The EUROSTARS Programme is the first European programme specifically dedicated to SMEs.

It aims to stimulate European entrepreneurship by funding companies engaged in research and development (R&D) and supporting their bids to lead international collaborative R&D and innovation projects.

The EUROSTARS programme was created on the basis of Eureka experience. It will combine the successful bottom-up approach of EUREKA with combined financial backing from both national funding instruments and the European Commission, through the Seventh Framework Programme (FP7). EUROSTARS stimulates and supports a niche market of research-performing SMEs in their innovative and often high-risk R&D projects, bringing more European technologies to the world market faster.

EUROSTARS programme is open for funding applications on a continuous basis, with an average of two application submission deadlines each year.

EUROSTARS programme budget consists of three parts for the period 2007-2013:

• National funds from EUROSTARS member countries - 300 million euro;

• European Commission funds from Seventh Framework Programme - 100 million euro;

• Private sector funds - 400 million euro.

Lithuania is going to earmark 3 million euro for national participants during the period of 2007-2013. The budget of 0,5 million euro is foreseen for successful projects every year.