June
23

MORE THAN FOUR MILLION EURO OF EU INVESTMENT TO IMPROVE CREATIVE INDUSTRIES’ INFRASTRUCTURE

The Innovation Agency has completed the evaluation of applications requesting the allocation of funds under the measure ‘Incentives to Improve the Infrastructure of Cultural and Creative Industries (CCIs)’ for the implementation of projects. The positively evaluated applications have been forwarded to the Ministry of Culture, which will decide on their funding.
The call received 88 applications for EUR 13.41 million – the amount that tripled the EUR 4.16 million budget allocated for the measure.
Giedrė Indriulienė, Head of Business Sustainability Projects in the Investment Management Division of the Innovation Agency, commented on the results:
‘The measure has sufficient funds to finance 24 projects – 8 in the cinema and 16 in other CCI sectors. There is a real possibility that the budget will be supplemented by another EUR 2 million, which will allow for EU investment to be allocated to 18 more projects that have been positively evaluated. This decision has yet to be recorded by the Ministry of Culture by making the necessary changes to the documents to transfer the funds’.
She added that although the description of project financing conditions under the measure provided for the possibility to implement projects on a partnership basis, none of the applicants made use of this possibility.
She explained the structure of the projects: ‘The applicants gave priority to the so-called equipment projects. They mainly envisaged the purchase or development of equipment needed to provide new CCI services or update operational processes by contributing to the implementation of circular or digital economy principles. Projects for new CCI products are less popular, and contract works are provided in only a few positively evaluated projects’.
The average value of a project is EUR 249,000; the average amount of the requested financing is EUR 144,000. EU investments will reach the majority of beneficiaries in the form of de minimis aid. Most of the support funds go to the project promoters of Vilnius, Kaunas and Klaipėda counties, who submitted almost 90% of all applications.
The objective of the measure is to encourage micro, small and medium-sized CCI enterprises to develop new digital products, and circular economy services and products by investing in the infrastructure necessary for the development of CCI products.

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