EIMIN: €2.5 million EU investment for high added value products
The Ministry of the Economy and Innovation is launching a €2.5 million call for companies operating in the Central and Western Region of Lithuania to stimulate the supply of innovation. The funding will enable companies to develop new products that will help them achieve market success, while researchers will have the opportunity to participate in research and experimental development (R&D) activities.
"Lithuania's investment in R&D is growing steadily year on year, reaching more than €690 million in 2022, and has already produced tangible results, with innovative products being developed in the fields of medicine, transport, energy and artificial intelligence. This investment will enable Lithuanian regions to grow innovative businesses and develop technologies that meet market needs," said Aušrinė Armonaitė, the Minister of the Economy and Innovation.
Applicants for InoStartas are micro, small and medium-sized enterprises (MSMEs) or large enterprises in partnership with MSMEs. The maximum amount of funding available per project is EUR 200 000.
"We are encouraging our country's businesses to develop new products with high added value. Companies will also be able to recruit researchers to participate in their R&D activities. At the same time, not only the intellectual property will be strengthened, but also the early pilot production of the developed new products and the market readiness of the new products," says Iveta Paludnevičiūtė, Chancellor of the Ministry of the Economy and Innovation.
Project implementation plans can be submitted to the Innovation Agency until 31 December 2024.
The full terms and conditions of the call are available on the European Union Investment website.
InoStartas is funded by the European Union Investment Framework 2021-2027.