About acceleration funds
The acceleration programme — EUR 15 million is allocated to innovative start-up companies for the establishment and development of business ideas, companies and products, with the aim of promoting their growth and competitiveness, especially with regards to projects with a technological and industrial focus
Funding is available from three acceleration funds, selected in a public procurement:
Entrepreneurs with business ideas are invited to address the managers of the acceleration funds.
The companies will receive support in two separate stages — pre-seed and seed money investments:
- Pre-seed money investments, i.e. up to EUR 50,000 per company, are intended for the establishment of companies, consultations and the development, assessment and approval of the product
- Seed money investments, i.e. up to EUR 250,000 per company, are intended for projects that have successfully completed the acceleration stage, for the development of companies, products and economic activity models
The Accelerator Fund provides pre-seed and seed investments either in the form of quasi-equity or loans, or also in the form of investments in the equity capital of the company, thereby becoming a shareholder and sharing both risks and revenue
Funding of EUR 15 million has been allocated by the European Regional Development Fund during the planning period of EU structural funds 2014 – 2020 for the implementation of the accelerator funds programme, within the framework of which each accelerator fund will receive EUR 5 million. Additionally, the newly-created accelerator funds will attract funds from private investors in the amount of 20% of the seed money fund, while early-stage pre-seed investments will be fully financed from public funds
Support in the form of pre-seed money investments will be provided in accordance with requirements set forth in Article 22(3)(a)and (c) of Commission Regulation No. 651/2014. Support in the form of seed money investments will be provided in accordance with the requirements set forth in Article 21 of Commission Regulation No. 651/2014. The programme is governed by Cabinet Regulation No. 226 of 12 April 2016 “Regulations Regarding Acceleration Funds for Facilitating the Establishment, Growth and Competitiveness of Performers of Economic Activities”.
Contact acceleration funds for more information
Contact us for more information
PlayGineering, Ričards Fomrats
Akcelerācijas fonds - Komercializācijas Reaktors
Akcelerācijas fonds - BuildIt Latvia
Akcelerācijas fonds - Overkill Ventures