JSC “Development Finance Institution Altum”

Description: JSC “Development Finance Institution Altum” (hereinafter referred to as – Altum) is a state-owned financial institution, the mission of which is to provide access to finance in areas that the government has defined as important and to be supported, also enhancing mobilization of private capital and financial resources. 

Role of Altum: 

  • Every year, almost 2000 starters in different sectors ask Altum for financial advice about their future plans. Branch and head office employees are working closely together with Altum clients to develop their ideas into well-balanced business plans. These businesses plans are stored in Altum databases and can be delivered as a valuable input to develop and train the digital system. In this way the automated assessment system will be built on real-life cases. 
  • Altum has experts who assist new entrepreneurs on a daily basis. Together with an academic insight on business plans provided by other partners, project aims to make a very powerful evaluation tool. 
  • Assisting in evaluating the first outputs of this tool in order to make improvements and increase the quality. Also initial testing of this tool before roll-out can be part of this. 
  • By means of a piloting phase, Altum can integrate this tool into business processes and discuss the output in meetings with new starters. 
  • Altum has extensive experience with Business Model (Innovation), Lifecycle approach on a one on one basis with start ups and scale ups. Company work with entrepreneurs on a daily basis. 
  • Altum could offer a testing ground for the parameters as the Group provides support to companies in various stages of their development. Altum is also dedicated to reduce business/start up & scale up fail ratio’s. Next to that it adds the benefits of less financial distress which creates value driven business with better prepared and more successful entrepreneurs. And as such it brings value to start ups, the ecosystem and the EU economy in general.

Country: Latvia

Venue: Riga, Doma laukums 4, LV-1050

Website: https://www.altum.lv/en/

Contact: Gatis.Sniedzins@altum.lv