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The Baltic Management Development Association (BMDA) awards a prize for innovation to the Faculty of Engineering Economics and Management of Riga Technical University (RTU), evaluating the implemented interdisciplinary approach in entrepreneurship education.
RTU Faculty of Engineering Economics and Management was awarded the prize at the annual conference of the Baltic Management Development Association (BMDA), which gathered more than 140 participants from 20 countries – Lithuania, Estonia, Chile, Latvia, Ukraine, France, Great Britain, the Netherlands, Russia, Switzerland, Portugal, Slovenia, Poland, Kazakhstan, China, Egypt, the United States, Greece, Georgia and Norway.
RTU has created an interdisciplinary study and research environment, in which students can not only gain extensive theoretical and practical knowledge, but also gain experience in business development, product development and prototyping. These skills are highly valued in the labour market and add value to the knowledge acquired at university. This approach also helps to develop cooperation among students, trains critical thinking and knowledge retention.
In order to develop innovative thinking, creative skills and entrepreneurship, RTU offers various training modules, programs and support tools, encouraging students to acquire the competencies necessary for entrepreneurship. This includes business training for all engineering sciences students.
RTU Design Factory has become an important participant in the innovation ecosystem – an innovation and business platform with the best-equipped prototyping workshop in the Baltic States, a team of highly qualified experts and scientific support for entrepreneurs, managers and students to create innovation ideas, high value-added products and engineering technical solutions. RTU Faculty of Engineering Economics and Management in close cooperation with the Design Factory has established a student creative laboratory. Its equipment allows students to turn their idea into a product prototype or create prototype blanks or their initial version, which can then be further developed at RTU Design Factory.
RTU actively implements an ambitious program “Innovation Grants for Students” – a set of innovative activities for students, industry and scientists, which promotes mutual cooperation and the development of knowledge-intensive business ideas. Students of all study programs and levels can participate in the program, cooperate with each other, with scientists and industry, receive mentoring, training, scholarships and grants for business development.
RTU Faculty of Engineering Economics and Management is represented in the world’s largest innovation and technology networks, it actively participates in the work of various professional associations. The faculty is also a member of BMDA. The association was founded in 2002 at the initiative of several Baltic universities, business schools, professors and business professionals to establish a regional management development network. The association currently brings together 70 members from 25 countries around the world to create a virtual bridge between Eastern and Western management schools, providing an opportunity for partners to share experiences and adopt best practices.