16.04.2026
Is a grant the goal or just a means to an end? Often, companies make the mistake of thinking about innovation only when support programs have already been announced. Our CEO, Valts Jakubovičs, in his article for the magazine Ir Nauda, explains why successful development begins with homework and a strategic vision, rather than just a completed application form. We have summarized the key prerequisites for a company to be ready for investment:
- Innovation as a daily culture: A grant should not be the sole motivator for innovation. A company must be prepared to invest in its own development even without external support – a grant is merely an accelerator for an existing idea.
- Doing the homework before the start: Well-organized processes, defined goals, and a clear vision of what problem the new product or service will solve are critical factors in avoiding becoming a “last-minute applicant.”
- Financial and resource planning: Receiving a grant is only the beginning. A company must be financially stable and have sufficient capacity to see the project through to completion and provide the necessary co-financing.
- Focus on added value: Grant providers are not looking for simple equipment purchases, but rather for projects that create a real leap in competitiveness and long-term benefits for the economy.
Read the full article in latvian on the ‘Ir’ portal: Inovācija nesākas ar līdzfinansējuma grantu izsludināšanu – kā sagatavoties laikus
