The deadline for the submission of applications under the measure ‘SmartInvest LT+’ has expired. During the month, the Lithuanian Business Support Agency (LBSA) received 36 applications requesting EUR 49.3 million in EU investment for the implementation of projects.

The amount of funds requested exceeds the budget of the call by almost 2.5 times, which was EUR 20 million. The maximum amount of funding available for a project was EUR 7.5 million and the minimum was EUR 50,000.

According to Aurimas Želvys, Director of the LBSA, the EU Investment facility aims to attract foreign investment in the field of research, experimental development and innovation (R&D&I). ‘The results of the call show that there is a solid competition of projects, so I hope that the most promising and innovative ones will meet the requirements, and Lithuania will see an increase in the number of modern solutions, which will be implemented by talented local experts and practitioners,’ says Želvys.

According to the applications received, the projects are planned to be implemented in Vilnius (30 projects), Kaunas (5 projects) and Alytus (1 project) Counties. The fields of activity include the manufacture of electronic equipment, computer programming, consultancy and related activities, research and development in natural sciences and engineering, the manufacture of measuring, testing, navigation and control equipment and the textile industry.

Inga Lukošiūnaitė, Head of Science and Innovation Projects Division of the LBSA, points out that the ‘SmartInvest LT+’ instrument promotes projects that invest in R&D activities, create new or expand an existing R&D&I infrastructure of an existing enterprise, and these activities are carried out in Lithuania.

‘The essential requirements for projects are to create and bring to the market new products, new jobs and new jobs for researchers, to attract private investment and to generate revenue from the newly created products after the project is completed,’ says Lukošiūnaitė.

During the call for applications, LBSA specialists consulted potential applicants on all issues related to the ‘SmartInvest LT+’ instrument, organised remote training for them and answered their questions.

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