14.04.2021 - Economy, ICT

Support available to small and medium-sized enterprises

The Investment and Development Agency of Latvia (LIAA) is announcing a call for proposals “Application of green industry innovation and ICT products and technologies” in the Norway grants program “Business Development, Innovation, and SMEs”. The objective of the call is to increase competitiveness for Latvian enterprises within the focus areas of green industry innovation and ICT.

“The competitiveness of companies often depends directly on how modern technological solutions are used. Most of these technologies are based on green innovations and digital solutions that allow companies to work more efficiently, reduce costs and attract new customers. Climate change is encouraging people to change their habits, and more consumers are paying attention to the way the production process is organized. This program is an excellent chance to change your economic model,” highlights Kaspars Rožkalns, Director General of LIAA.

Support is provided in two areas: green industry innovation and information and communication technologies (ICT).

These areas include creating environmentally-friendly and energy-efficient materials and products, smart mobility, clean transport, management of water resources, automation, robot and sensor solutions, next-generation mobile technologies, artificial intelligence solutions, and other high added-value products and technologies. 

The open call will support the purchase of new equipment, software, licenses, and patents, as well as activities related to the application of a new product and technology.

Within the open call, support will be provided to enterprises registered in Latvia who correspond to the status of small (micro) or medium-sized enterprise. Enterprises may also attract a project partner, who may be any public or private legal entity established in the Kingdom of Norway or Republic of Latvia and has the necessary competence to help apply new products.

The total available funding is EUR 8 495 389, where EUR 5 847 694,50 is dedicated to green industry innovation projects, while EUR 2 647 694,50 is for ICT projects. This funding will support the creation of at least 15 new production plants or their modernization by making production processes more automated and environmentally friendly and at the same time creating at least 50 new jobs and promoting the growth of the turnover and export performance. 

The available grant amount for one project is between EUR 200 000 and EUR 600 000. The maximum aid intensity for small-sized enterprises shall be 55% of the eligible costs, while for the medium-sized enterprises the aid intensity shall be 45% of the eligible costs.

Project applications can be submitted to the LIAA until the 30th of June of this year. The project applications will be evaluated within four months, which will allow to sign the contracts with the project promoters and start to implement projects by the end of this year. 

Source: labsoflatvia.com

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