Brave Idea Support Programme is a project that is being implemented by Ventspils High Technology Park in collaboration with Kurzeme’s Business incubator and SEB Bank. Within the project authors of innovative business ideas have the opportunity to receive advice from experts and also financial support to successfully develop the idea.

Homepage of the project: www.draugiem.lv/diap

Participating in the competition is a great opportunity for new business people, who plan to or already implement their economic activity in the region of Kurzeme, not only to gain financial support for consultancy in various business related fields, but also to gain a wide network of contacts and potential partners, and mentoring services. SEB Bank provides the opportunity to receive the start-up loan up to LVL 8000 to cover first expenses.

The financial support of the programme provides new entrepreneurs with consultancy services in prototyping, marketing, accountancy, law, technology issues, drawing up a business plan, preparing applications for European Structural funds and other services related to economic activity.

Ieva Tetere, Member of the Board of SEB Bank and responsible for private customers and SME, underlines: “In the spring of 2010 the Brave Idea Support Programme had very good results, and the ideas that were submitted proved that Latvia has energetic people who are willing to work and be competitive in the world. Therefore, I am very happy that our cooperation with business incubators proceeds and that the SEB Bank will be able to support new entrepreneurs financially as well as ensuring professional expertise”. 

During the first round of the programme, which was held at the beginning of 2010, altogether eight business ideas were supported. Irina Kalniņa, the author of one of the most interesting ideas and manager of Ltd. Kiko Cosmetics reveals: “We applied for the Brave Idea Support Programme because we wanted to develop our business idea – production of eco cosmetics, and to encourage export. Without the programme and the support of business incubator such a rapid growth would not be possible. Under a year’s time we have managed to get the certificate of conformity, to develop product design, to take part in exhibitions and to begin collaboration with partners in Russia”. 

Among the most interesting ideas of last year’s competition we can mention:

• Non-contact generator for bicycles that will provide electricity for the lamps to light the road, and to charge other devices (Ventspils);
• Manufacturing of composite material details for street and sports cars (Ventspils);
• Product for foot care (pumice), the privilege of which is that it can be attached to any flat surface (Ventspils);
• Manufacturing of aluminium profiles (Ventspils);
• Production of sea buckthorn products (Talsi);
• Manufacturing of motorcycle trailers (Talsi);
• Ecological car wash (Liepaja);
• Manufacturing of new design wheelchairs (Liepaja);
• Baking of traditional Suiti people fine rye-bread and carrot tarts (Kuldiga);
• Full service for private or corporative events (Kuldiga);
• Production of cotton candy in original and patented wrapping (Saldus);

It is planned to continue the implementation of Brave Idea Support Programme further on. October of 2011 has been named the month of brave ideas when we will expect applications from enterprising people from Kurzeme, who are willing to receive programme’s support.