The new voucher programme has already concluded first contracts for more than 100 000 euro for the development of new innovations

The Latvian Investment and Development Agency (LIAA) has entered into first contracts with six companies in the new innovation voucher programme for the creation of new products with a total programme co-financing of more than 100 thousand euros.
Contracts were concluded with SIA “Cubies” on the development of improved interactive toy for children, SIA “Sonocase” on the development of a portable speaker - mobile phone holder, with SIA “Smartfoody” on the development of a plant-based protein bar, with SIA “Scandi Home Latvia” on the establishment of energy efficient wall and roof panel, with SIA "“ Hackmotion ”on the development of a worn sensor system for human entry and motion monitoring and SIA“ Brum Brum ”on the improvement of the adjustment and support elements for the child balance wheel.
In February of that year, an innovation voucher support programme for small and medium-sized enterprises for the development of new products and technologies was launched. This is one of the ways in WHICH THE IDAL supports the implementation of innovative ideas, jointly contributing to the growth of Latvia's economy.
“We are pleased with the first ideas of the projects presented, as they are indeed innovative and will support small and medium-sized enterprises in the development of new products and technologies. For the time being, there are applications from Riga and Riga region - Jurmala and Babite companies, but we hope that companies in regions will also be equally active," says Edgars Babris, Director of THE LATVIAN Technology Department. The project implementation time is different for each company, ranging from three months to one year.
The innovation voucher company can be used to finance new products and technologies. A new product in this program is goods and services that are completely new or have improved functional characteristics and intended use, while new technology in this program is a change in technology, equipment and software that improves the process or methods of providing production or service.
Before submitting the application, THE LIDA specialists provide advice to the merchant, helping to better formulate existing needs, seek cooperation partners and assist in the preparation of the application form.
At the time of implementation of the project, THE LIAA actively helps the merchant – ensure both the necessary procurement procedures, organise contracts with the selected service providers, advise on the documentation of the processes and prepare the report.
Within a month after receipt of the application, THE LIAA shall assess it and invite the merchant to enter into a contract regarding the granting of the aid. In the event OF non-material deficiencies identified BY THE IDA in the evaluation process, they may be avoided until the conclusion of the contract, i.e., due to minor formalities, the application is not rejected. It is important that the innovation voucher facilitates the cash flow of the company, as the merchant only covers his share of the full price of the service, while THE LIAA pays the remainder of the service price by transferring it to the service provider. The aid intensity per project is 60% of eligible costs up to a maximum of EUR 25 000.
Innovation vouchers may be used for the following services: feasibility studies, industrial research, experimental development (including prototyping), development of industrial design of products, testing and certification of new product or technology, and strengthening industrial property rights for such industrial property objects - patent patent, design and topography of semiconductor products.
Funding for innovation vouchers in the amount OF EUR 3 741 885.00 is allocated from the European Regional Development Fund project “technology transfer programme” (project identification number 1.2.1.2/16/I/001).
More information on the innovation voucher and other support programmes is available IN THE www.liaa.gov.lv website “Funds” and customer service department in Riga, Pērses street 2, e-mail: questions @liaa. gov.lv
Other information:
LIAA Public Relations Division
Phone: 67039472
Email: prese@liaa.gov.lv