SEB Banka’s Augsup Grant Program: Support for Social Entrepreneurship Ideas in Latvia

For the second year now, SEB banka, Ķekava, Mārupe, Sigulda and Ropažu districts jointly organize the grant program “Augšup” to support social entrepreneurship ideas. 9 business ideas have reached the final of the program and on June 15 live at At 16.00 the results will be announced and the winners will be awarded from the “New Ideas Center” of the Ķekava region.

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The maximum amount of money that one grantee can claim is 8,000 euros, and the total amount of grants this year is 40,000 euros. Grant funds can be used for the economic purposes of the company for the development of the existing business or for the creation of a new social enterprise in Pieriga.

“The field of social entrepreneurship goes hand in hand with common trends – this year, digital solutions and education dominated the idea applications, which are one of the most popular trends in recent years, both in terms of service demand and the scope of activities of newly founded companies,” says a member of the SEB banka board Arnis Škapars. “This competition is not only an opportunity for entrepreneurs to receive funding for the development of their idea, but also to tell about it to the wider public, thereby generally promoting a greater understanding of this type of business. According to the data of a survey* conducted by SEB banka, a fifth or 21% of Latvian residents do not know at all , which is social entrepreneurship. It is not a form of charity – social enterprises also operate in such a way as to be able to ensure the sustainability of their activities themselves. The goods and services of these merchants may not have the lowest prices on the market, however, the contribution of their activities to society by solving social, inclusion, environmental sustainability and other issues, is irreplaceable.”

Join the event live and see how diverse social business ideas can be. What you see will surprise you and maybe inspire you to create your own social enterprise!

More information about the grant program www.seb.lv/augsup.