Last month, The Government of Lithuania approved the Plan for the Future Economy to overcome the consequences caused by COVID-19. There is a list of financial measurements to be implemented throughout 2020-2021 to generally stabilize the economy and put the grounds for a long-term development. One of the proposed measures is SMART FDI, which aims to attract foreign investments to Lithuania by supporting R&D&I activities. A call of proposals shall be open in September 2020.
General information regarding SMART FDI:
- Financed activities:
- Investments in R&D&I activities (all the relevant expenses, e. g. salaries, materials, low-value inventory, etc.).
- Infrastructure for R&D&I activities ((re)construction; long-term assets).
- Investment into process and organisational innovations (all the relevant expenses, e. g. salaries, materials, low-value inventory, etc.).
- Requirements for applicants:
- Private legal entities acquired by a Foreign Investor (Natural Person or Legal Person); or
- Foreign Investor (Enterprise);
- Branch of the Foreign Investor (Enterprise) incorporated in Lithuania
- Requirements for Projects:
- The Investor (Applicant) must have invested in the manufacturing or service sector in the Lithuania no earlier than 10 years before submitting the Application and is planning to launch R&D&I activities; or the Investor (Applicant) has not carried out any activities in Lithuania and intends to launch R&D&I activities Lithuania
- The Project shall create new jobs for researchers (during the implementation of the Project and 3 years from the end of implementation of the Project activities the jobs for researchers make at least 20 per cent of all new jobs related directly with the Project);
- The annual income of the Applicant (including the Enterprise Group of the Applicant) during the last three financial years is not lower than the requested amount of financing at least one financial year during the last 3 financial years before submission of the Application
- Available funding:
- Up to 3 000 000 EUR for the 1.1. activity; intensity: up to 80% (depending upon activities, the size of enterprise, and whether or not the Application is submitted with eligible partners);
- Up to 6 500 000 Eur for the 1.2. activity; intensity: 25% for large enterprise; 35% for medium-sized enterprise; 45% for micro or small enterprise.
- Up to 500 000 EUR for the 1.3. activity; intensity: 15% for large enterprise; 50% for micro or small, and medium-sized enterprise.
- Other relevant criteria:
- Financed activities should comply to the R&D&I criteria on Frascati Manual.
- The funding will be granted on the rolling basis, so it is important to submit the application as soon as the call opens.
For more information contact us:
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