Investicijų ir verslo garantijos (INVEGA) invites interested parties to submit comments on the draft Call for Expression of Interest and Terms and Conditions for new risk capital instrument “Accelerator 2” planned by the Ministry of Economy and Innovation.
Please submit your comments no later than Tuesday 20 April 2021 by email at email@example.com. Comments may be submitted in either the Lithuanian or English language.
The final Call for Expression of Interest is intended to be published in May 2021 in English language. The final Call for Expression of Interest may differ in part to this draft version published for comment.
The new instrument is aimed at promoting innovative activities in Lithuania by providing investments in emerging and viable high-tech companies in Lithuania. The instrument shall offer pre-acceleration program, acceleration programs and equity as well as quasi-equity investments in viable businesses.
This financial instrument will be financed by the Innovation Promotion Fund. Fund manager selected by INVEGA will be expected to raise additional funding from independent private investors.
The Innovation Promotion Fund was established on 30th December 2020 by the Ministry of Economy and Innovation, the Ministry of Finance and INVEGA and is financed from the State budget.