Additional EUR 81 m allocated for improvement of innovative goods and services

Ministry of Economics and Innovation allocated additional EUR 81 m to 120 Lithuanian companies from the reserve list to implement innovations in business and improve innovative goods and services from EU investment program Experiment. Financing will come from Future Economy DNA Plan.

„EU investment program Experiment was very popular among businesses, therefore, considering business needs to invest in scientific research and create innovative products, we allocated additional EUR 81 m from Future Economy DNA funds to life science and othere companies on reserve list. It should be noted that, in case of the call for companies from country regions, there was enough of envisaged funding, and all companies, that qualified, are getting financing.  Speaking about the other call , where capital city based companies could apply, we got many more companies meeting all project requirements, than the planned amount of funding. That is why decision was made to make a reserve list and find additional funds to finance these projects“,  – claims minister of economics and innovation Rimantas Sinkevičius.

From total amount of reserve list 21 life science projects will get funding of EUR 14,3 m, and remaining EUR 67.5 m were allocated to 99 companies working in other sectors.

Project Experiment finances companies‘ scientific research and experimental development activities and investment into creation of nnew or expanding existing infrastrucure, as well as sertification of companies, new products and technologies. 

Total amount of funding of project Experiment is more than EUR 151 m.

Information by Ministry of Economics and Innovation

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