According to the president, the adopted amendments will create conditions to improve the environment for promoting innovation in Lithuania, to more effectively use the innovation potential of science and business, opens up possibilities for cooperation between business and science, the presidential press service said.

The new regulations define the principles of financing the area of technology and innovation and create conditions for the establishment of a state innovation-promoting fund to support science and education institutions and innovative businesses and promote sustainable cooperation.

The Seimas of Lithuania adopted the above-mentioned laws in late June. They will come into force in January.