Amendments to startup law an "urgent priority"

Startup entrepreneurship advocates Labs of Latvia have prepared a brief overview of what to expect in 2018.

Citing Economics Ministry information, they list the main tasks for the coming twelve months as including the opening of a representative office in Silicon Valley and the fact that "alterations in the startup law has been defined as an urgent priority, and the Ministry of Economics has stated that they hope to shortly hand in changes to the law for parliamentary consideration soon."

"Changes will include expanding the definition of an investor, to allow startups with business angel and accelerator fund investments to qualify for benefits emerging from the startup law. Additionally, the length of the period of support from the law will be elongated, allowing startups with investments of EUR 150 000 to qualify for two periods of support, rather than just one," Labs of Latvia said.

The startup law was passed in November 2016.

No deadlines or estimates of when such amendments might become law are included.

You can read the law in English as it currently stands HERE.

 

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