Innovators will carry out scientific research and experimental development (R&D) activities and will have the opportunity to patent the products developed during the project and make them ready for the market.
“To be competitive and innovative beyond the national level, we aim for the total investment in R&D to account for at least 3 per cent of Lithuania’s GDP. One of the ways to accelerate this process is to encourage innovative companies by financing the development of high value-added products and by enabling researchers to participate in R&D activities of companies,” says Aušrinė Armonaitė, Minister of the Economy and Innovation.
Applicants meeting the definition of an advanced or mature innovator can be micro, small and medium-sized enterprises (SMEs), as well as large enterprises cooperating with SMEs.
An advanced innovator must have been operating for at least one year at the time of submission of the project implementation plan. It must have generated at least EUR 75 000 in operating revenue in the last 3 financial years or from the date of registration of the company. An advanced innovator must have R&D expenditure of at least EUR 10 000.
A mature innovator must have been operating for more than 3 years at the time of submission of the project implementation plan. It must have generated at least EUR 300 000 in operating revenue in the last 3 financial years. A mature innovator must have R&D expenditure of at least EUR 30 000 in the last 3 financial years.
“The measures for both advanced and mature innovators will allow companies in the Central and Western Regions to invest in the development of innovative products, as well as prototyping of products, services or processes. They will also enable the strengthening of intellectual property and early pilot production of new products,” says Iveta Paludnevičiūtė, Chancellor of the Ministry of the Economy and Innovation.
The maximum amount of funding available for a project of advanced innovators is EUR 1.2 million and the minimum is EUR 60 000. The maximum amount of funding available for a project of mature innovators is EUR 2 million and the minimum is EUR 60 000.
Projects will be selected by way of a tendering procedure. Project implementation plans will be accepted by the Innovation Agency and can be submitted by 13 November 2023.
The full terms of the “InoProgress” and the “InoMaturity” calls are available on the European Union Investment website.
The “InoProgress” and the “InoMaturity” calls for innovators are implemented within the framework of the Programme for the European Union Funds’ Investments 2021–2027.
To strengthen the Lithuanian economy, the Ministry of the Economy and Innovation will launch measures totalling almost EUR 1 billion by the end of 2023. 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.
IMPORTANT! If you are planning to submit a project implementation plan (PIP), please register for the training which will take place on 25 July 2023 at 10:00 a.m. You can register here.
