SIA “Phytopresso” is a Latvia-based company that develops modern health drinks and dietary supplements based on plant-based ingredients and Northern European traditional medicine knowledge. The company’s main distinguishing feature is its liquid, dosed dietary supplements in small-volume bottles, which ensure higher bioavailability of active substances and a faster effect.
In the company’s development journey, cooperation with the Investment and Development Agency of Latvia (LIAA) and participation in the LIAA Business Incubation Programme at the Jelgava representative office has played an important role. As emphasized by “Phytopresso” founder Tomass Auers, the incubator’s support served as a valuable environment for gaining practically applicable knowledge. In his view, particularly important was the exchange of experience with other young entrepreneurs and the opportunity to look at one’s business from a different perspective.
“What I truly appreciated in the incubation program was not only the support tools, but the environment itself – it was very interesting for me to see how young entrepreneurs think. They have a completely different approach and mindset, and there is a lot to learn from that,” says Tomass Auers.
Currently, after its initial market entry and export experience, the company is undergoing restructuring – reviewing its business model and product positioning, as well as actively searching for new manufacturing partners abroad in order to return to the market in the near future.
The company anticipates that, as it continues developing new products, the support tools of the incubation programme could also provide significant assistance, especially in the development of new products and prototypes.
This article was prepared within the framework of the project “Development of Innovative Entrepreneurship for SMEs”, co-financed by the European Regional Development Fund and the European Union.
