Entrepreneurship Support Measures in Vidzeme Planning Region (Entrepreneurship in Vidzeme)

With the population declining in the region, the shrinking local market is urging companies in the region to penetrate foreign markets more and more. In order for the companies in the region to be able not only to ensure their operations, but also to develop and promote the economic growth of the region, including employment growth and wage growth, they need to increase their competitiveness in penetrating new markets, developing innovation and new products/services and promoting them on the market. The activities planned as part of the project will improve the business environment of the region in order to increase the competitiveness of the companies on local and international markets.

As the companies become more competitive, they will also be able to have positive impact not only on reducing unemployment, but also on changes in the average income level of employees by providing higher paid jobs with positive consequences for changes in poverty rates in the region. The project activities are aimed at developing the innovation ecosystem in the region and offsetting the negative differences in the availability of services between the capital and the region.

The project will be implemented in the framework of the Programme for Local Development, Poverty Reduction and Culture Cooperation, funded by Iceland, Liechtenstein and Norway through EEA grants. The project implementation area is the territory of Vidzeme planning region in Latvia and Elverum Municipality in Norway, as well as it is planned that cooperation with other EEA donor countries will take place.