUR in 2020. The steady growth has not gone unnoticed, with yearly external investments more than doubling from 16M EUR in 2016 to 40M EUR in 2020 over the same period.

Latvia’s smart materials and photonics industry has been continuously evolving over more than 50 years, adapting to global trends, perfecting collaborative systems, and growing its value-chains. The result is a modern, healthy, and comprehensive ecosystem that supports product development and manufacturing from idea inception to industrial production.

The article indicates that a central hub connecting science and business in Latvia is the Institute of Solid State Physics, University of Latvia (ISSP UL)—the top materials research and innovation center in the Baltics—and its platform Materize.

The ISSP UL itself is home to a unique micro- and nano-technology center, with more than 650 sq. meters of ISO-certified cleanrooms. It actively works with companies and researchers on the development of new sensors, light sources, photonics and electronic devices, as well as microfluidic devices for biology and medical applications.

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