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.
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. 18.104.22.168./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 22.214.171.124 “Innovation Motivation Programme” of Specific Objective 1.2.2 of the Operational Programme “Promoting innovation in enterprises”.
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.