In the spring 2026 intake of the Latvian Investment and Development Agency (LIAA) business incubation programme, a total of 297 applications were received, marking the highest number in the programme’s history. This reflects growing entrepreneurial activity in Latvia, as well as increasing interest among entrepreneurs in developing their ideas with professional support, mentoring, and access to funding opportunities.
“In this year’s spring intake, we are seeing a significant breakthrough – the number of applications has increased by more than 2.3 times compared to the same period last year. This clearly demonstrates that entrepreneurial activity in Latvia is growing and that people are increasingly choosing to pursue their business ideas,” emphasizes LIAA Director Ieva Jāgere.
The LIAA business incubation programme is one of the key instruments for the development of new enterprises, providing both financial and practical support at an early stage of development. Within the programme, entrepreneurs can receive co-financing of up to 70% for the acquisition of various services, including marketing, prototyping, design, IT solutions, and other activities critical for business development. To date, more than EUR 4.35 million in support has been granted to incubation companies.
In addition to financial support, participants are provided with targeted training, individual mentoring, and access to LIAA’s expert network and international contacts. The programme is implemented across Latvia through LIAA’s regional network, thereby promoting entrepreneurship not only in Riga but also in the regions. Applications to the incubation programme and other LIAA support instruments are available on the unified business platform liaa.business.gov.lv.
The programme’s economic impact confirms its effectiveness – in 2024, the total turnover of incubation companies reached EUR 35.1 million, of which more than EUR 16 million was generated from exports. At the same time, during the incubation period, companies have paid more than EUR 10.3 million in taxes to the state.
“We need more companies in Latvia’s economy that create high added value and export. These results show that the incubation programme works – real businesses with measurable economic impact are created from ideas. State support must be targeted and demanding – we invest in those who are ready to grow, compete internationally, and contribute to Latvia’s economy,” emphasizes Minister of Economics Viktors Valainis.
“These results clearly show that the incubation programme is not just a support instrument – it is an investment in Latvia’s economy. Companies that go through incubation create jobs, develop exports, and significantly increase tax revenues for the state,” adds I. Jāgere.
Business incubation support is available within the framework of the SME innovative entrepreneurship development programme, co-financed by the European Regional Development Fund and the state budget of Latvia.
