The objective of ,,Smart Invest LT+“ is to attract foreign investment in the field of research and/or experimental development and innovation (R&D&I) to the Republic of Lithuania.
Supported activities:
1. foreign direct investment in R&D activities;
2. foreign direct investment to create new or expand the R&D&I infrastructure of an existing enterprise.
The applicant may choose to implement either only activity 1 or both activities (1.-2) in the project.
Potential applicants:
-a private legal entity established (acquired) in the Republic of Lithuania by a foreign investor (legal entity(ies) and/or natural person(s)), over which the foreign investor (legal entity(ies) and/or natural person(s)) has a determining influence;
-the foreign investor (company);
-a branch established in the Republic of Lithuania by a foreign investor (company).
For the implementation of Activity 1, potential partners are private legal entities and/or research and study institutions.
Requirements for the applicant:
Annual revenue of the applicant (including the applicant’s group of companies) for the last 3 financial years (the applicant’s annual revenue (including the revenue of the group of companies) for at least one financial year in the last 3 financial years preceding the submission of the application must be at least equal to the amount of funding requested:
-if the amount of funding requested is more than EUR 1 000 000, the applicant’s annual revenue (including the revenue of the applicant’s group of companies) has been more than EUR 1 000 000 in at least one financial year during the last 3 financial years preceding the submission of the application;
-if the amount of funding requested is less than or equal to EUR 1 000 000, the applicant’s annual revenue (including the revenue of the applicant’s group of undertakings) in at least one of the financial years during the last 3 financial years preceding the submission of the application was at least equal to the amount of funding requested.
Funding:
-Up to EUR 3 000 000 for Activity 1; intensity: up to 80% (depending on the activity, the size of the company and whether the application is submitted together with eligible partners);
-Up to EUR 4 500 000 for Activity 2; intensity: 25% for large enterprises; 35% for medium-sized enterprises; 45% for micro or small enterprises.
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Selection criteria:
– Level of novelty of the product(s) (innovation) created by the project: the highest score is awarded for the creation of 2 or more products that are novel at world level within 3 years of the project;
–Commercialisation potential of the products created by the project: a higher score is given to those projects with a higher commercialisation potential of the products created by the project or its implementation.
-Researcher jobs created in investee enterprises during the project and within 3 years after the end of the project activities: a higher score is awarded to projects that create more researcher jobs.
-Ratio of the enterprise’s income from products developed and marketed directly during the project and 3 years after the end of the project’s activities to the eligible costs of the project: a higher score is given to those projects which, during the project and 3 years after the end of the project’s activities, have a higher ratio of the enterprise’s income from products developed and marketed directly during the project and 3 years after the end of the project’s activities to the project’s eligible costs.
-The R&D activities to be carried out under the project are to be carried out in the life sciences sector: points will be awarded to applicants carrying out R&D activities in the life sciences.
Call for proposals: expected summer 2021.
If you have any further questions about ,,Smart Invest LT+“, please get in touch!
