In a nutshell
SilvaTech acceleration program was designed by Startup Wise Guys for the Joint Stock Company Latvia’s State Forests to promote innovation and efficiency within the forestry sector and to help entrepreneurs complete the journey from ideation to building a tech product that will bring forestry solutions and potential collaboration to the client. To achieve this a hybrid (online & offline) 8-month-long acceleration program was carried out in 4 stages covering everything from idea shaping to building a market-ready solution. Both internal and external teams took part in the program. Together with the client, Startup Wise Guys team ensured effective project management, event production, accelerator program content, as well as branding and communication.
Fact box:
Client
Timing
July 2021 - April 2022
Goal
Attract and accelerate external teams for joint pilot projects, support internal teams and boost company innovation culture. Main KPI – 10 teams (both internal and external) prepared to present their solutions to the company’s board.
Solution
Tailored full cycle corporate acceleration program from ideation workshops and hackathon to pre-accelerator and Growth accelerator over the duration of 8 months
Outcome
Program KPIs were successfully met, 10 teams officially graduated the acceleration program, in total 12 teams presented their solution to the client, 5 external teams went into further discussions about collaboration and pilots. Latvia’s State Forests as part of the program defined their innovation process working with external teams and formulated cooperation models. More than 100 employees of Latvia’s State Forests were involved in the program in various roles.
Context
In 2021 JSC Latvia’s State Forest opened a public tender for Acceleration program in Forestry. Startup Wise Guys was the selected winner of the procurement and carried out a tailor-made solution in the duration of 8 months. The primary objectives of the program defined by the client were: to create at least 10 internationally competitive products, technologies and solutions with high tech readiness for implementation and added value directly or indirectly linked to Latvia’s State Forests activities, as well as to acquire new knowledge, promote innovative thinking and approach in Latvia’s State Forests internal culture through focused trials, fast development cycle, inter-functional teams.
Since we are an internal team – being part of SilvaTech is a huge opportunity knowledge-wise. The program gives an overview on how things are done in the start-up world. Meanwhile the knowledge shared might be applied on improving my personal working habits or on improving the everyday processes in LVM internally.
Startup Wise Guys role in the project
- Developing tailored acceleration program concept together with the client;
- Scouting for external teams interested in collaboration with the client;
- Forming and supporting internal teams in development of their projects;
- Attracting new and working with existing program partners and mentors;
- Running 4 phased hybrid acceleration program for the duration of 8 months;
- Project management;
- Communication and branding (brand identity, website, social media campaign and PR).
Results
More than 100 Latvia’s State Forests employees across all levels were involved in the program as participants, mentors, listeners and decision makers. 15 internal working groups were formed at the beginning of the program that were researching specific ideas. Out of these groups internal teams were formed and 3 of them took part in all program activities, including the Growth Accelerator.
As an additional outcome, Latvia’s State Forests have defined a process of working with internal and external innovations and formulated different cooperation models. The client identified 9 areas that they are looking forward to bringing more innovation to, based on these areas external teams were selected.
More than 30 external teams presented their technology to Latvia’s State Forests and took part in different program activities. During the program teams got access to Latvia’s State Forests data to test their MVPs and internal experts to validate their product-market fit. With 7 external teams the client was discussing pilots and cooperation opportunities at the last stage of the program.
We are working with experts from LVM to explore the possibility of trialing our seed coating technology for mechanical planting. This would be the first time SilviBio technology has been applied overseas.
