EUR 53 m for industry digitization

Ministry of economics and innovation allocated EUR 53 m to finance 124 Lithuanian industry digitization projects. EU funded investment project Digitization of Industry LT will help industrial companies to assess the needs to digitize production more efficiently and based on technology audit to install equipment, which would increase productivity.
„Lithuanian industrial companies understand the necessity and benefits of digitization very well: an opportunity not only to optimize technological processes, but also to come up with more innovative, more marketable and more competitive produce. That is well demonstrated by number and quality of applications for EU investment project Digitization of Industry LT funding. Given the high demand and number of applications, minstry of economics and innovation decided to increase the amount  of funding significantly. We hope that this will accelerate the digital transformation  of Lithuania‘s industry“, – claims vice minister of economics and innovation Jekaterina Rojaka.
Requests for funding from very small, small and medium sized companies were significantly larger than the planned amount of EUR 15,35 m, therefore  ministry has allocated the additional EUR 38 m.
80 very small and small companies will receive EUR 26,71 m funding, and 44 medium sized comanies are to get EUR 26,22 m.
With the help of EU funds industrial companies plan to implement various digital technologies: enterprise resource planning systems, robotics, manufacturing execution systems, smart sensors and controllers, as well as 3D printing, cloud computing, internet of things and artificial intelligence solutions.  

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