The Norwegian Financial Mechanism Entrepreneurship Programme currently has 45 projects under implementation, focusing on the introduction of new technologies, digitisation and improving quality of life.
“At a time when the economy is slowing down, it is crucial to secure additional investment and the companies that have received support from the Norwegian grant programme are continuing to invest. Investments are being made both in the introduction of new technologies to make the production process more efficient and in the development of innovative products such as the scent recorder,” says Kaspars Rožkalns, Director General of LIAA.
The total amount of support currently approved for entrepreneurs is EUR 11.3 million, of which 19 projects are being implemented under the open tender. 16 projects are under implementation in the area of green innovation and ICT, while 10 projects are under implementation in the area of quality of life technologies.
The Business and Innovation programme supports SMEs, and NDB Timber, BeTriton and Murins Startups were among the first to launch projects.
NDB Timber plans to purchase five new production machines with the support of the project, which will enable it to start production of a new product – composite beams. The composite beams will be used to produce frames for the paintings, canvases and picture frames. Approximately 30% of the production will be exported to European and Asian markets. The new products will create 4 new jobs and reduce CO2 emissions by 170.5 tonnes per year. The project is implemented in cooperation with the Norwegian partner – Institute of Wood Technology (Treteknisk). The company has already delivered 4 machines, with the purchase of the last machine and the introduction of the new product into production remaining. The total cost of the project is EUR 1 245 661.61, with support funding of EUR 599 932.02.
BeTriton, on the other hand, is implementing the project “Development of a new sustainable tourism and mobility solution “BeTRITON DIY”” under the Small Grants Scheme for Green Innovation. The grant will support the development of a new type of self-constructed tourism and mobility tool that combines the features of a small campervan, a tricycle and a boat in a single product. When purchasing the product, the customer receives the components and raw materials for the product together with assembly instructions and assembles the product on a DIY basis. The project is implemented in cooperation with the Norwegian partner – NOVELTEX OSLO. In less than a year, the company has already produced the first prototype, which is ready to be tested under real conditions. Work is now continuing on improving the product to make it easier to assemble at home. In 2023, work will continue on two more versions of the product, and in 2024, the first deliveries to customers are planned. The project has received support of EUR 74 550 and the total cost of the project is EUR 106 500.00.
One of the most successful projects in the field of assistive technologies for quality of life is that of Murins Startups, which aims to develop a scent recording device. This pilot project is being implemented with the expertise of scientists from the University of Latvia and the University of Porto in Portugal. Other research and design development companies are also to be involved. The project will also involve the development of a patentable prototype of a scent recording device. This will be a mobile device that will allow users to collect scents, store them in special scent capsules and spray the stored scent for reuse or transfer to other users. The device will allow to change the intensity of the scent to be sprayed and to erase scent from reusable scent capsules. The scent recorder will be the first device available to the general public that will allow consumers, in particular visually impaired people, to easily and conveniently record scents and gain additional impressions of distant places, nature and things. The basic use of the device is to enable users to record scents associated with positive memories. Thus improving the user's emotional state. Sandris Mūriņš, the owner of the company and the initiator of the idea, says about the project: “We have developed a scientifically sound methodology for testing the scent recorder with the Perceptual and Cognitive Systems Laboratory at the University of Latvia, and have also started to develop a sorbent (chemical) for preserving scents with the University of Porto. Now it is important to find the most suitable sorbent to build an engineering solution around it, a user-friendly design and to improve the technology based on scientifically valid testing results. This will lead to the creation and refinement of a prototype device.” The total cost of the project is EUR 168 849.94, with support funding of EUR 113 994.96.
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 quality-of-life technologies. Another, previously planned 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 total funding of the programme administered by the Investment and Development Agency of Latvia (LIAA) is EUR 14.7 million, of which Norway's grant is EUR 12.5 million and Latvia's co-financing is EUR 2.2 million. The funding allocated to innovation projects is EUR 11.3 million, while the rest is earmarked for the implementation of the Technology Business Centre activities and other costs related to the implementation of the project.
LIAA manages the programme, which is to continue until 30 April 2024. For more information about the implementation of Norwegian grants and open project tenders, visit https://eeagrants.lv/