The Minister of Economy and Innovation has approved funding of almost EUR 8.6 million for the reserve list projects under the measures ‘E-Commerce Model Covid-19’ and ‘Creative Vouchers Covid-19’.

A total of EUR 7.435 million of EU investment is earmarked to all 196 projects in the reserve list under the ‘E-Commerce Model Covid-19’ measure.

A total of EUR 1.152 million of EU investment is earmarked to fund 22 reserve projects under the ‘Creative Vouchers Covid-19’ measure.

‘Both measures saw record numbers of applications, with the amounts requested exceeding the call budgets by hundreds of per cent. It is evident that businesses have ideas, but are often unable to implement them on their own due to lack of funds, and EU investment is the pillar that is currently a real help to businesses’, says Saulius Merkys, Acting Director of the Lithuanian Business Support Agency (LBSA).

The ‘E-Commerce Model Covid-19’ measure is designed to encourage businesses to adopt information technology for the management of business transactions electronically to increase revenue growth. The call attracted 1,676 applications, of which 1,217 were funded. In total, they received just over EUR 47 million of EU investment – EUR 7 million more than the budget announced in the call.

A total of 895 applications were received for the ‘Creative Vouchers Covid-19’ instrument, of which 148 were funded. Together with the call budget and additional funds, they received EUR 7.9 million of EU investment.

This instrument is aimed at the development and deployment of original product solutions − non-technological innovations. It aims to encourage businesses to use innovative services provided by entities operating in the creative and cultural industries, to develop and implement original design and marketing solutions through artistic and cultural expression.

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