The measure New Opportunities LT is a non-refundable grant that allows SMEs to participate in international exhibitions and fairs.
The measure New Opportunities LT is a non-refundable grant that allows SMEs to participate in international exhibitions and fairs.
The measure is presented by the Ministry of the Economy and Innovation and is managed and implemented by Lithuanian Business Support Agency. Projects are selected by using contest method.
The aim of the measure is to encourage SMEs to focus as much as possible on the search for new foreign markets for export and the development of existing markets.
The maximum amount of project funding that can be obtained is 50 percent of the total eligible project costs. The applicant must contribute to the financing of the project by at least 50 percent of the total eligible costs. Despite of this, the funded amount depends of the country selected to participate in. Therefore, the lump sum for one exhibition differs from 10238 to 13262 EUR.
The first main criterion for the applicants is that it should be small or medium sized enterprise with not less than 145K EUR annual turnover for small entity and not less than 250K EUR annual turnover for medium entity per last 3 financial year. The second one criterion is that at least 50 percent of the applicant's total sales structure should consist of product(s) produced by the applicant itself (in accordance with the financial statements submitted for the last year).
The criteria for selected exhibitions are that it should be held abroad and attended by not less than 10 percent of international participants.

Resources needed

7M per 2019 call

Evidence of success

The measure was presented in 2010 and runs for 8 years already. Up to 1000 enterprises have received a chance to present their products and services for foreign markets. In application form each enterprise should determine at what level its export indicators will increase influenced by the project. During all these years all entities justified expectations and successfully completed their projects.

Potential for learning or transfer

One of the biggest advantages of this measure is the simplicity of application for the grant. SMEs often don’t have the human resources allocated to preparation of applications. The reporting procedures are also very simple and easy to perform.
The idea of this measure is also quite easy to transfer to another region and it also can be applied in various scope – for individual or for a group of applicants.
By transferring this measure, other countries can increase the competitiveness of their SMEs, present companies and its products at international exhibitions abroad.
Main institution
Lithuanian Business Support Agency
Location
Lietuva, Lithuania (Lietuva)
Start Date
December 2018
End Date
Ongoing

Contact

Please login to contact the author.