Business Incubator

ISMA Business Incubator gives students an opportunity to develop and implement their business ideas through the advantages and support provided to the participants of the Business Incubator.

Aim: To support and promote students’ interest in starting and development of entrepreneurship activity.

Mission: To provide to ISMA students knowledge and experience in the field of entrepreneurship and ensure favourable environment for the development of business ideas.

The enrolment of applicants is performed in compliance with the Regulations.

Applicants are enrolled on a competition basis.

Six-step procedure:

1. Applicants' consultations with their scientific supervisors or with the Business Incubator manager

2. Filling in and submitting of the Application to the Career Centre

3. Considering of the application

4. Presentation of a business idea

5. Announcement of the competition results

6. Participation in the Business Incubator

ISMA Business Incubator participants:

• Participate in educational events: conferences, seminars, workshops, etc.,;

• Receive consultations on starting a business, company financial planning, accounting, marketing, legal provision, record keeping, and other issues;

• Develop a business plan, establish a company and start business operations according to a business idea.

  Experts

  Experts	Sphere	Position
  Asoc.prof., Dr.oec. Viktoriia Riashchenko	Strategic management and human resource management	Head of ISMA Business Incubator, expert
  Prof., Dr.sc.ing. Rostislavs Kopitovs	Business projects	Chairman of The Expert Commission of
  Prof., Dr.oec. Deniss Djakons	Marketing and marketing research	expert
  Prof., Dr.oec. Antonina Djakona	Marketing and visual marketing, innovation and development in higher education	expert
  As. Prof., Dr.oec. Olga Verdenhofa	Human resource management	expert
  As. Prof., Dr.oec. Valentina Djakona	Legal regulation of business	expert
  As. Prof., Dr.oec. Jevgenija Dehtjare	Marketing and tourism	expert
  Maksims Grinčuks	Financial management and investments	expert
  Kristīne Hamruna	Accounting	expert
  MBA, Žanna Kļeščevņikova	Legal issues	expert
  Staņislavs Miščenko	Organisation of catering technological process	expert
  Asoc.prof. Ivars Linde	Business projects	expert
  Aija Zeltiņa	State language	consultant
  Ludmila Lastovska-Zvirbule	Record-keeping	consultant

Applicants

Applicant – ISMA student or graduate, or a group of students (hereinafter – student) who applies to the participation in ISMA Business Incubator.

Application:

• ISMA students or graduates (who graduated from ISMA during the last year);
• Students of other Latvian higher educational institutions, who join in a team with ISMA students and/or ISMA graduates. 51% of team members shall be ISMA students and/or ISMA graduates.
• Applicants can apply individually or in a team. Maximum number of members in a team is 5 (five).

Applicants are enrolled on a competition basis:

• applicants' consultations with their scientific supervisors or with the Business Incubator manager;
• filling in and submitting of the Application to the Career Centre;
• considering of the application by the commission;
• presentation of a business idea;
• announcement of the competition results.

Six-step procedure:

1. Applicants' consultations with their scientific supervisors or with the Business Incubator manager;
2. Filling in and submitting of the Application to the Career Centre;
3. Considering of the application;
4. Presentation of a business idea;
5. Announcement of the competition results;
6. Participation in the Business Incubator.

Enrolment/Competition procedures

Applicants must submit a computerized application form, a recommendation from the scientific/course paper supervisor, and a CV in the state language.

Documents are submitted the Head of the Career Centre: marina.celika@isma.lv

Applications are considered by the Expert Commission consisting of at least 5 members. Applications are considered in two stages.

Stage I.

The Commission considers the application on the basis of administrative and qualitative criteria and decides which applicants are to be invited to the second stage.

Administrative criteria:

• All the fields of the application form are filled in;
• Recommendation from the scientific / course paper supervisor is submitted;
• Applicants' compliance with the target audience of the Business Incubator;
• The volume of the business plan in the application does not exceed 10 A4 pages.
• If the application does not meet at least one of the administrative criteria, it is not considered and the applicant does not participate in the competition.

Qualitative criteria (points):

• Brief description of a business idea – max 5 points;
• Sustainability of a business idea – max 10 points;
• Innovativeness of a business idea – max 5 points;
• Possibility of the export of a business idea – max 5points;
• Character of a business idea: manufacturing or service – max 5 points.

Applicants who obtain at least 15 points in the first stage are invited to the second stage of the Competition.

Stage II.

Applicants shall make the presentation of their business ideas to the Commission. Presentation time – 10 minutes. The Commission announces the results of the competition within 5 (five) working days from the day of the presentation of business ideas.

Limit of services provided

Contacts