The new financial technology firm "Nordigen Solutions" will receive support for attracting highly skilled workers

The new financial technology firm "Nordigen Solutions" Ltd. has signed an agreement with the Latvian Investment and Development Agency (LIAA) to receive funding for a new enterprise support program for attracting highly skilled workers, the company's representative Maija Anna Ludberža has informed LETA. Funding has been received in the light of the Law On Aid for the Activities of Start-up Companies, which came into force on 1 January 2017. The purpose of the law is to promote the emergence of fast growing technology companies or new enterprises in Latvia, thereby promoting the development of research and the commercialization of research products (innovative ideas, products or processes). Until now, a single enterprise has received funding from the new enterprise support program. Minister of Economics Arvils Aseradens said that the main goal is to make Latvia become the first choice for startup companies in the Baltic States. "The new business support law is the basis for promoting such companies. By introducing specific support programs tailored to this group of entrepreneurs, we expect that at least 30 of such companies will be created in Latvia each year, which will attract about 160 highly qualified employees," he said. The total funding available for the support program is EUR 1 603 665, which consists of the European Regional Development Fund and national budget resources. As one of the main criteria for awarding programs to new enterprises, a qualified venture capital investor is required to invest at least 30,000 euros in the share capital of a newly created company in each year of submission of the aid application, thereby demonstrating the viability of the business idea that has been put forward.