For the Development of Innovative Products

For the Development of Innovative Products is ALTUM's financing route for RIS3-priority product development in Latvia. It sits under the state-owned development finance institution's enterprise portfolio and is currently suspended, with no new submissions being accepted. The program pairs a loan of EUR 300,000 to EUR 5 million with a capital rebate of up to 30% of principal, capped at EUR 1.5 million. The term can run for up to 15 years. Eligible applicants are enterprises registered in Latvia with up to 3,000 employees, and the scheme is co-financed through EU structural funds. The focus is on smart technologies, the bio-economy, and dual-use security and defence products. This route fits established companies with a sizeable development plan and a clear RIS3 match rather than early experiments. Because the capital rebate is tied to the financing package, the strongest applications are likely to show a defined product path, a Latvian operating base, and a scope that can absorb long-term loan capital.

Each grant below is a distinct funding opportunity with its own eligibility, scope, and deliverables.