Support for start-up and business development for natural persons and start-up companies. The project, which is jointly funded by the European Union and the Latvian state, has been running since 2016.
There are 12 regional business incubators running in Latvia, five support units and the Creative Industries Incubator in Riga, which specialises in providing support to creative industry companies.
Requirements for applicants to the Business Incubator’s pre-incubation programme:
Requirements for applicants to the Business Incubator’s incubation programme:
The applicant must apply to the incubator whose territory of operation corresponds to the actual activity or registered address of the natural person (in the pre-incubation stage) or company (in the pre-incubation and incubation stages). The Creative Industries Incubator is an exception; it is open to creative companies and business idea developers from all over Latvia. In order to apply to a business incubator, you can use our interactive map of Latvia to find the relevant incubator for your business or company. The applicant then can contact the incubator’s staff to find out more about the process of preparing the application, as well as the procedures and the deadlines
The six-month pre-incubation programme is free and co-financing from members is not necessary.
Support that the pre-incubation programme provides for its members:
Support that the incubation programme provides for its members:
Incubation members can receive financing in two ways:
Financial support can be given for:
On 5 October 2016, the Investment and Development Agency of Latvia (LIAA) and the Central Finance and Contracting Agency signed agreement No. 220.127.116.11/16/I/001 on the implementation of the project “Regional Business Incubators and Creative Industries Incubator” under the Operational Programme “Growth and Employment” until 31 December 2023.
The project has estimated financing of EUR 28 million, made up of EUR 23,900,000 from the European Regional Development Fund (ERDF) and EUR 4,217,648 from the national budget.
The aim of the project is to support the creation and development of new viable and competitive merchants throughout Latvia and to provide natural persons (business idea authors), who are carrying out or intend to carry out economic activity, as well as micro, small and medium-sized entrepreneurs with the necessary business advice, training and activities on general business issues, mentoring support, premises and co-financing through grants for merchants’ operating costs.
12 regional business incubators, 5 support units and a Creative Industries Incubator have been created in Riga as part of the project.
Regulation for the implementation of Operational Activity 18.104.22.168 “Regional business incubators and Creative Industries incubator” of the Operational Programme “Growth and Employment”, Specific Objective 3.1.1 “To promote the establishment and development of SMEs, especially in the manufacturing industry and RIS3 priority sectors”.
Application for support, documents, summary of project implementation results.
Specialising in the manufacture of medical plasters, “NordePlast” produces exportable products by using multi-functional high-performance equipment. By choosing materials from the world’s best manufacturers, products are created that the company successfully exports to various countries of the world. In 2021, in the "Export and Innovation Awards" the company was ranked 2nd in the category “Most Exportable Merchant in the Small Business Group”.
The company deals with the creation of audiovisual content – children’s TV series. One of the most recognisable faces of the company is Tuta the fox who has become a beloved friend to children in Latvia both on TV and in various events.
The smart solution monitors and compiles statistics on the physical achievements of athletes live and archives them. It measures speed, distance, physical preparedness and compiles statistics. Data is uploaded automatically in a wireless mode and in real-time allowing you to focus on what matters most – the game.
Initially developing innovative and unique prototype boat models, the company currently ensures serial production of aluminium boats in Rēzekne. Certified recreational and fishing motor boat models of the “Vizion” brand with full equipment are offered on export markets. The product is unique in the Latvian market and is exported to at least 9 countries.
The company specialises in production and trade of quality modern-design wood, wood-aluminium windows and doors, as well as furniture. An individual part of the company’s work is restoration. The company’s basic philosophy is to restore furniture by using and leaving, as much as possible, anything that is intact, repairing and restoring anything that is damaged and making anew the missing parts.
A technology company that deals with the manufacture of globally innovative video game controllers. After only three months’ work, the company received in 2019 “The Red Jackets” rising export star award “Rising Stars”, after it had, during the first three months of its operation, sent its products to more than 40 countries. The company has achieved its rapid growth by using the possibilities provided by the support instruments offered by LIAA.