An additional 2 million euros are allocated for the development of dual-use products and technologies, according to the Ministry of Economics.
The goal of the funding is to ensure effective and continuous state support in the current volatile market conditions, where entrepreneurs need to reorient markets and promote exports by constantly seeking new supply and sales channels.
Under this initiative, businesses will be able to:
- receive grants for participation in international events and platforms;
- develop publicity and marketing materials;
- create and purchase market research reports in target markets;
- evaluate compliance of production facilities and products;
- participate in international industry associations;
- recruit foreign experts in relevant industries;
- design and register trademarks and designs;
- participate in international trade missions organized by the funding recipient and Latvian state officials, both in-person and online;
- organize international sports events and exhibitions.
Additionally, the Latvian Investment and Development Agency (LIAA) will provide consultations through Latvia’s external economic representatives, organize business and export promotion events both in-person and online, support participation in national stands, adaptation of products or services, and provide consultations on export with the aim to establish business contacts abroad.
Further funding of 2 million euros is allocated to ensure business incubation for companies developing new dual-use products and technologies. This involves collaboration between LIAA and the Ministry of Defense in evaluating applications.
