Aid to operators for the development of new products

Latvian Investment and Development Agency (LIAA) provides support to small and medium-sized enterprises for the development of new products and technologies within the framework of the innovation voucher programme. An innovation voucher company can be used to finance activities related to the development of 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.
“The aid instrument applies to new products, but it also allows the further development of products already in production — for example by the technological extension of their term of validity, by improving durability or other characteristics”, explains the Director of THE LIDA technology transfer department Edgars Babris. He stresses that the aid mechanism is simple and fast, designed to be as friendly as possible.
“Before submitting the application, THE IDA specialists shall 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. LIAA works in close cooperation with service providers, knows their competencies, available equipment, staff qualifications and experience”, says Edgars Babris.
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 can 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 sites - patent patent, design and topography of semiconductor products.
Funding for the “innovation voucher support services” programme 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