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Who will be able to receive funding

Business Start-Ups

Acceleration funds will be awarded to innovative, economically viable companies and enterprises in an early stage of development

Pre-seed money funding will be granted to

  • micro and small enterprises and agricultural services cooperatives, who have benefited from the services of the acceleration programme
  • companies whose pre-seed investment entrepreneurship project is based primarily in Latvia
  • companies registered in the Commercial Register who started their business activities, including activities outside Latvia, no more than three years ago

Seed money funding will be granted to

  • micro, small and medium-sized enterprises and agricultural services cooperatives, who have received pre-seed funding from the acceleration programme
  • companies acting primarily in the European Union; however, at least 50% of the seed money investment will be given to companies primarily conducting business in Latvia 

Funding will not be granted to

The following businesses and sectors:

  • gambling and betting
  • trade in alcoholic beverages, weapons and ammunition
  • real estate operations, including the purchase of developed and non-developed land
  • manufacturing, processing and marketing of tobacco and tobacco products
  • investments in airport infrastructure, unless they are related to environmental protection, discontinuation of nuclear power plant exploitation, or building
  • investments to reduce greenhouse gas emissions, unless redirected to facilities used for research, development and testing of new products and processes
  • activities connected with exports to third countries or member countries (support directly linked to the quantities exported, the establishment and operation of a distribution network or other current expenditures related to export activities)
  • support granted on the condition that domestic goods are used instead of imported goods

Acceleration funds will not be granted to a company if:

  • its economic activity is terminated
  • the criteria for initiating insolvency proceedings are met
  • insolvency proceedings have been pronounced by a court judgement, or if a legal protection process or an out-of-court legal protection process is being implemented
  • it finds itself in financial difficulty