Creative Business Incubator

The Investment and Development Agency of Latvia.
Key objectives of the measure:
The measure aims to facilitate the emergence of new, viable and competitive businesses and their development, providing them with the entrepreneurial environment, advisory services and access to finance. Creative Business Incubator will start its operation in mid-2016 in Riga, Latvia and will be running under this programme until 2023.
Scope of the measure:
Nature of the measure:
financial, institutional
Main feature of the measure:

The following business support activities will be carried out by the operator of the incubator: financial and consultative support to start-up and develop creative businesses, business promotion events and premises. Eligible costs for creative businesses in the incubator: cost of services; lease of premises, maintenance and utility costs; equipment purchase cost of EUR 5 000 per beneficiary; remuneration and state social insurance costs; purchase costs of materials and raw materials.

Results expected through the implementation of the measure:

40 creative business companies supported until 31 December 2023.

Financial resources allocated to implement the measure:

Total amount of financing is EUR 7 058 823. ERDF funding is EUR 6 000 000 euros.

Goal(s) of UNESCO's 2005 Convention
Cultural Domain(s)