This aim of the GP is to encourage scientists, researchers and students to commercialize R&D results by establishing spin-off and start-up companies
Startups and spinoffs in cooperation with HEIs can access financing for commercialization of already existing prototypes following de minimis conditions up to 20 000 eur per short 1 year project using this GP measure. Minimum result after one year period should be developed prototype.
Selection method of projects is based on call for proposals under competitive basis. Competition has two phases:
1 phase - assessement of innovative idea (requirements - prepared business plan and written intent to establish a start-up/spin-off company)
2nd phase - assessment of full application (requirements - established start -up/spin - off company and signed joint activity agreement).
3 special criteria: contribution to RIS3, prepared business plan, IPR guidelines in participating research institution. 3 quality criteria: TRL level, profitability potential, competence and experiance of involved personnel.
The GP measure is funded from ERDF (2014-2020). Form of funding - subsidy (grant).
GP measure can be administered by limited staff: manager and evaluation experts. A list of experts (database) is needed. Some experts from the business side or scientist with business experience. 3 experts are evaluating each proposal,
Initial budget of 10 million Euro or less.
Evidence of success
Sound, simple and efficient scheme. 48 small enterprises, mainly ICT – 32, nanotechnology – 7, biotechnology – 5, and mechatronics – 4. 150 work places, over 150 innovative products and 15 patent applications were created during 2012-2015. According to year 2015 income reports project participants had 2 mln. eur overall sales income. During 2014-2016 53 new projects have received financing. From 2012 - 2016 the program has distributed funding of 800 000 Euro.
• For non ICT projects financing is too small and 1 year period is a short time for implementation of more complex goals
• From 2012 - 2016 it was funded from national budget and was a very successful measure, from 2016 - now, it is funded from ERDF and there are some issues due to changed rules
Potential for learning or transfer
• This GP pays attention to one of the forgotten groups, those researches or small SMEs, start‐ups, etc. with preliminary results (in prototyping phase in the best cases) that try to reach the market. The GP faces the real gap commonly found in the value chain of a novel product, service, etc. when pretending to scale up and reach the market by providing a clear commercialization scheme.
• It is a bottom-up approach, the vouchers amount is really helpful to build up the scheme,
• Quite simple measure
• Well balanced selection criteria
• This project will help start ups to finance the first half year and could be an initiative to make first steps of the company formation to find new investors.
• The strength is that it is national, that all Lithuanian companies have access to the program.
• It is promoted the entrepreneurial activities in HEIs, providing further opportunities for learning.
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