The information was translated using the ChatGPT service.
"Admission of new participants in LIAA business incubators is planned for the beginning of 2024. Since September 2016, 4094 companies and business idea authors have been involved in the Latvian Investment and Development Agency (LIAA) business incubator community. Of these, 921 have used the business incubation program, while 3173 have used the pre-incubation program.
"This year marks the end of the previous EU budget planning period's business incubator program, which has encouraged many to start their businesses, create products, and enter export markets. In just a few years, we've seen companies with no turnover become significant exporters. Notable examples include the unique design game controller manufacturer "Azeron", children's furniture manufacturer "Ette Tete", unique piano designer "Klaviņš piano", and "Ārpus" craft brewery, among many other successful companies," emphasizes Dace Vanaga, Director of the LIAA Business Incubator Department.
In 2022, the total turnover of business incubator companies reached 86.85 million euros, with 11.4 million euros paid in taxes and 9.65 million euros attracted in investments. More than 50% of the turnover of companies working in the incubators came from export income.
The new EU budget planning period's business incubator support program will be available at the beginning of 2024, when new admissions are planned to be announced. As before, entrepreneurs can apply for both pre-incubation and incubation support. A novelty will be support activities for business idea creation or ideation.
The regional network of LIAA business incubators will also be preserved, transforming into LIAA representations offering a wider range of services. The plan is to maintain the existing LIAA regional network and representation in Daugavpils, Liepāja, Jelgava, Jūrmala, Ventspils, Valmiera, Rēzekne, Ogre, Kuldīga, Madona, Sigulda, Talsi, Saldus, Tukums, Bauska, Smiltene, Cēsis, Alūksne, Gulbene, and Jēkabpils. In Riga, there will be a Technology Business Incubator and a Creative Industries Business Incubator.
The main objectives of the pre-incubation program are to develop a prototype of your product or service, prepare for its commercialization, and prepare entrepreneurs for participation in the incubation program by providing specific training in business development, market research, innovation enhancement, driving sustainable business, and increasing technology intensity.
The incubation program will offer the opportunity to receive co-financing for the acquisition of necessary services for business development, such as accounting, renting space, design, marketing, technological consultations, certification, laboratory costs, production equipment, machinery, and raw material purchases. Funding will also be available for prototyping and technology development for innovative companies.
Newly established companies, not older than five years, can apply for the incubation program.
A new activity called "idejošana" will be introduced, which is the process of generating new business ideas that can then be implemented using the support options offered by the incubator program.
The aim of the LIAA business incubators is to support the creation and development of new, viable, and competitive companies. LIAA Business Incubators are financed by the ERDF project "Regional Business Incubators and Creative Industries Incubator"."