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November
24
SMART FDI 3 APPLICANTS ASK FOR TWICE THE AMOUNT ENVISAGED IN THE CALL
Lithuanian Business Promotion Agency (LVPA) has stopped the project SMART FDI 3 call announced on November 23 on the same day because it was oversubscribed fast and twice exceeded the budget. It took just 80 minutes.
EUR 20 m were allocated for the call. 20 applications were received for total funding amount of more than EUR 42 m.
„Such a record breaking fast oversubscription of this call shows that business was waiting and ready. The fact, that LVPA has informed about the expected announcement of the call before the weekend, improved the starting positions of applicants seeking funding“,− claims LVPA director Aurimas Želvys.
However, he thinks that clients‘ consulting, submission of applications and evaluation process would be smoother and more professional, if plans for calls and other related information is made public more in advance and via the one stop shop.
SMART FDI specifics is related with expectations of foreign investors, because the project aims at attracting fdi into R&D and innovation in Lithuania.
According to Mr Želvys, because of competition, the projects have to be thoroughly evaluated, if they meet the criteria. „Projects are oriented towards AI, laser, financial technologies and advanced materials, so we expect quality applications and positive impact to development of Lithuania‘s economy“,− hopes head of LVPA.
EUR 20 m were allocated for the call. 20 applications were received for total funding amount of more than EUR 42 m.
„Such a record breaking fast oversubscription of this call shows that business was waiting and ready. The fact, that LVPA has informed about the expected announcement of the call before the weekend, improved the starting positions of applicants seeking funding“,− claims LVPA director Aurimas Želvys.
However, he thinks that clients‘ consulting, submission of applications and evaluation process would be smoother and more professional, if plans for calls and other related information is made public more in advance and via the one stop shop.
SMART FDI specifics is related with expectations of foreign investors, because the project aims at attracting fdi into R&D and innovation in Lithuania.
According to Mr Želvys, because of competition, the projects have to be thoroughly evaluated, if they meet the criteria. „Projects are oriented towards AI, laser, financial technologies and advanced materials, so we expect quality applications and positive impact to development of Lithuania‘s economy“,− hopes head of LVPA.
