30 million for the commercialization of R&D results. euro support | Business

LMT applications will be available in May, 30 million. EUR is planned to be distributed until 2029. The duration of projects, the activities of which include activities related to product certification, is up to 24 months, the maximum possible funding is 150 thousand. euros.

According to LMT Science and Business Cooperation Department Head Lina Kisiele, this way is expected to encourage science and study institutions (MSI) to create opportunities to develop products with commercial potential in a green company.

“If the idea is developed at MSI and has not yet been transferred to a spin-off company, this tool provides an opportunity to evaluate the product before the establishment of the company. In that case, the application should be submitted by MSI and if during the expert evaluation the application was assessed as financeable, the company should be established before the date of signing the financing agreement”, said L. Kisielė in the report.

The start-up company must be created no earlier than 3 years ago and meet one of the following requirements: the founder or one of the founders must be an MSI or have rights to an agreement with MSI on the terms of ownership, use or transfer and benefits of the intellectual activity results created by MSI.

The maximum possible financing part of the project is 100 percent. of all eligible project costs.