EUR 1 billion for the Lithuanian economy: EUR 300,000 for participation in international R&D&I initiatives
The Ministry of Economy and Innovation is launching a EUR 300,000 call for companies operating in both the Capital Region and in Central and Western Lithuania to participate in international research, experimental development and innovation (R&D&I) initiatives. This is another measure in the planned EUR 1 billion plan to boost the Lithuanian economy.
“One of the ways for Lithuanian companies to enter the international market, strengthen their business position in international value chains, and establish useful contacts is to participate in international R&D&I initiatives. Businesses do not always have the resources to do so. Therefore, I invite companies to take advantage of this opportunity, which will not only increase their international visibility, but also enable them to develop joint R&D&I projects that can turn into breakthrough products in our country,” said Aušrinė Armonaitė, Minister of Economy and Innovation.
“With this measure, we aim to help companies in the Capital Region and in Central and Western Lithuania to join R&D&I partnership networks and become more attractive and competitive in international value chains. In addition, we hope that it will stimulate investment in the development of innovative products and services,” said Vincas Jurgutis, Vice-Minister of Economy and Innovation.
The eligible applicants for this measure are micro, small and medium-sized enterprises (SMEs) operating in the Capital Region and in Central and Western Lithuania. Up to EUR 300,000 will be allocated to the projects: up to EUR 150,000 for project development in the Capital Region, and up to EUR 150,000 in Central and Western Lithuania. The maximum amount of funding per project is EUR 20,000, and the minimum is EUR 10,000.
Funded activities include international networking of SMEs, involvement of companies in R&D&I partnership networks.
The full terms and conditions of the call are available on the EU investment website.
The Innovation Agency accepts project implementation plans until 5 p.m. on 31 May 2022.
The Ministry of Economy and Innovation has prepared a plan worth almost EUR 1 billion to strengthen the Lithuanian economy. By the end of 2023, around EUR 365 million is earmarked for business, innovation and investment, EUR 320 million for the digitalisation of the state and business, and EUR 268 million for greening the economy.