In the Spring 2026 intake of the Investment and Development Agency of Latvia (LIAA) business incubation program, 297 applications were received—the highest figure in the program’s history. This milestone confirms growing entrepreneurial activity in Latvia and a strong interest among entrepreneurs to develop their ideas with professional support, mentoring, and funding opportunities.
“In this year’s spring intake, we are seeing a significant breakthrough—the number of applications has increased more than 2.3 times compared to the same period last year. This clearly demonstrates that entrepreneurial activity in Latvia is on the rise and that people are increasingly choosing to realize their business ideas,” emphasizes Ieva Jāgere, Director of LIAA.
The LIAA business incubation program is one of the primary instruments for the development of new companies, providing both financial and practical support during the early stages of growth. Within the program, entrepreneurs can receive co-financing of up to 70% for the purchase of various services, including marketing, prototyping, design, IT solutions, and other activities critical to business development. To date, the support paid out to incubation companies has reached more than €4.35 million.
In addition to financial support, participants are provided with targeted training, individual mentoring, and access to LIAA’s network of experts and international contacts. The program is implemented throughout Latvia via LIAA’s network of regional representative offices, thereby promoting business development not only in Riga but also in the regions. Applications for the incubation program and other LIAA support instruments are available on the unified platform for entrepreneurs at liaa.business.gov.lv.
Economic Impact and Growth
The economic contribution of the program confirms its efficiency:
- Total turnover of incubation companies in 2024 reached €35.1 million.
- Export value accounted for more than €16 million of that turnover.
- Tax contributions to the state during the incubation period exceeded €10.3 million.
“Latvia's economy needs more companies that create high added value and export. These results show that the incubation program works—real businesses with a measurable contribution to the economy are created from ideas. State support must be targeted and demanding; we invest in those who are ready to grow, compete internationally, and provide a return to the Latvian economy,” emphasizes Minister of Economics Viktors Valainis.
“These results clearly show that the incubation program is not just a support tool—it is an investment in the Latvian economy. Companies that go through incubation create jobs, develop exports, and significantly increase tax revenues for the country,” adds I. Jāgere.
Business incubation support is available within the framework of the Small and Medium-sized Enterprise (SME) Innovative Business Development Program, co-financed by the European Regional Development Fund and the Latvian state budget.