Business Development, Innovation and SMEs

The program aims to contribute to a higher added value and sustainable economic growth, as well as to boost competitiveness of Lithuanian companies, focusing primarily on very small, small and medium-sized business (SMEs). Strengthening bilateral cooperation between Lithuanian and Norwegian companies lies at the core of the programme.

Who will receive the investments?

In order to accelerate shift towards sustainable economy , investments under Green Industry Innovation focus area will be allocated to projects aimed at the development and commercialisation of  new environmentally friendly products or technologies , as well as application of innovative technologies which help to use natural resources more efficiently or reduce negative environmental impact.

2014-2021 EEA and Norwegian Financial Mechanisms aim to reduce economic and social disparities in the European Economic Area and to strengthen bilateral relations between Iceland, Liechtenstein, Norway and 15 beneficiary countries in Central and South-Eastern Europe and the Baltic States.

Lithuanian IT sector is the largest in the Baltic States as well as the most receptive to investments. The program will focus on exploiting the potential of the IT sector by investing in the development of innovative IT solutions, products and technologies that are applicable to various industrial sectors.

Projects can be implemented with partners. Any Lithuanian or Norwegian private or public legal person can be a partner. For example, a private company, research institution, association, public institution, etc. Partnerships with Norwegian companies will be additionally encouraged.

In order to increase the capacity of Lithuanian companies to sell innovations, the Program will invest in strengthening business skills. 

Programme results will be measured by the number of innovative products or technologies created, commercialized or applied, increased turnover and profit, and the number of newly created jobs. Also, Green Industry Innovation projects will contribute to reducing energy consumption and CO2 levels.

More information about possibilities to find a partner in Norway can be found on the Program Partner’s Innovation Norway website and their partner database, as well as on the Green Technology Platform The Explorer.