The Estonian Business Development Agency (EAS) and KredEx joint institution have initiated a new support measure for enterprises operating in Ida-Virumaa. This measure aims to facilitate the development of new products, the adoption of new technologies, the optimization of internal processes, and the expansion of production. The maximum support available is 500,000 euros, with a total budget of 15 million euros.
The primary objective of this support is to promote economic diversification in Ida-Virumaa and enhance the competitiveness of small and medium-sized enterprises. It allows for investments in both product and process development, as well as the acquisition of machinery and the expansion of production.
The support rate is 45% for micro and small enterprises and 35% for medium-sized enterprises. All planned activities within the projects must be completed no later than August 31, 2026.
For more detailed terms and conditions, please refer to the support program’s website.
This is the third support measure targeting businesses within the framework of the Just Transition Fund. In the summer of 2022, a large-scale investment measure was launched to support significant investments that create jobs in Ida-Virumaa. Additionally, from July 17, a call for applications will open to support research and development projects of Ida-Virumaa enterprises and to implement high-tech pilot projects.