The Lithuanian Business Support Agency (LBSA) has signed all the financing contracts under the InoConnect measure. During the period of implementation, EUR 1.31 million of EU investment was allocated to 139 projects.
A total of 165 applications have been evaluated, the first of which was received in 2017. To date, 59 projects have been completed, 78 are ongoing and 2 projects have been cancelled. Some enterprises have implemented more than one project under this initiative.
The objective of the now-expired follow-up measure was to increase R&D&I spending in Lithuania, to increase exports of R&D&I services and to attract foreign investment.
It also aimed to provide a wider opportunity for companies operating in the field of R&D&I to find foreign partners for the implementation of their expansion or new product development plans.
According to Aurimas Želvys, Director of the LBSA, as the constraints of the pandemic are easing business is moving back from remote to face-to-face contacts, which are not only an effective form of sharing ideas and experience but also a rapid uptake of solutions. ‘Business events are often both a place to find partners and a place to sign contracts − the LBSA has more than one such success story,’ says Želvys.
‘The measure has ended and there will be no more calls, so we can already summarise its great benefits that project promoters tell us about,’ says Inga Lukošiūnaitė, Head of the Science and Innovation Projects Division of the LBSA.
According to her, the most popular topics of the events for which applications have been submitted are information technologies, telecommunications and computer programming activities; the most active applicants are companies from Vilnius, Kaunas and Šiauliai counties.
The LBSA advises that companies, science and technology parks and/or cluster coordinators could apply under InoConnect for an investment of EUR 10,000 for participation in European networking events in the field of R&D&I.
During the pandemic period, salary costs for participation in remote events could also be financed by the funds from the initiative.

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