The Ministry of Economics has launched a major support programme aimed at strengthening the international competitiveness of Latvian companies and promoting innovation growth. The programme is primarily aimed at internationalising network members and promoting cooperation between the private, public and research sectors. The programme will provide companies with more than €11 million in funding to strengthen research, develop new products and technologies, and scale up these solutions in foreign markets. This initiative is an important step forward in creating a dynamic and innovative business environment in Latvia.

What is the purpose of the programme?

The main objective of the support programme is to provide companies with the resources they need to:

  • Develop innovative products and technologies – solutions that are competitive in both local and global markets;
  • Strengthen research and development (R&D) – helping to commercialise scientific and technological advances;
  • Promote exportability – by facilitating the introduction of new products in foreign markets and the scaling-up of companies at global level.

This type of funding is for companies that are ready to invest in their future growth, increasing their competitiveness and creating new, sustainable business opportunities. The programme will support both research and development projects and the implementation of technological solutions that can have a significant impact on a company’s operational efficiency and export potential.

Why is this important?

In today’s global economy, innovation and technological development are key factors in determining a company’s growth opportunities. This support enables companies not only to develop new ideas, but also to put them into practice, ensuring the scalability of practical solutions in international markets. It is an opportunity to improve their technological and scientific capacities and to develop products and services that meet the highest international standards.

Who can apply?

The programme is aimed at companies operating in different sectors and willing to improve their products, services or technologies by investing in innovation and research. In particular, companies with a clear plan to develop their export potential and stand out in global competition are encouraged to apply.

This initiative is an important step forward for Latvian companies to make the most of their resources and opportunities. Investing in innovation and new technologies lays the foundations for sustainable development, strengthens the resilience of companies and contributes to economic growth across the country.

How to apply?

If you think this programme can solve your company’s strategic financing needs, contact us and we will help you understand how the programme fits in with your company’s development. There are different programmes available. We will find the best scenario for you during the consultation.