Facilitated application for state aid for start-ups

19-06-2018

In accordance with the amendments to the Law On Aid for the Activities of Start-up Companies aimed at promoting the emergence of fast growing technology companies or start-ups in Latvia, thus contributing to the development of research and the commercialization of research products, on 19 June 2018 the Cabinet of Ministers approved amendments to the Cabinet Regulation No. 74 of February 7, 2017, “Procedure for the Application for and Administration of Start-up Support Programs”.
 

The amendments to the Cabinet of Ministers regulations reduce the administrative burden and the procedures applicable to the application procedure. This will make it easier for start-ups to apply and reduce the time required to get effective support for promotion of their business.
 

Cabinet Regulation No. 74 of 7 February 2017 “Procedure for the Application for and Administration of Start-up Support Programs” specifies the form and content of the application and related documents for participation in the support programs specified in the Law On Aid for the Activities of Start-up Companies.
 

We invite all start-ups, their representatives and investors who make early-stage investments in start-ups, to apply for a Start-up Support Program or contact the Investment and Development Agency of Latvia for advice on support options! More information on the Start-up Support Programme can be found in the website of the Investment and Development Agency of Latvia. Support under this programme is provided by the funding from the European Regional Development Fund and state budget.
 

According to the data from the Association of Latvian Start-ups Startin.lv, currently there are about 320 start-ups in Latvia that have been able to attract investments in the amount of more than EUR 210 million.

Last update:    08-11-2018