A greater focus on startups in Latvia
The Latvian cabinet of ministers accepted new regulations that will help startups with growth potential to gain more access for training, events and seminars. Moreover, it will provide access to private investors and open investment opportunities. “Economic development is directly linked with creation of new jobs. The state has to motivate and encourage people, especially young people, to start their own business, so-called start-up businesses,” said Minister of Economics, Vjaceslavs Dombrovskis. While the cabinet will define the criteria for the distribution of funding, the money will be provided by a fund from Latvian Guarantee Agency (LGA). About 500.000 euros shall boost Latvia’s startup system.