Companies' selection criteria
The selection of
companies and evaluation of projects are in 2 rounds:
- Round 1 - Evaluation
of the company
- Round 2 - if the company
complies with the criteria of Round 1, the business the plan, project
and the idea are being evaluated next.
In Round 1,
company is evaluated by such criteria:
|
1. |
The company
has been registered in Register of Enterprises of the Republic of Latvia for
no longer than two years; |
|
2. |
When joining
the incubator, the company conforms with a status of small or medium
enterprise (SME); |
|
3. |
The company
does not operate in fields which business incubator does not support:
manufacturing of agricultural products, fishing industry and aquaculture,
coal industry, naval architecture, financial mediation, trade, commercial
services, transport, production of alcoholic beverages, tobacco products,
gambling; |
|
4. |
The company is
not determined insolvent by court, it is not in the process of financial recovery
or legal protection proceedings; the company still engages in economic
activity and it is not in the process of liquidation. |
|
5. |
The company
has paid taxes and other compulsory payments set by the state or municipality
at full extent and at established due date; |
|
6. |
Natural person
in their interest has not committed a crime that affects the financial
interests of the Republic of Latvia or European Union, and the applicant of
the project does not have any coercive measures specified according to Criminal
Law. |
|
7. |
The person has
not received and will not receive funding for the same eligible costs of
other activities from the local, regional, national or European Union funds; |
|
8. |
The person has
complied with and has not breached the funding conditions. |
|
9. |
The company
does not receive support from any other business incubator in Latvia. |
|
10. |
The
applicant's application is in accordance with KBI goals. |
In Round 2, the business plan, the project and the idea
are evaluated.
The evaluation of the business plan, the project and the idea is
based on scoring system (for each section maximum score is 5);
|
1. |
Company's
staff analysis - assessment of competent personnel for project
implementation; |
|
2. |
Business idea
analysis – assessment of the viability of the project idea and the potential
of the idea's rapid development; |
|
3. |
Market
analysis - market access, potential sales of the product; |
|
4. |
Financial
forecast and substantiation of prospective yield – assessment of the quality
of the business plan. |
Company receives additional points for the following: (1 point for fulfilling
the conditions 1 to 3 and up to 3 points for fulfilling condition 4):
|
1. |
Company
employs or plans to employ people with special needs; |
|
2. |
Company
employs or plans to employ people, who have not reached the age of 25 and
this would be (or is) their first work place; |
|
3. |
Company plans
to use the office premises in business incubator; |
|
4. |
Company is
engaged in one of the priority fields of Kurzeme's Business Incubator: information technology (IT), environmental
technology, tourism, design, telecommunication, arts and entertainment,
information and communication services, electronics. |
KBI will give priority to companies which produce eco-friendly products and
services or use eco-friendly technologies and which operate in accordance with
the requirements of environmental protection.
|
