On February 22 of this year, the first three support programs of the Recovery Fund were opened for businesses:

• “Aid for Creation of Digital Innovation Centers and Regional Contact Points” with the aim to promote European Digital Innovation Centers (EDIC) included in the single EU network.
• “Financial Instruments for Promotion of Digital Transformation of Economic Operators” – aid from “Development Finance Institution Altum” (ALTUM) as a loan with a capital discount.
• “Aid for Digitalization of Processes in Commercial Activity” which will make available to the economic operators aid from the Latvian Investment and Development Agency (LIAA) by the way of vouchers.

The aid programs provide aid to economic operators in the amount of EUR 95.14 million and have been created with an aim to promote digitalization of processes, automation and robotization in commercial activities by investing in technological solutions and innovations, as well as by changing the production processes. 

Digital maturity test and digital development roadmap

To be eligible for receipt of aid, this time, entrepreneurs will start with taking the digital maturity test and development of the digital development roadmap. This is provided by two EDIC centers in Latvia: Information Technology Cluster of Latvia and Digital Accelerator of Latvia.

Digital maturity test will assist in evaluation of the current situation of digital technologies at the company and identify areas where investments are necessary, and development of the digital development roadmap will provide an enhanced assessment on actions the beneficiary of the aid should take to promote the digital transformation and planned outcome of the project.

EDIC will provide the economic operators with advice and mentoring in digital transformation, assist in implementation of the latest digital technologies, processes, products, and services by providing the technical expertise, training, and development of skills, as well as assist the economic operators in preparation of the project applications to receive the aid from LIAA and ALTUM.

Find out more HERE