SMEs currently employ 55% of the EU workforce in transport, and their important role in the value chain is expected to expand. The rigid value chain of the transport sector is stifling the introduction of innovation by SMEs into new vehicles and transport-related products. RECREATE will address this market failure and focus on the opportunities that new markets offer to innovative and dynamic transport SMEs through the adaption of regional support schemes.
The project aims to improve the capacity and capability of European SMEs to develop and implement products and services more rapidly, boost SME competitiveness and growth.
Objectives will be achieved by supporting research and development, rapid development and implementation of products and services, access to finance schemes, and internationalisation opportunities.
Project website: https://www.interregeurope.eu/recreate/
The project is acting under Interreg Europe programme.
Project duration: 1 June 2018 – 31 May 2023
Total project budget: EUR 1,1 M, European regional development fund
Lithuanian Innovation Center
Organization code 110066875
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