In the framework of the Norwegian financial mechanism’s “Business Development, Innovation and SME’s” programme, 19 projects have received support through the open call, ranging from 223 to 599 thousand euros. In the programme administered by the Latvian Investment and Development Agency (LIAA), the companies that have received support will introduce new products in production, automate production processes and perform research activities in cooperation with scientists from Norway and Latvia.
“This is one of the few programmes where you can attract co-financing for production machinery, and competition was stiff. At total of 63 companies joined the open call. 18 of the 19 who got funding also have been able to find partners from Norway, making it possible to develop new competences and continue to work on partnership projects in the future. High-tech products already occupy 20% of Latvia’s export structure, and the interest that businesses show in implementing new technologies is proof that this sector will only grow,” highlighted Kaspars Rožkalns head of LIAA.
According to the rules of the open call, the total amount of co-financing available to winners is 8.5 million euros, which is intended to fund 45 to 55 percent of the total cost of their projects.
SIA EKJU, one these companies, has received 433 thousand euros in co-financing to conduct a special study of innovative methods for making garden furniture. Its board chairman Māris Danieks said that he was happy with this opportunity making it possible for Latvian businesses to conduct studies in conjunction with scientists from Norway and Latvia, which will result in better-researched solutions. “This will enable us to make the right choices buying production machinery, which will then let us better make our products, and increase our output. Through their involvement in the project, our staff will gain new knowledge in process management, in analytics and science, thus significantly strengthening their competence,” M. Danieks said, encouraging businesses to participate in Norwegian funding programmes.
Meanwhile NDB Timber will use this project to introduce the manufacture of a new group of products. Specifically, using waste cuts of wood in combination with a Class A solid-wood lamella to make a product with physical and visual features comparable to high-quality solid wood finishing materials. Implementing the new technology will result in less environmental impact in the choice of materials, in the manufacturing process, and throughout the lifecycle of the product. The manufacturing process uses low-value wood, which would have otherwise been consumed as fuel. The company received 599 thousand euros as co-funding for the project, and its total cost will be 1.1 million. The project will take place in conjunction with its partner, the Norwegian Institute of Wood Technology.
SIA CrossChem has received a grant of 223 thousand euros, which it will invest in making its new product, AdBlue® EVO. The total project cost will be 495 thousand euros. CrossChem board chairman Ričards Andersons: “The support we’ve received through the Norwegian Financial Mechanism will make it possible for us to set up a specialized laboratory necessary for making AdBlue® EVO, and to buy latest-generation equipment for our production processes.”
The following companies have received funding as part of the open call “Application of green industry innovation and ICT products and technologies”: CrossChem, EHT FABRIK, Transportation Technology Systems, AM Energy, HansaMatrix, KDW WERKE Baltics, Dati Group, SAF Tehnika, NDB Timber, SMW Group, Būve 55, Madara Cosmetics, Metsatek, EKJU, VUDLANDE, DLLA, ‘Jaunmīlgrāvja ostas kompānija’, VIZULO, Mežroze.
The purpose of the funding programmes conducted by the Norwegian Financial Mechanism is to encourage the creation of added value and sustainable development in Latvian businesses. The programme provides funding to small and medium enterprises in three sectors: green innovations, information and communication technologies (ICT), and welfare technologies. Another, the pre-defined project is taking place at the same time: the Technology Business Centre. LIAA conducts the project with its partners: University of Latvia, Riga Technical University, and Riga Stradiņš University. The Technology Business Centre provides companies with in-depth knowledge of how to develop innovative ideas, create product prototypes and promote products on the market. It delivers high-quality training to its clients, as well as product and service prototyping services, combined with industry expert advice.
The programme’s total funding earmarked for supporting businesses is 14.7 million euros, of which Norway provides 12.5 million, and Latvia, 2.2 million.
LIAA manages the programme, which is to continue until 30 April 2024.
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