“Lithuanian businesses demonstrate an immense potential of innovation development, and to use it successfully and to maintain the growth momentum of the country’s innovations sector, helping them is important. After launching an invitation last year for financing placement of innovative products on the market, a big number of applications from companies was received, therefore this year we tripled the investment to meet the demand and promote the innovative activities even stronger,” says Aušrinė Armonaitė, Minister of Economy and Innovations.
According to her, Innovation Cheques have already proven to be a good measure for business financing and enhancing cooperation between business science, therefore the government brought it back this year.
Funds of the invitation Promotion of Innovative Activities of Companies can be used to finance activities intended to help placement of innovative products on the market. It can be engineering, design, and other creative activity, also marketing and brand value creation activity, software and database development, and activities related to acquisition or lease of tangible assets. Maximum EUR 30,000 financing can be assigned for one project. The investment amount may not exceed 80 per cent of the total eligible expenses of the project.
Financing of the invitation Innovative Cheques for Acquisition of R&D services is focused on acquisition of Innovative Cheques. They are fixed-amount payment documents of earmarked purpose, intended for acquisition of services from Lithuanian scientific and educational institutions or mature innovator. From this financing, companies will be able to buy research and development services needed for further development of a product, creation of which already started. Companies will be able to get EUR 10,000 investment, without exceeding 80 per cent of the total recognised eligible expenses of the project.
“When creating an environment favourable for innovation development promotion of business and science cooperation is important. That is the goal of the assistance for the companies in acquiring Innovative Cheques, which will enable them to buy necessary services from research institutions. Equally important is that the innovations created can effectively find their way to markets, and that requires various actions enabling creation of additional value and product commercialisation – starting from brand creation and marketing and finishing with product support and development of material infrastructure needed for realisation. Financing of the invitation Promotion of Innovative Activities of Companies will help the companies in this field,” says Mantas Biekša, Head of Innovations Promotion Division of the Innovation Agency.
Further information about the financing invitation Promotion of Innovative Activities of Companies is available here, and about the invitation Innovative Cheques for Acquisition of R&D Services – here. Online training will be held on 15 March, 10:00, during which financing invitations and their terms and conditions will be presented in more details. Registration for training is available here.
