The Innovation Agency of Lithuania has opened a new funding opportunity for GameTech and EdTech startups, offering grants of up to €62,046.60. A total of €992,745.60 will be distributed across selected startups, with a focus on innovation-driven companies in these fast-evolving sectors. The funding is aimed at startups that are registered in Lithuania for no more than five years and show significant potential for growth and technological advancement.
In addition to the financial support, selected companies will be given access to acceleration programs that provide mentorship and resources to help speed up their market entry. The goal is to nurture innovative solutions in GameTech, which includes technologies like virtual reality and AI, and EdTech, which is transforming the education sector through new learning platforms. This initiative is part of Lithuania’s broader strategy to support its startup ecosystem and strengthen its position in both the global tech and education markets.
GameTech and EdTech are among the fastest-growing and most innovative sectors globally, offering immense potential to drive economic growth while addressing social and educational challenges.
GameTech encompasses not just game development but also advanced technologies such as virtual reality, artificial intelligence, and interactive media. This sector is crucial for fostering creativity, technological breakthroughs, and high-value products. GameTech also has significant export potential, as digital products and services can easily adapt to global markets, boosting Lithuania’s competitiveness on the international stage.
EdTech, on the other hand, is transforming modern education and learning processes. Innovative platforms and tools such as personalized learning systems, virtual classrooms, and learning analytics improve the quality of education and increase accessibility worldwide. This is particularly relevant in today’s fast-changing technological environment, where updating skills and knowledge is more critical than ever. Investments in EdTech strengthen educational systems and prepare societies for the future labor market.
By supporting the growth of startups in these sectors, the Innovation Agency is helping Lithuania establish itself as a regional leader. Fully leveraging the potential of GameTech and EdTech can significantly contribute to the country’s economic and social development, creating cutting-edge solutions that redefine the rules of both gaming and education.
Applications are open until February 6, 2025, 5:00 PM. Applicants must complete the designated application form and submit it via email to paraiskos@inovacijuagentura.lt. All required documents and the application form are available on the ES Investicijos website.
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Read the orginal article: https://arcticstartup.com/the-innovation-agency-of-lithuania-offers-grants/
