EIMIN will seek to fund all projects of hugely popular instruments
The Ministry of the Economy and Innovation is allocating almost €35 million for 35 projects to be implemented in the Central and Western Lithuania region under the highly popular "Inopazanga" and "Inobranda" measures. An additional amount of almost €80 million is foreseen for nearly 100 other projects that have been positively evaluated as significant projects that create innovation and strengthen cooperation between business and science.
"The popularity of these measures is nothing short of encouraging. If you need proof that Lithuania is full of creative and imaginative people, take a look at these measures. More than 130 companies have submitted innovative ideas worth almost €115 million. We are committed to doing all we can to ensure that all successful applications are funded. We will find the funds, we just need the approval of the European Commission," said Aušrinė Armonaitė, the Minister of the Economy and Innovation.
In the first phase, 35 projects were funded under the 'Inopazanga' and 'Inobranda' measures. Almost €20 million has been allocated to 23 advanced innovator projects and almost €15 million to 12 mature innovator projects.
Projects will be funded in the fields of health and biotechnology, new production processes, materials and technologies, and information and communication technologies. Most of the projects will be implemented in Kaunas region.
"These measures are particularly popular, as the amount of investment requested is more than double the €35 million foreseen in the calls for proposals. These measures are particularly important for the development of high value-added products and for facilitating the participation of researchers in the research and experimental development activities of companies. They also strengthen intellectual property and early pilot production of new products," says Iveta Paludnevičiūtė, Chancellor of the Ministry of the Economy and Innovation.
An advanced innovator is active for at least one year. It must have achieved a turnover of at least EUR 75 000 in the last three financial years or from the date of registration. The advanced innovator must have spent at least EUR 10 000 on R&D development.
A mature innovator has been active for more than 3 years. It must have achieved a turnover of at least EUR 300 000 in the last three financial years. The R&D expenditure of the mature innovator must have amounted to at least EUR 30 000 in the last 3 financial years.
The "Inopazanga" and "Inobranda" measures for innovators are implemented within the framework of the Investment Programme for European Union Funds for the period 2021-2027.