Support for creating new techologies and products
Description
Brief description of the instrument and its modus operandi
The aim of this program is to support research and innovations and it can been done with co-finance projects with connections to research and innovations. Main sectors which are supported are: industrial researches, experimental developments and innovative researches. This program are mainly for SMEs (small and medium enterprises) and personas who are just starting an entrepreneurship. These are sectors which commercial banks are not very intrested to support in Latvia if only it is a very good idea, which will bring a lot of money in future.
Which problem the instrument is supposed to solve?
This program are instrument for supporting entrepreneurs for whom commercial banks are not very intrested for giving support. This program is trying to solve it.
Purpose or main objective / overall goal of the instrument?
The aim of this program is to support research and innovations and it can been done with co-finance projects with connections to research and innovations. Main sectors which are supported are: industrial researches, experimental developments and innovative researches. This program are mainly for SMEs (small and medium enterprises) and personas who are just starting an entrepreneurship. These are sectors which commercial banks are not very intrested to support in Latvia if only it is a very good idea, which will bring a lot of money in future.
Side objectives/goals of the instrument?
Side objectives are: increase employment in Latvia, rural areas are developing, companies are paying taxes to state budgets, products with high added value are created and others.
Innovation content or potential of the instrument?
improve the production efficiency, quality, or marketing of NWFPs and many others.
Which laws and regulations support the implement of this instrument?
Rules of Cabinet of Ministers "Support for creating new products and technologies".
Which organizations are involved in the operationalization of the instrument?
"Investment and development agency of Latvia", Ministry of Finance, Ministry of Economics and bank "Altum"
What roles do these organisation play in each of them?
Investment and development agency of Latvia are managing this program and also monitoring, Ministry of Finance are managing money and also has monitoring functions, Ministry of Economics are cooperation partner with Investment and development agency of Latvia.
How the monitoring is ensured?
Investment and development agency of Latvia are monitoring this program. They are looking if all promised facts are done, if all payments are correct and what was the result of company which had these finance, what was the outcame-new product, new business model, new experiment or other.
Have any of the items mentioned above changed since the instrument entered into force?
No
Is there any qualitative or quantitative study of the impacts of the instrument?
Yes, please specify
| Instrument | |
| Year | 2008 |
|---|---|
| Products | All NWFP |
| Countries | |
| Regions (NUTS 2) | Latvia |
| Geographical scope | National |