1 billion for Lithuanian economy: €5 million for non-technological innovation
The Ministry of the Economy and Innovation announces a €5 million call for businesses. It will allow companies to introduce innovations to improve business processes, original design solutions and branding, as well as innovate and update their brands.
"Lithuanian companies can more easily gain a competitive advantage in the market by increasing their visibility and productivity, and by applying sustainable business models that strengthen their integration into international value chains. Therefore, through this call, we will invest in the development and introduction of non-technological innovations that will help companies strengthen their position both nationally and internationally," said Aušrinė Armonaitė, Minister of the Economy and Innovation.
The call is open to micro, small and medium-sized enterprises (SMEs) operating in Central and Western Lithuania.
"This investment will enable Lithuanian companies to introduce non-technological innovations that improve production and delivery methods, changes in technology, equipment and software, new organisational approaches and original design and branding solutions. This will strengthen intellectual property, increase business creativity and enable companies to become even better known," says Iveta Paludnevičiūtė, Chancellor of the Ministry of the Economy and Innovation.
The maximum amount of funding available is €100,000 for process or organisational innovation, €35,000 for original design solutions, €5,000 for the creation, updating and registration of a trademark.
Applications can be submitted to the Innovation Agency until 29 February 2024.
Full terms and conditions of the call are available on the European Union Investment website.
To strengthen the Lithuanian economy, the Ministry of Economy and Innovation will announce a series of calls for proposals worth almost €1 billion by the end of 2023. Around €365 million is foreseen for business, innovation and investment, €320 million for digitalisation of the state and business, and €268 million for a greener economy.
The measure "Promoting the development of non-technological innovations in Central and Western Lithuania" is implemented under the European Union Funds Investment Programme for the period 2021-2027.
Last updated: 22-11-2023
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