28-03-2024

EIMIN awarded €2.8 million for future talent

Responding to the needs of businesses, the Ministry of the Economy and Innovation invests each year in promoting entrepreneurship and attracting young people to study fields relevant to the advanced economy. Last year, €2.79 million was allocated to these activities. This year, in addition to their continuation, additional funds are planned for the development of new measures. 
 
"We are constantly looking for ways to ensure the training of professionals to meet the needs of the economy, and we are investing in the development of entrepreneurship among young people and students, and in attracting them to study STEM subjects. This year we have also launched new measures for PhD students and high school students, thus contributing to the supply of talent and increasing Lithuania's competitiveness and companies' chances of finding new employees," said Aušrinė Armonaitė, the Minister of the Economy and Innovation. 

One of the latest EIMIN initiatives already launched is a tool for PhD students to develop their skills in the alternative protein market. Grants are available for traineeships abroad to develop their knowledge in the areas of alternative protein sourcing, research and technology. EIMIN has earmarked €24,000 for PhD studentships this year. Applications can be submitted to the Innovation Agency until 14 May this year.

EIMIN also provides targeted scholarships for students studying STEM (science, technology, engineering and mathematics) at regional higher education institutions. More than 1,000 students currently receive monthly scholarships, which will be extended to students enrolled in 2024. The scholarships are awarded to young people studying at regional higher education institutions, which ensure that future highly-skilled workers are able to collaborate with the business community and then be integrated into the labour market. 

EIMIN is also in its third year of supporting activities organised for Lithuanian diaspora youth internship participants in Lithuanian companies. The programme will provide internships for 15 participants in 2022 and 17 Lithuanian diaspora youth in 2023. EIMIN has allocated €45,000 to the programme over three years and is expected to provide additional support to at least two projects this year.

EIMIN is also contributing to the implementation of accelerator_x, a hands-on programme to develop students' entrepreneurial skills, organised by Lithuanian Junior Achievement. During the three years of cooperation, the programme has taught entrepreneurial skills to more than 6,500 students in grades 9-12. EIMIN contributes half a million euros annually.

Last year, EIMIN also contributed €200,000 to a joint project between Vedliai and Lithuanian Junior Achievement (LJA), and this year an additional €300,000 is earmarked to significantly increase the number of students exposed to the programme. The programme has helped develop the first and only digital entrepreneurship learning methodology in Lithuania, bringing integrated, relevant and creative computer science and entrepreneurship education to Lithuanian classrooms for students in grades 5-8.

EIMIN is also contributing to the promotion of youth entrepreneurship through the Kaunas and Klaipėda clusters, where a new business idea testing programme 'Come+Test+Grow' was launched at the end of 2023. Participants tested their business ideas and their market potential. EIMIN provided a third of a million euros for this programme and 100 people benefited from the business development and ideas laboratory. The 20 ideas they developed received expert advice and recommendations on how to develop and expand their ideas.