Seed Money Facility

Seed Money Facility was established in order to facilitate the preparation of individual projects and to support the establishment of new partnerships created for the purpose of designing and implementing new projects. Depending on the type of the project, the innovative approaches, technical projects, investment projects, preparation of financial and economical analysis and other may be promoted by providing seed money funding.

The aim of the Seed Money Facility is to promote the support, which would help end-recipients properly prepare the documentation, required for the individual projects during the 2nd Open Call. The Ministry of Finance of the Republic of Lithuania is responsible for the management of the Fund. The budget of the Seed Money Fund – EUR 566.000 – will be distributed during one open call.

Minimum and maximum grant amount per sub-project

The Fund will provide the minimum EUR 5.000 and the maximum EUR 20.000 of grants for the sub-projects.

The grant from the Fund will not exceed 80 percent of total eligible sub-project costs. The remaining 20 percent of the costs will be provided by the end-recipients.

Duration of sub-projects

Maximum duration of the sub-project – 8 months.

The Open Call for proposals within Seed Money Facility fund was closed on the 15th of June 2007. During the call there were 234 sub-project applications received. After the value-for-money assessment 35 sub-project applications were qualified as eligible for financing within Seed Money Facility.