Institutions involved in ISM scheme design: Ministry of Economics.
Management and implementation - Ministry of Economics and Central Finance and Contracting Agency.
The objective of the measure is to promote cooperation between enterprises, scientific / research institutions, educational and knowledge-distributing organizations, and other institutions at the national and international level, thus
(a) promoting the competitiveness of industries,
(b) increasing the volume of exports and the share of high value added products and services in exports,
(c) increasing innovations and the development of new products.
A cluster unites entrepreneurs, research and knowledge dissemination organizations and other institutions in the common network and operates in interconnected sectors, niches, product or service groups or value chain, or region.
Financial support is provided for establishing new clusters as well as to develop existing ones (established in previous planning period).
There are 14 clusters supported currently:
Latvian Security and Defense Cluster
Food Quality Cluster
LATVIAN EXPORT CLUSTER
Latvian Information Technology Cluster
Latvian Electronics and Electrical Engineering Industry Cluster
Latvian Life Sciences Cluster
Gauja National Park Tourism Cluster (development, 2nd stage)
Latvian health tourism cluster
Metalworking cluster (development, 2nd stage)
LATVIAN WOOD CONSTRUCTION CLUSTER
Cluster CLEANTECH LATVIA
Green and Smart Technology cluster
Smart cities cluster
PRINTING AND MEDIA TECHNOLOGY CLUSTER

The minimal number of participants within a cluster is 20 (at the mcoment when proposal is submitted).
It has to be increased up to 30 during the first year.
The total turnover of the 20 entrepreneurs has to be 10 mln. EUR and export has to be 2 mln. EUR.

Funding for 1 cluster is available up to 415 000 EUR (for 4 year working period).
Clusters are further transfering the funds to SMEs as a grants as well as providing non-financial support for cluster participants.