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About the Accelerator Funds Programme

Business Start-Ups

It is planned that the funding of accelerator funds intended for the initial stage of the life cycle of companies, i.e. development of an idea and product, creation and development of companies, will be available to innovative start-ups (performers of economic activities) starting from the second half of 2017. 

  • It will be possible to apply for the acceleration programme funding with three accelerator funds, which will be created by financial intermediaries selected as the result of the procurement procedure organised by ALTUM.  

     

  • The public procurement for the selection of financial intermediaries will be announced in January/ February 2017 and the planned deadline for starting the operation of accelerator funds is the second half of 2017.

  • Accelerator funds will make investments in innovative start-ups at an early development stage with a great growth potential and their funding will be divided into two stages — in the form of pre-seed and seed capital investments. 

  • Pre-seed capital investments, i.e. up to EUR 50,000 per company, are intended for funding the creation of a company, including development, study, assessment and approval of the product and the model of economic activity. 

  • Seed capital investments, i.e. up to EUR 250,000 per company, are intended for projects that will have successfully completed the acceleration stage and will be ready for the further funding of company growth, including development of the product and the model of economic activity. 

     

  • Pre-seed and seed capital investments can be made as investments in the company’s equity capital in the form of quasi-capital or loan. 

  • The funding of EUR 15M has been allocated by the European Regional Development Fund for the implementation of the accelerator funds programme, within the framework of which each accelerator fund will receive EUR 5M.

  • Additionally newly-created accelerator funds will attract funds of private investors in the amount of at least 10% for making seed capital investments, while early-stage, i.e. pre-seed, investments will be fully financed from public funds.

  • The programme is aimed at facilitating the creation, growth and competitiveness of innovative start-ups (performers of economic activities) by providing acceleration services and funding for business-oriented entrepreneurship projects with a technological or industrial failure risk.

  • Support in the form of pre-seed money investments will be provided as support for the commencement of operation in accordance with requirements set forth in Article 22(3) Clauses “a” and “c” of Commission Regulation No. 651/2014. 

  • Support in the form of seed money investments will be provided as support for venture funding in accordance with requirements set forth in Article 21 of Commission Regulation No. 651/2014.

  • Programmu regulējošie 12.04.2016 MK noteikumi Nr.226 “Noteikumi par akcelerācijas fondiem saimnieciskās darbības veicēju izveides, attīstības un konkurētspējas veicināšanai”.