"We aim to offer businesses the widest possible range of support measures so that they can invest in their future and contribute to building a stronger and richer Lithuania. I encourage businesses to make active use of this support. This is especially relevant now, when investing in innovation and renewable energy is so important," said Aušrinė Armonaitė, Minister of the Economy and Innovation.
Since mid-September, 12 calls have been announced for a total value of €214.6 million. Calls for €10.3 million have already been announced in the area of business, innovation and investment, for €90 million – in the area of green economy and €114.3 million – in the area of digitisation of the state and business.
Calls include the deployment of renewable energy sources, energy efficiency improvements, investments to help businesses recover from the economic downturn, funding for start-up innovators developing new high value-added products, and others.
The nearly €1 billion plan for the Lithuanian economy consists of 3 parts. By the end of 2023, €365 million in calls for business, innovation and investment, €320 million for digitisation of the state and business and €268 million for a greener economy have been planned for various private and public sector projects.
The plan aims to purposefully increase business, innovation and investment spending on research and experimental development (R&D) in a targeted way, reaching 1.5% of GDP by 2024. There is also a strong focus on start-ups and existing businesses.
In the green economy, the major share of funding goes to investment projects that focus on renewable energy sources to move away from the use of fossil fuels, as well as investment projects that aim to improve operational efficiency.
In the area of digitalisation, the plan is to focus on developing and improving new and existing digital services for businesses and citizens, expanding e-services and making them more accessible to people with special needs, as well as promoting the use of open data.
For more information on the measures, click here.
