Abstract
The publication comprises the results from the practical scientific investigation to define the profile and distinctions of the Latvian innovative multifunctional material manufacturing industry. The research is carried out by a holistic approach, including expert interviews, qualitative analysis of the official register data, practical survey, and financial data analysis. The paper seeks to give the detailed data on a technological profile of the mentioned representative companies, if there is a synergy or tough competition in the Latvian market. The current research is topical, because it is unique and does not have analogues in Latvia, and the research is timely due to correspondence with recently stated Research and Innovation Strategies for Smart Specialisation in Latvia. The main findings are associated with recognition of the factors that make impact on commercialisation of the finished goods, obtained financial results and planned directions of development of the respondent companies.