The BIP is awarded to the companies for innovative, economically successful products, services or business models introduced to the market during the last three years.

The BIP is awarded only to:

• company employing up to 250 persons with an annual turnover less than €50M;
• national-capital-based (at least 51%) company registered in a Baltic State.

The basic criteria for assessing the applications for the BIP:

• competitive advantage of the product/service/process: uniqueness, added value, competitiveness with analogues, price, time advantage;
• market potential: number and size of the target markets, potential market growth and target shares, export potential;
• financial data: share and absolute numbers in the turnover generated by the new products/services.

The products, services or business models of the company nominated for the BIP must have been developed at least partially by the company itself. Innovative products, services or business models developed jointly by several Baltic partners from two or three countries are considered as having extra value from the viewpoint of the BIP.

In order to be nominated for the BIP, the company should fill in the application form and submit it by September 14^th2018 to the national representative of Baltic Association of Science/Technology Parks and Innovation Centers:

• Estonia: Martin Goroško, martin.gorosko@tehnopol.ee, Phone: +372 56 800 228
• Latvia: Ints Viksna, iviksna@edi.lv, Phone: +371 6755 8795
• Lithuania: Tomas Černevičius, tomas.cernevicius@kaunomtp.lt, Phone: +370 614 69677

The winner will be announced during the 37^th Baltic Assembly gala dinner, which will be held on 25^thof October 2018 in Vilnius, Lithuania.