Spark Innovation in Latvia: LIAA Innovation Voucher Grants (Up to €25,000) for SMEs

Unlock R&D Collaboration with LIAA Innovation Vouchers

Latvian SMEs seeking to transform bold ideas into market-ready products now have a powerful tool at their disposal: the Innovation Voucher Support programme from the Latvia Investment and Development Agency (LIAA). This grant initiative offers four types of vouchers, from €5,000 to €25,000, to fund collaborative projects between businesses and scientific institutions. With a rolling application deadline until 30 April 2027, the programme provides a flexible, low-risk path to innovation.

Why Innovation Vouchers Matter

For many small and medium-sized enterprises, the cost of engaging research institutions for product development can be prohibitive. Innovation vouchers lower that barrier, enabling companies to access specialised expertise, cutting-edge equipment, and fresh scientific perspectives. By funding direct collaboration between SMEs and universities or research centres, LIAA helps translate academic knowledge into commercial success.

Four Voucher Types to Match Your Needs

The programme is structured around four distinct voucher categories, each designed for a specific stage or type of innovation:

1. Introductory Voucher (up to €10,000)
Perfect for early-stage exploration. Use this voucher to conduct a feasibility study, assess technical viability, or define a research question with a scientific partner. It’s an ideal starting point for companies new to R&D collaboration.

2. Classic Voucher (up to €25,000)
The flagship option for developing a new product, technology, or process. Classic Vouchers cover substantial R&D work such as prototyping, testing, and pilot production. This is the go-to choice for turning a concept into a tangible prototype.

3. Design Voucher (up to €5,000)
Focused on industrial design and user experience. Use this voucher to refine the form, function, and aesthetics of your product, ensuring it meets market expectations. Even a small design investment can significantly boost commercial appeal.

4. Attraction of Highly Skilled Workers (up to €25,000)
This voucher supports bringing specialised researchers or engineers into your company for a defined project. It’s ideal when you need deep technical expertise that your current team lacks, enabling knowledge transfer and capability building.

Who Can Apply?

Eligibility is straightforward:

• Your business must be registered in Latvia.
• You must be a micro, small, or medium-sized enterprise (as defined by EU standards).
• You must partner with an eligible scientific institution (university, research institute, or technology centre recognised by LIAA).

The programme explicitly targets cooperation between merchants (companies) and researchers, so a formal agreement with a scientific partner is required before applying.

What the Funding Covers

Typical eligible costs include:

• Personnel costs for researchers and technical staff
• Consumables and materials used during the project
• Equipment depreciation or rental (limited proportion)
• Subcontracting to third parties (within limits)
• Travel directly related to the project activities

Importantly, the voucher is a grant - it does not need to be repaid if the project is completed according to the agreed plan. Funding is provided as a reimbursement of eligible costs incurred.

How to Apply (Step-by-Step)

1. Identify a scientific partner - Browse LIAA’s list of recognised research institutions or contact your local university’s technology transfer office.
2. Define your project scope - Work with your partner to outline objectives, milestones, and budget.
3. Submit an application via the LIAA business portal (https://liaa.business.gov.lv/pakalpojumi/inovaciju-vauceru-atbalsts).
4. Await evaluation - LIAA reviews proposals on a first-come, first-served basis while funds remain.
5. Implement the project (typically 6-12 months) and report on outcomes.

The rolling deadline means there is no fixed cut-off date - but funding is limited, so early application is strongly advised.

Success Story: From Lab to Market

Consider a Riga-based medical device startup that used a Classic Voucher to collaborate with the Institute of Solid State Physics. Together, they developed a prototype sensor for non-invasive glucose monitoring. The voucher funded materials, testing, and the researcher’s time. Within 18 months, the startup had a working prototype, attracted follow-on investment, and filed a patent. The Innovation Voucher was the catalyst that turned a university discovery into a commercial opportunity.

Why Act Now?

With a total programme budget allocated by LIAA, funds are disbursed on a rolling basis. Early applicants not only secure funding faster but also gain a head start on their innovation journey. The programme runs until 30 April 2027, but popular voucher types (especially Classic and Attraction of Highly Skilled Workers) may be fully subscribed before that date.

Complementary Funding Sources

If you need additional support beyond €25,000, consider combining the Innovation Voucher with other Latvian or EU programmes:

• Horizon Europe SME Instrument - For high-risk, high-impact innovations (grants up to €2.5 million).
• European Regional Development Fund (ERDF) projects - Larger collaborative R&D grants.
• Altum loans - For scale‑up and commercialisation phases.

Final Thoughts

The LIAA Innovation Voucher programme is a strategic opportunity for Latvian SMEs to de‑risk R&D, accelerate product development, and strengthen ties with the research community. Whether you are exploring a new idea (Introductory Voucher) or bringing a polished design to market (Design Voucher), there is a funding option tailored to your stage.

Take the next step: Visit the LIAA portal today, find a scientific partner, and submit your application. Innovation doesn’t have to wait - and with these vouchers, you can start tomorrow.