Business, Latvia, Technology, USA

LABACA is a non-profit organization which goal is to foster collaboration between Latvia and the USA, especially California, using intellectual and financial resources, and to set up a high-tech ecosystem which would be able to prepare Latvian IT companies for real and successful startup in the U.S. and global market, writes LETA.

The aim of the organization is to foster collaboration between Latvia and the U.S., because there are businessmen in Latvia that able to develop and create modern technologies, but they are in need of information, financing, contacts, support and mutual cooperation, what the LABACA is able to offer, working on both coasts of the Atlantic Ocean.

The organization actively supports such technological information technologies fields as mobile applications development, social networks and their services, as well as development and maintenance of cloud computing applications.

The goal of the organization is to popularize the information and communication technologies sector in Latvia and for it to become the largest added value and profit source within the next 5-10 years. The organization also wished to popularize doing business in global markets and encourage students and businessmen to create information technology companies Twitter2, Google2 and Facebook2, as well as popularize success stories of information and communication technologies sector of Latvian high-tech companies in the U.S..

The organization also selects high-tech projects and companies of information and communication technologies sector to transfer their activity to the Silicon Valley and the U.S. market, ensure mentoring, recommendations, training, and contacts for startups in the U.S., as well as to organize visits and public addresses of representatives of the state of Latvia in Silicon Valley and California.

The organization is also planning to form the collaboration platform and maintain it in Silicon Valley, foster collaboration development of academic education with Stanford University and University of Berkley in California, form video conferences, etc.

JIC business incubator, data center DEAC, Riga Business School and company RealSound LAB support the organization.

The organization has concluded the cooperation agreement with "The Silicon Valley Association of Startup Entrepreneurs" for support and exchange of information of mutually organized events.