Business Plan Competition "Verslauk"

Contact person 
Monika Usevičiūtė
Institution 
PE "Sunrise valley"
E-mail 
monika.useviciute@sunrisevalley.lt
Country 
Lithuania
Do you want to share an instrument/policy or a knowledge Transfer practice? 
Innovation instrument(policy)
What are the following keywords/priorities which better fit the instrument/policy?  
Support to innovative start-ups incl. gazelles
Indicate the country from which the instrument (or policy) is 
Lithuania
What is the title/name of the instrument/policy? 
Business Plan Competition "Verslauk"
Indicate the target group/beneficiaries of the instrument/policy 
New technology based firms/new knowledge intensive service firms
Other
What is the aim/objective? 
Main aims of the practice: - building favourable environment for new business development; - fostering employment of young people; - providing favourable conditions for new SMEs and establishment of new working places.
Give an overview of the instrument 
The practice helps young people not only to get financial support for new business development but also provides good entrepreneurship lessons through participation in seminars, trainings, building contact networks, etc.
What is the date of creation of this instrument? 
Saturday, May 20, 2000
Is the instrument/policy still active? 
Not Active
Identify the main outputs/results (quantitative and qualitative) of the implementation of this instrument 
Data from Vilnius Municipality: - year 2005: 334 applications, 10 winners (teams), 9 companies established, 34 working places created, went bancrupt 2 (from 9); - year 2006: 430 applications, 12 winners (teams), 11 companies established, 18 working places created, went bancrupt 3 (from 11); - year 2007: 453 applications, 10 winners (teams), 9 companies established, 12 working places created, went bancrupt 1 (from 9); - year 2008: 393 applications, 10 winners (teams), 9 companies established, 27 working places created, went bancrupt 2 (from 9); - year 2010: 391 applications, 12 winners (teams), 10 companies established, 21 working places created, went bancrupt 1 (from 10); - year 2011: 742 applications, 10 winners (teams), 9 companies established, 9 working places created.
What is the co-financing/maximum rate allowed by the instrument/policy (if appl.)? 
N/A
Is this instrument/policy linked to a KT practice? 
No