The project aims to finance 38 spin-off companies’ research and experimental development (R&D) commercialization projects. A total of 46 partners – spin-off companies and research and education institutions – are participating in the activities.
The measure focuses on one of the key challenges of the Lithuanian innovation ecosystem – the limited competitiveness of R&D results and their transformation into marketable products. The project’s objective is to create conditions for newly established spin-off companies to develop innovative products and successfully transition from a prototype to a market-ready solution. The target group includes research and education institutions, private legal entities, scientists and researchers seeking to commercialize scientific results.
Experimental development activities are financed from prototype demonstration (R&D stage 7) to final product evaluation (R&D stage 9), as well as activities related to preparation for product certification.
This agreement marks an important step in strengthening cooperation between science and business and creating more favorable conditions for scientific knowledge to become competitive, high-value-added products.
The Ministry of Education, Science and Sports of the Republic of Lithuania is the manager of the 2022–2030 development program. The source of financing is EU funds and co-financing funds.
