The Lithuanian Ministry of the Economy and Innovation allocates €6 million to boost digital innovation using open data, aiming for €1 billion economic upsurge – ArcticStartup

The Lithuanian Ministry of the Economy and Innovation has launched a funding program worth €6 million to support local businesses in creating innovative digital services using open data. This initiative aims to help small and medium-sized enterprises (SMEs) across Lithuania, providing up to €70 thousand per project. Proposals can be submitted until February 29, 2024, through the Central Project Management Agency. This funding is part of a larger plan to invest almost €1 billion by 2023, focusing on business, digitalization, and sustainable projects to drive Lithuania’s economic growth. “Open data is a strategic asset – if properly managed and used, it generates significant added value in various sectors. By providing funding for Lithuanian businesses to use open data both in the digital space and in the development of innovative products and services, we are strengthening the digital state and creating even more opportunities for Lithuania,” said Aušrinė Armonaitė, the Minister of the Economy and Innovation. The call is open to small and medium-sized enterprises (SMEs) operating in both the Capital City and the regions of Central and Western Lithuania. A total of €3 million will be available for business in both regions. The maximum amount of funding available per project is €70 thousand. “With this investment, we are promoting the use of demand-driven open data to develop innovative solutions and digital services. Thus, we will increase social, societal and economic value and raise the level of use of digital services,” says Erika Kuročkina, the Deputy Minister of the Economy and Innovation. The indirect impact of open data on market size may be as high as 78%. It also makes a significant contribution to reducing public sector costs, with estimated savings of more than €1 million in public funds in 2022 alone. Open data is freely available data, information or parts of data recorded in the activities or documents of institutions, which are published in open formats suitable for automated retrieval and can be reused and disseminated for legitimate purposes. The open data required for the implementation of the projects should be drawn from the Lithuanian Open Data (data.gov.lt) and other publicly available open data portals (Open Lithuanian Finance Portal, Official European Data Portal, etc.). The deadline for submitting applications under the afore-mentioned measure is 29 February 2024 to the Central Project Management Agency (CPMA). Detailed terms and conditions of the call are available on the European Union Investment website. In order to strengthen the Lithuanian economy, the Ministry of the Economy and Innovation will launch a series of calls for proposals totalling almost €1 billion by the end of 2023. Around EUR 365 million is earmarked for business, innovation and investment, €320 million for digitalisation of the state and business, and €268 million for a greener economy. The measure “Promoting data accessibility and re-use” is implemented through the Investment Programme for European Union Funds for the period 2021-2027.