Citadele Bank Latvia is a parent company of the Group. The Bank offers a wide range of banking products to its retail, SME and corporate customer base. Citadele bank Latvia is the parent company of the Group, and represents 76% of the Group’s assets. Citadele owns directly and indirectly 14 subsidiaries, which operate in various financial market sectors. Citadele aims to become the primary bank of choice for aspiring retail and small business customers across the Baltics.
#1 Sustainable lending and investment products
The shift towards a more sustainable lifestyle and business practices is undeniable; hence the need to educate individuals and businesses about the footprint left, inform them about possibilities, and incentivize such sustainable behaviors rises. This brings an opportunity to develop and offer dedicated loans and investment products, incentivizing such sustainable behaviors and raising awareness.
Citadele is looking for teams eager to co-create various industry and activity-specific financial products to trigger the mindset change for bank’s customers on how people and businesses shall invest, borrow and monitor footprint. The team at Citadele is open to potential solutions across various industries and services.
#2 ESG data monitoring & reporting
Banks and their Corporate clients everywhere are expected and soon-to-be required to create and analyze their own and their customers’ ESG profiles. Analyzing, monitoring,sharing, and reporting the ESG data is critical for banks and their corporate clients to improve sustainability-related risk management practices.
Citadele is looking for a startup team with an easily implementable solution that would enable the bank to monitor and interpret the ESG data of its corporate customers and share these data with the corporate clients minimize footprint, and drive customers towards a more sustainable lifestyle and business practices.
Citadele team startups will be working with
Latvenergo is the leading and largest energy company in the Baltics with a sustainable and forward-looking business portfolio. By generating green energy, developing electric mobility, solar energy, and other services, Latvenergo involves its customers in the responsible use of environmental resources.
Elektrum is a trading brand of Latvenergo, represented on all energy market segments in the Baltic States. Along with a sustainable attitude towards electricity and natural gas trading, Elektrum provides its customers with energy efficiency expertise and future-friendly electricity use by offering electric mobility and solar energy services.
#1 Flexibility of the power system
Europe’s decarbonization policies focus on integrating significant shares of renewable energy sources into its power system. To cope with uncertainty in demand and variable generation and to maintain a stable power system balance at all times, the importance and need for flexibility sources will increase. In addition, flexibility is essential for the Baltic power system, as its desynchronization process from the Russian power system (fast reserve provider now) will be finalized by the end of 2025.
Latvenergo and Elektrum are looking for flexibility instruments to orchestrate all possible flexibility sources - starting from industrial demand to small-scale demand, like offices (HVAC), heat pumps, or electric vehicles. Those instruments shall have the ability to modify generation injections and/or consumptions patterns in reaction to external signals to provide services for grid operators.
#2 Digitization of electricity production facilities
In a highly competitive electricity market, power plant owners are taking steps to reduce operating and repair costs, minimize operating personnel, postpone renovations and reconstructions. On the other side, delayed repairs may increase the likelihood of plant downtime and accidents, and equipment may be used close to its strength limit. Hence, digital solutions that reduce power plants' maintenance costs and increase Latvenergo's combined heat and power (CHP) and hydropower plants' operational efficiencies are necessary. Latvenergo is looking for new digital solutions and tools that modernize existing practices and increase the efficiency of plants' day-to-day operations.
Control of the power plant's mechanical and electrical equipment and civil constructions and engineering communications is crucial to secure high-reliability rates of the power plants. One of the control types is the physical routine checks of the equipment of the facilities, which is strictly defined in the company's regulations. To increase the efficiency of the daily routines (that results in the record in the special register) and reduce the amount of paperwork, it is needed to develop a digital solution that allows to unify the collection of the routine data, its reporting process and increase the quality of the processes. In addition, it is essential to consider various factors such as the state of the main equipment and give comprehensive statistics about the quality of the performed checks. Such solution requires the development of the software for the tablet or similar device (Android or another platform), selection of the solution for the unique checkpoint readings (preferably NFC technology), incorporation of the geolocation (GPS positioning) during performing of the checklist, and detailed digital report sending to the management.
Latvenergo team startups will be working with
Rimi Baltic Group
Rimi Baltic (RIMI) is one of the leading grocery retailers operating in the Baltic States through different store concepts (277 stores in total). RIMI is a subsidiary of Swedish group ICA Gruppen and is represented by three companies in the Baltic States – Rimi Eesti Food, Rimi Latvia and Rimi Lietuva.
Sustainable e-store packaging
Currently, Rimi e-store orders are delivered in fully recyclable paper bags made of 50% recycled paper. Despite that, most bags still end up in the trash after a single use or create piles of bags at customers’ homes. The bags cannot be accepted back for recycling because of quality concerns. Therefore, we need to find ways to have orders given out more sustainably.
Rimi Baltic Group is looking for an environmentally friendly solution that minimizes usage of single-use packaging in the Rimi e-store, improves customer satisfaction, keeps the same cost levels, and does not add to the operational complexity of the delivery process.
Rimi team startups will be working with
Post is of crucial importance to any individual and company, state and society. Our mission is to provide high-quality postal services throughout Latvia. Our mailmen reach even the most distant farmsteads and we can deliver postal items to any address in the world. We are always available to everyone everywhere. In addition to traditional postal services, we are developing new, innovative offers in order to become the best assistant to our customers in their everyday lives. Our services allow you to deal with all kinds of formalities in an easy and convenient way.
#1 Processing of poor-quality data
Latvijas Pasts has introduced a new user-friendly customs declaration process via a personalized web link. The solution was created due to EU regulations regarding VAT applications and low-value e-commerce and personal consignments from the third countries received by a person in the EU. Automated text messages are sent out to customers allowing for clearing around 90% of all received goods within 24h. However, the shipment data quality is imperfect; they are missing, incorrect, poor formatting, extra symbols, etc. This requires substantial manual curation of the data to proceed with customs clearance at Latvijas Pasts’ end.
Latvijas Pasts is looking for a digital solution, possibly in the AI field, that would improve the processability of data of suboptimal quality and eliminate or minimize the necessity for employee involvement in data correction. This solution would help Latvijas Pasts customers to receive notifications regarding customs declarations for their orders within 24h from the arrival of the parcel in Latvia.
#2 Delivery without the address
Sending a parcel or shipment without knowing the recipient's address becomes a more and more common necessity. However, sending a parcel to an individual without knowing her address is currently only possible when sending it to parcel lockers, not via other delivery methods. Latvijas Pasts is looking for a way to let individuals send their parcels or shipments to others without knowing the delivery address in every delivery method.
Latvijas Pasts is looking for a GDPR compliant and safe solution that would provide a system that allows each recipient to choose his preferred delivery location using only the phone
number, name, or other ID of the recipient.