Enterprise Estonia resumes technological investment programme for industrial enterprises
Yesterday, on February 8, Enterprise Estonia resumed accepting applications for the Technology Investment Grant for Industrial Enterprises.
"Compared to the last two rounds, the eligibility of applicants has now been expanded: companies no longer are required to have two years of experience in an industrial sector. In addition, there is a separate grant budget for influential investors and subcontractors," said Pille-Liis Kello, director of the Business Capacity Division of Enterprise Estonia, in describing the third application round.
An influential investor is considered to be a company registered in Estonia which in a maximum of two years invests at least 100 million kroons and creates 100 new jobs. The fact that subcontractors are now distinguished will serve as a stimulus for local subcontractors whose output is exported via an influential investor or major corporation (over 250 employees) to develop their own products and increase their competitiveness.
The grant, financed from the European Regional Development Fund, can be applied for by enterprises who are planning at least one of the following activities: expansion of an industrial enterprise, diversifying their output with new products, or complete reorganization of their production process. The grant for influential investors and subcontractors can be applied for at any time during the round and the budget is 100 million kroons. The deadline for applications from other undertakings is April 30 and the budget for the third round is 228.8 million kroons.
The first application round for the Technology Investment Grant for Industrial Enterprises began in autumn 2008 and in less than a year, Enterprise Estonia provided 580 million kroons in support for procurement of new technology to 110 Estonian industrial enterprises. Applications were submitted by 317 industrial enterprises for a sum of close to 1.5 billion kroons. Companies that received a grant in the first or second round of the same programme for a project still in progress will not be eligible for assistance in the third round.
The objective of the Technology Investment Grant for Industrial Enterprises is to incentivize investments that help industrial enterprises increase their productivity, export potential and the value added of their products as well as to find new marketing opportunities and create jobs with greater value added.
