Latvia's investment agency opens autumn round for business incubation program
From September 9 to 24, Latvia's LIAA agency is accepting applications for its Business Incubation Program, offering up to 70% funding and expert support. The program already includes 359 companies and has paid out nearly €8 million since it began.
The Investment and Development Agency of Latvia (LIAA) is accepting applications from September 9 to 24 for a new round of its Business Incubation Program. The initiative targets young Latvian-registered micro, small and medium companies, no older than five years, that are developing innovative, technological or export-ready products, as well as creative-industry and dual-use solutions.
Available support
Participants can receive grants covering up to 70% of eligible costs for services, equipment and materials, amounting to several thousand euros across different categories. Companies recognized as innovative can additionally access funding for staff compensation and product or technology development. Beyond financing, participants get consultations from local and foreign mentors, training sessions on business development topics, and access to LIAA's shared co-working spaces and networking events.
LIAA director Ieva Jāgere says that in a company's early years, the ability to quickly test a business model and reach first customers is decisive, and the program brings together funding, expertise and mentor networks to support that process.
Eligibility requirements
Companies must have already developed their product to at least a minimum viable product (MVP) stage. Innovative products must reach technology readiness level four, while export-ready or standard products must reach at least business idea maturity level five. Applicants' tax debt cannot exceed €1,000 at the time of application.
Where and how to apply
Applications are accepted at 20 regional LIAA offices across Latvia, as well as at specialized Creative Industries and Technology offices in Riga. The application platform, liaa.business.gov.lv, will remain open until 23:59 on September 24. The agency recommends consulting with the nearest office before preparing an application and not waiting until the final day to submit.
The program currently has 359 active participating companies, after 83 new members joined during this spring's intake. Since the program launched, participants have received nearly €8 million in support. It is co-financed by the European Regional Development Fund and the Latvian state budget.
