Promotion of Non-Technological Innovation Development at UAB “Baltec CNC Technologies” through Investments in Design, Process/Organizational Innovations, and Branding, Increasing the Company’s Integration into International Value Chains
From November 8, 2024, to November 8, 2026, UAB “Baltec CNC Technologies” is implementing the project “Promotion of Non-Technological Innovation Development at UAB “Baltec CNC Technologies” through Investments in Design, Process/Organizational Innovations, and Branding, Increasing the Company’s Integration into International Value Chains,” No. 02-040-K-0172. The project is co-financed under the 2022–2030 Development Programme managed by the Ministry of the Economy and Innovation of the Republic of Lithuania, within the Economic Transformation and Competitiveness Development Programme progress measure No. 05-001-01-05-07 “To Develop a Consistent System for the Promotion of Innovative Activities,” activity “Promotion of Non-Technological Innovation Development (Central and Western Lithuania Region).”
The total eligible project expenditure amounts to EUR 259,688.61, of which EUR 124,454.14 has been allocated to the project promoter for implementation. The project is financed by the European Regional Development Fund.
The objective of the project is to implement process and organizational innovations within the company, develop and introduce new product designs to the market, thereby increasing the company’s participation in international value chains.
UAB “Baltec CNC Technologies” is a metal processing company with many years of experience in manufacturing precise mechanical components. The company provides services to the automotive, general machinery manufacturing, medical rehabilitation equipment, and energy industries. The majority of its products and services are exported to Western countries.
During the implementation of the project, new organizational innovation solutions will be introduced, focusing on human resource management systems and balanced performance indicator systems, as well as the implementation of process management and optimization technologies for production monitoring and control. This includes new methodologies (such as LEAN and Solution Gear), Internet of Things (IoT) solutions, and real-time data analysis to optimize production flows and improve decision-making.
The project is not only focused on organizational and production process innovations but also on the development of new product designs that meet the highest standards of functionality and aesthetics. By applying design thinking methodologies, the company aims to create products that better meet customer needs and feature unique characteristics.
During the project, it is planned to develop four new original design solutions, implement two organizational innovations, and introduce four process innovations.
Project benefits:
The project will create conditions for the implementation of non-technological innovations that will help the company increase its competitive advantage and attract new clients by integrating into international value chains.
Project No. 02-040-K-0172
Administering authority: Innovation Agency
The project is financed by the European Regional Development Fund.
Project budget: EUR 259,688.61
Funding amount: EUR 124,454.14
More information: www.esinvesticijos.lt
