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. 3.1.1.6/16/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.
Application for support, documents, summary of project implementation results.