The Latvian Ministry of Economics has announced a budget allocation of 400,000 euros for the year 2026, as part of the government's budget law that supports various state initiatives. This funding will target the 'Startup Support' program designed to foster the establishment and growth of startups in the country. The allocation is part of broader efforts to enhance the startup ecosystem, which is seen as crucial for boosting innovation, job creation, and economic growth in Latvia.

The Ministry has emphasized that the funding may be adjusted in the following years depending on the needs of the startup ecosystem, suggesting a flexible approach to support that encourages responsiveness to emerging challenges and opportunities within the sector. These adjustments may include changes in the funding amounts and the types of supported initiatives, ensuring that assistance remains relevant and effective for new and existing startups.

Organizations applying for funding will be evaluated by the Latvian Investment and Development Agency (LIAA), which will assess proposals based on their compliance with eligibility criteria and the quality of the applicants. This competitive evaluation process aims to prioritize high-quality projects that can significantly contribute to raising the competitiveness and sustainability of Latvian startups, thereby promoting investment attraction and increasing exports.