Monday, November 25, 2013

News: Rotherham's Latvian link up

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Businesses in Rotherham will now be able to take advantage of support to set up an operation in Latvia, after RiDO (Rotherham Investment & Development Office) established a collaborative partnership with Ventspil High Technology Park (VHTP) in the Baltic country.

The arrangement means that enterprising Rotherham businesses will have the opportunity of three months' rent free of charge in a VHTP business centre. The support package also includes free-of-charge consultation with a mentor to make the whole process of establishing a business in the Baltic region much easier and more attractive to local businesses.

The partnership with VHTP came about as part of RiDO's ERDF-funded Growth and Prosperity in Rotherham (Soft Landing Zone) project, which aims to assist Rotherham companies with accessing international markets and also helps foreign inward investors who choose to locate to RiDO's business centres.

Amanda Parris, business development manager at RiDO, said: "We are delighted to be partnering with Ventspil High Technology Park. This new relationship will mean we can help Latvian businesses to set up in Rotherham, whilst VHTP will offer a reciprocal service by assisting our local companies with expanding their operations into Latvia. We are very excited about what this will mean for businesses in both areas."

VHTP is a specialist in promoting high technology industrial development in the town of Ventspil, Latvia. The organisation's aim is to promote job creation and foreign corporate development. A not-for-profit business, VHTP operates a business incubator, which helps to grow and accelerate start up businesses to enable them to become financially independent. The park is also home to Latvia's Space Technology Cluster. VHTP has already offered support to hundreds of businesses in a range of different market sectors including IT and communication technologies, electronics and mechanical engineering.

The project is supported financially by the European Union. It has attracted £842k investment from the European Regional Development Fund as part of Europe's support for the region’s economic development through the Yorkshire and Humber ERDF Programme 2007-13.

RiDO website
Ventspil High Technology Park website

Images: Ventspil High Technology Park

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