“Over the last few years, the value of Lithuanian startups has grown 17 times. Last year, they raised investment in the amount of EUR 238 million, bringing the total value of Lithuanian startups to EUR 10 billion. Therefore, we have set an ambitious goal to keep going and to grow the Lithuanian startup ecosystem even faster, so that it is known and recognised both nationally and internationally,” says Aušrinė Armonaitė, Minister of Economy and Innovation.
“By strengthening Lithuania’s startup ecosystem, we are improving the business environment and implementing targeted support measures focused on the needs of startups. These investments will create favourable conditions for startups to establish and facilitate the development of their product idea,” says Iveta Paludnevičiūtė, Chancellor of the Ministry of Economy and Innovation.
Pre-acceleration and incubation services for startups will be provided and the hackathons will be organised by the applicants – the providers of technology development and innovation promotion public services in Central and Western Lithuania. They will invite startups to actively participate and develop their ideas.
The maximum amount of funding available for a project is EUR 850 000 and the minimum is EUR 200 000.
Applications are accepted by the Innovation Agency and can be submitted by 18 September 2023. The full terms of this call can be found on the European Union investment website.
This measure is part of a plan of almost EUR 1 billion to strengthen the Lithuanian economy. 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 by the end of 2023.
Anyone interested in submitting a project implementation plan (PIP) under this call can participate in a distance training course to be held on 13 June at 10:00 a.m. Registration is available here.
