European Innovation Council

Established in 2020, the European Innovation Council supports innovative startups and researchers with promising ideas, focusing on early-stage companies with positive environmental, social, or governance impacts. It co-invests alongside private investors.

David Malo Jean

Director

Past deals in Latvia

Naco

Grant in 2023
Naco Technologies Ltd is a manufacturer and supplier of advanced nano-coating technologies, specializing in high-performance coatings for various industries including tooling, automotive, aerospace, and microchip production. Founded in 2009 and headquartered in Riga, Latvia, Naco develops multilayer and multicomponent coatings that enhance equipment performance by providing oil-enhanced, wear-protective, thermal barrier, and liquid-repellent properties. The company plays a significant role in the hydrogen sector by creating specialized coatings for Green Hydrogen systems, such as electrolyzers and fuel cells, which improve the reliability of these systems while minimizing the use of costly and scarce materials. In 2015, Naco Technologies was acquired by the Schaeffler Group, a Germany-based company, further strengthening its capabilities and market reach.

Lightspace Labs

Grant in 2020
Lightspace Technologies SIA specializes in the development of advanced optical solutions and technologies for augmented reality (AR) and virtual reality (VR) displays. Incorporated in 2014 and based in Mārupe, Latvia, the company focuses on creating multifocal, accommodating AR headsets and future glasses-free 3D image displays. Their portfolio includes innovative products such as a multilayer liquid crystal switching diffuser, VR/AR near-eye display architecture, and a unity 3D rendering software plugin designed for volumetric displays. Lightspace's volumetric 3D monitor is particularly significant in sectors like medicine and security, providing real-time 3D displays with optically deep images. This technology facilitates applications such as three-dimensional microscopy, image-guided surgery, and diagnostics, enhancing both image quality and eye comfort for professionals across various fields. Recognized as a leading contributor to volumetric 3D display technologies, Lightspace continues to advance optical reality solutions by reducing the optical hardware requirements for light field display technology significantly.

Lightspace Labs

Venture Round in 2020
Lightspace Technologies SIA specializes in the development of advanced optical solutions and technologies for augmented reality (AR) and virtual reality (VR) displays. Incorporated in 2014 and based in Mārupe, Latvia, the company focuses on creating multifocal, accommodating AR headsets and future glasses-free 3D image displays. Their portfolio includes innovative products such as a multilayer liquid crystal switching diffuser, VR/AR near-eye display architecture, and a unity 3D rendering software plugin designed for volumetric displays. Lightspace's volumetric 3D monitor is particularly significant in sectors like medicine and security, providing real-time 3D displays with optically deep images. This technology facilitates applications such as three-dimensional microscopy, image-guided surgery, and diagnostics, enhancing both image quality and eye comfort for professionals across various fields. Recognized as a leading contributor to volumetric 3D display technologies, Lightspace continues to advance optical reality solutions by reducing the optical hardware requirements for light field display technology significantly.
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