Lithuanian Ministry of the Economy and Innovation launches a call of €15M to support Vilnius-based startups 

The Ministry of the Economy and Innovation has launched a call of €15 million to fund startups and spinoffs in fields such as artificial intelligence, blockchain technology, and robotics process automation and operate in the Vilnius region, Startup Lithuania writes.

Application is opened by 30 September 2023.  Full terms and conditions of the call can be found on the EU Investment website.

• All startups will be financed at 100% intensity and there is no age requirement. Micro, small or medium-sized enterprises, startups and spin-offs, operating in Vilnius region are eligible for project funding. The maximum amount of funding available for a project is €102,000.

“The startup ecosystem is one of the main drivers of Lithuania’s economy. Our goal is to at least triple the size of Lithuania’s startup ecosystem in the coming years to make it known internationally and appreciated for its innovative solutions, which bring practical benefits to businesses and citizens alike,” 

Aušrinė Armonaitė, Minister of the Economy and Innovation.

• The investment is aimed to help startups to develop a wide range of AI solutions, including data analytics for more efficient medical diagnostics, smoother traffic flow management, etc