The project supports Ideas Cup, an annual innovative business idea competition, various activities in the Student Company (SMU) programme and participation in events: an annual multi-day event with international experts and masterclasses to promote technological interest and creativity, masterclasses, new product creation workshops (hackathons), networking events and other activities. The programme hosts the innovation and technology portal labsoflatvia.com with the aim of informing the public and encouraging new business to be started and developed.

The Ideas Cup competition is open to business ideas from people over the age of 18. SMU activities are open to students with an interest in entrepreneurship. Other activities are open to anyone — natural persons or businesses.

• Ideas Cup competition
  To apply for the Ideas Cup competition, you must fill out an application form (idea description), which will be evaluated by a jury according to the evaluation criteria listed on the competition’s website. Participants in Round 2 of the competition have the opportunity to receive training and participate in webinars on topics related to building and developing a business, as well as the opportunity to present their business idea to the evaluation committee. The authors of the three best ideas will receive cash prizes. The competition is held once a year. The training takes place over several weeks. For more information about the competition, visit the event website www.idejukauss.lv.

• Student CompanyThe Student Company (SMU) is an educational learning enterprise created and run by students. SMU functions as a real business for learning purposes and operates in a real environment with students producing and selling goods or services. To start your own Student Company, the school that the student represents must be on the list of Junior Achievement Latvia member schools.

On 14 November 2016, the Investment and Development Agency of Latvia (LIAA) and the Central Finance and Contracting Agency (CFCA) signed an agreement on the implementation of the project “Innovation Motivation Programme” (identification No. 1.2.2.2./16/I/001).

As part of the support programme Innovation Motivation Programme, LIAA will inform and encourage as wide a section of society as possible to enter into entrepreneurship and implement innovations, amongst other things by awarding prizes to the winners of various competitions.

European Regional Development Fund (ERDF) support for the implementation of the project is planned within the framework of the planning document — Activity 1.2.2.2 “Innovation Motivation Programme” of Specific Objective 1.2.2 of the Operational Programme “Promoting innovation in enterprises”.

• Innovation and technology portal labsoflatvia
• Ideas Cup competition website