Academic Centre
I. Muižnieks considers this funding and the international expertise made available along with it as a force for the innovation of the University of Latvia and Latvian science, and enabler of commercializing research results. One of the most prestigious world university rankings, the Times Higher Education, has given the UL as 801th to 1000th place, ranking between the 5% of the world's best universities. This is the highest assessment among Latvian higher education institutions. One of the five criteria for assessing the world's higher education institutions is the achievements in science.
Following the experience with similar projects in Europe, the EIB has recognised the value of the internationalization plan incorporated into the UL model of activity – to continue attracting international students and teaching staff. The other point of the UL business plan appreciated by the bank is the aim to increase the efficiency of university by combining studies and research into a single university campus. The bank looks at similar investment opportunities in the region.
The Rector explains that several steps are planned to commercialize the innovative ideas created under the auspices of the Academic Centre. The university has a multi-level business support system. "The Student Business Incubator provides an opportunity to study the very foundations, involving the actions that are not very technologically intensive, and acquire the business process. Then there are startups formed on the basis of university studies, created by students who use the input created during their studies", says I. Muižnieks in the article of "Dienas Bizness".
An example is “Anatomy Next”, an initiative to revolutionize medicine through interactive 3D technologies in order to create an enjoyable learning environment for students and help medical providers provide better care. It is based on the developments created at the UL Faculty of Medicine, Department of Anatomy and Histology, where students elaborated a digital model of vertebral column. Step by step, this initiative evolved into “Anatomy Next”, which is now particularly active in the United States. A similar project is the “Alternative Plants”, an innovative cosmetics startup that uses stem cell technology. “Alina”, an eco-technology startup, developed and internationally launched an innovative clay processing and production technology. The startups that have evolved from the initial impetus at the UL also represent other fields, for example, the programming of technological processes.
 financial instruments can enable the science of Latvia to enter the ranks of European innovation leaders, regaining the reputation and excellence that Riga stood for at the beginning of the 20th century, stated the Rector of the University of Latvia (LU) Indriķis Muižnieks at the seminar "Innovation – Source of Development in the 21st Century", which took place at the UL House of Nature. The location of this event is significant, as the loan of EUR 30 million granted by the European Investment Bank (EIB) in 2017 is being used for further development of the UL Academic Centre, writes Kristīne Stepiņa, newspaper “Dienas Bizness”.){kind=link}