Project implementation plans can be submitted by micro, small and medium-sized enterprises (SMEs) operating throughout Lithuania, with revenues of at least EUR 10,000 in 2022, which are not struggling and which are engaged in R&D&I activities and declare them to the State Data Agency. Businesses can receive state support (de minimis funding) to cover the costs of participating in international R&D&I events: participation fee, travel, subsistence, accommodation costs of the project staff, as well as wages during the mission.
“One of the values that the Innovation Agency Lithuania brings to its clients is the networking opportunities, both in terms of sharing valuable contacts, facilitating partnerships and providing funding opportunities. International networking at targeted events and involvement in R&D&I partnership networks are excellent ways for innovative businesses to build valuable relationships with international partners and to develop innovative solutions or services together. This helps Lithuanian businesses to increase the attractiveness of their products and services, boost their exports, and increase their competitiveness in the global world,” says Gintarė Kuncaitytė, Deputy Director of the Investment Management Department of the Innovation Agency Lithuania.
Up to EUR 300,000 will be allocated to promote this international networking of companies. The projects will be selected by way of competition, with two separate competition queues – EUR 150,000 will be allocated to companies operating in the Capital Region and EUR 150 000 will be allocated to applicants in Central and Western Lithuania. Up to 50% of project costs will be financed in the Capital Region and up to 85% in the Central and Western Region.
“We believe that the higher intensity of funding for the regions will encourage companies to participate more actively, contribute to reducing economic disparities between regions and help the sustainable development of Lithuanian businesses by taking advantage of international opportunities,” says Ms. Kuncaitytė.
The maximum amount of funding available for a project is EUR 20,000 and the minimum is EUR 10,000. Project activities must commence within 2 months from the date of signing the contract and projects must be implemented within 24 months from the date of signing the contract.
The managers of businesses interested in receiving funding under this measure are invited to participate in a remote event on 14 March, where experts from the Innovation Agency Lithuania will provide more information on this call, eligible costs, requirements for applicants, and answer any questions. Pre-registration is required here.
All call documents (terms and forms to fill in) are available on the website of the Innovation Agency Lithuania (in Lithuanian).
Project implementation plans can be emailed to the Innovation Agency Lithuania by 31 May 2023, at 17:00, to esinvesticijos@inovacijuagentura.lt.
To strengthen the Lithuanian economy, the Ministry of Economy and Innovation plans to implement measures totalling almost EUR 1 billion by the end of 2023. Of this amount, around EUR 365 million has been earmarked for business, innovation and investment, EUR 320 million for the digitisation of the state and business, and EUR 268 million for the greener economy.
