Updated "Smart FDI" project selection criteria are announced

The call for proposals under the measure “Smart FDI“ was suspended on 31th of December 2018, since the Ministry of the Economy and Innovation of the Republic of Lithuania intended to adjust specific project selection criteria which have been announced for public discussion today. The following two extra criteria were determined:

  • During the project, at least 3 researchers' jobs must be created and maintained for at least 3 year.;
  • Applicant's annual income (including applicant's group of companies) was at least EUR 1 000 000 for at least one financial year in the last 3 years or at least EUR 1 000 000 was invested in the applicant's company over the last 3 years.

Other criteria remained the same as previously approved:

  • Product(s) developed during the project or following the project’s implementation is (are) new only to the firm, new to the operating market or new to the world.
  • The project complies with the implementation of Smart Specialization areas and their priorities.
  • The investor has been operating for no more than 10 years in Lithuania and has no experience in the implementation of R&D activities in Lithuania.

Comments and suggestions for announced specific selection criteria may be submitted by 22 February. After evaluating the comments, the Ministry will prepare and publish the final version of the selection criteria as well as adjust the description of financing conditions of the Smart FDI projects accordingly. The call for proposals is expected to be opened again at the end of March.

Advanced Advice prepared 5 R&D projects for foreign investors which were funded under the measures “Smart FDI” and “SmartInvest LT +”. Another application, prepared by our team, is currently being evaluated. 12 projects have been funded under these instruments in total.