Main Projects INOVEKS

Innovative business promotion (INOVEKS)


Project acronym: INOVEKS

Project coordinator
: Agency for Science, Innovation and Technology

Project budget: 2.785.200,13  EUR

Supported by: European Regional Development Fund (ERDF) and The European Social Fund.

Project end date: October 1, 2015 (duration 24 months). 

Project partners:

  • Kaunas University of Technology
  • Lithuanian University of Health Sciences
  • Lithuanian Energy Institute
  • Northtown Technology Park
  • Vilnius Gediminas Technical University
  • Vytautas Magnus University
  • Aleksandras Stulginskis University
  • Kaunas science and technology parc
  • Science and Technology Park TECHNOPOLIS
  • Vilnius University
  • Vilnius University International Business School
  • Sunrise Valley Science and Technology Park
  • Visoriai Information Technology Park
  • Klaipėda University
  • Klaipeda Science and Technology Park

Project description:

Agency for Science, Innovation and Technology (MITA) is the main governmental institution responsible for innovation policy in Lithuania. Innovation is one of the key factors for the development of national economy, but, according to the Innovation Union Scoreboard (the European Union (EU) Member States' performance in Innovation assessment tool), Lithuania now ranks of the last in the EU. Therefore it is necessary to promote development of Innovation in both Business and Science areas, with particular emphasis on mutual cooperation and technology transfer processes.

During the project implementation period science and study institutions in association with science and technology parks will:

  1. Run a selection process of the best ideas from undergraduate, post-graduate and PhD students and young  scientists. Based on their ideas teams will establish small and medium-sized (SME) enterprises.
  2. Help to clarify and test existing business ideas, advice on prototypes and (or) models creation, as well as  opportunities to get additional research for the  development of  the products, help to develop high-quality investment proposals needed to support the young enterprises

Project tasks:

To create opportunities for students, doctoral students and young researchers to generate, refine business
ideas and establish new high added value technology start-ups, getting advice in creating a model and (or) a prototype and get preferential conditions for businesses development.

Project activities:

  1. Run a selection process of the best ideas from undergraduate, postgraduate and PhD students, and young scientists, consulting on submission of ideas and legal business issues;
  2. Expert advices for the  SMEs in regard to research commercialization, technology transfer, business development, prototypes and (or) models creation issues. SMEs incubation in science and technology parks.