Seeking to attract foreign investment in R&D, experimental development and innovations Lithuanian Business Support Agency (LVPA)  and ministry of economics and innovation invite to submit applications for Smart FDI # 3 funding.

By this call the investment of EUR 20 m for innovative products and services is envisaged, applications are to be submitted from November 23 until December 23, 2020.

According to LVPA director Aurimas Želvys, innovation is the engine of future economy, therefore it is necessary to promote it.

„While supporting R&D we invest into future economy with innovative product technologies and advanced product prototypes. In addition, foreign investment will go up, which shows that our country is a reliable market for investors“,− Mr Želvys names the advantages of innovation.

SMART FDI promotes projects investing in R&D, new R&D infrastrucure is being developed or exosting one expanded, innovations of processes and organizations being implemented.  „We try to attract  R&D fdi, so R&D takes place in Lithuania“,− notifies Vytaras Tamašauskas, LVPA‘s head of science and innovation unit.

Maximum amount of funding depends on activities planned. Applicants investing in R&D can get up to EUR 3 m. They can have partners – private companies and academic institutions.

Additionally, applicants creating new or expanding existing R&D infrastructure can hope for investment of up to EUR 6.5 m, nor partners allowed for this kind of activity.

Maximum amount for funding of implementation of processes and organizational innovations is set at EUR 0.5 m. If project is being implemented by large company, it has to work together with partner – a very small, small or medium sized company.

Main requirement for applicants is creation of new products, bringing them to market, creating new jobs, including new researchers‘ jobs and attracting fdi.

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