The Lithuanian Ministry of Economy and Innovation is promoting innovation with a €35 million fund to support projects in Central and Western Lithuania. The ministry’s “InoPažanga” scheme offers €20 million for budding innovators, while its “InoBranda” initiative earmarks €15 million for established innovators. The primary goal is to elevate Lithuania’s investment in R&D to 3% of the national GDP. Applicants, ranging from SMEs to large enterprises that partner with SMEs, should meet specific financial requirements. Funding available to early-stage and established innovators can reach up to €1.2 million and €2 million, respectively, starting from a minimum of €60,000. The ministry will accept proposals until November 13 of this year. These funds form part of a broader €1 billion plan to boost Lithuania’s economy by 2023, comprising €365 million for business innovation, €268 million for digitization, and the remainder for greener initiatives.
Source: lrytas.lt
