At its meeting on 7 November this year, the Cabinet of Ministers approved a support programme developed by the Ministry of Economics for improving technology transfer systems for businesses. Through this, funding will be made available to commercial enterprises for the development of new products or services, the recruitment of highly qualified staff and the development of innovative procurement.
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The total funding for the support programme is 26,548,890 euros. The programme will be implemented by the Investment and Development Agency of Latvia (LIAA).
Within the framework of the programme, funding will be directed towards:
- innovation vouchers for micro, small and medium-sized enterprises;
- the recruitment of highly qualified staff for start-ups;
- new products developed within the scope of innovative procurement and their commercialisation.
Within the framework of the programme, LIAA will also provide various activities related to fostering cooperation between research organisations and commercial enterprises, and to building Latvia's image abroad in the field of innovation.