Innovative product development
The programme is still under development, stay tuned for updates
Capital discount loans for innovative product development projects in a RIS3 area:
- Knowledge intensive bioeconomy
- biomedicine, medical technology, pharmaceuticals
- photonics and smart materials
- smart energy and mobility
- Information and Communication Technologies
The programme will be implemented in partnership with
Latvian Research Council (for the development of innovative products)
the Ministry of Defence (for the development of innovative dual-use products in the field of security and defence)
The programme has been developed in accordance with Cabinet of Ministers Regulation No 24 of 7 January 2025 “Regulations on productivity loans for business innovation”.
For the first 40 working days after the opening of the call for applications, ALTUM will only consider project applications for the development of innovative dual-use products in the field of security and defence. After 40 working days, other applications will also be accepted.
The project must not have started before the application has been submitted to ALTUM.
Loan from EUR 300 000 to EUR 5 000 000
The loan will be open to small and medium-sized enterprises and large enterprises with up to 3 000 employees
The maximum capital allowance is EUR 1.5 million. The capital allowance can be obtained by redeeming up to 30%* of the principal amount of the Altum loan
The business will be monitored post-acquisition to qualify for the capital allowance
*The aid is granted under EC Regulation 651/2014 or alternatively under de minimis Regulation 2023/2831.
