We’re thrilled to announce that Monitok has been awarded a substantial grant from the European Union, aimed at supporting the development and marketability of blockchain-based products. This exciting milestone underscores our commitment to innovation and solidifies our position as a leader in the blockchain space.

About the Grant

The EU grant program, known as “Financial incentives for start-ups and spin-offs to develop products and solutions for IoT, blockchain technologies, robotic process automation,” is designed to boost the development of cutting-edge technologies. With a total fund of 15 million euros, the program targets startups and spin-offs, providing financial support to help bring innovative products to market. 

Monitok has been awarded the maximum funding of 102,000 euros, a testament to our project’s potential and the meticulous evaluation it underwent.

Competing for this grant was no small feat. Startups from across Lithuania competed for a share of the 15 million euros, each presenting their projects. Projects were evaluated on several criteria, including the ability to develop a final product prototype and achieve marketability. Our project scored the maximum points of 100, securing 102,000 euros in funding. This achievement highlights our dedication and the promising future of our blockchain-based solutions.

What This Means for Monitok

Combining this with a recent pre-seed funding of €450K means a significant boost for Monitok. The funds will be pivotal in advancing our blockchain product development, from creating final prototypes to introducing our solutions to our customers. This support not only accelerates our timeline but also enhances our capacity to deliver innovative and reliable blockchain solutions to the market.

With this grant, Monitok is well-positioned to continue leading in blockchain innovation. Our focus remains on developing secure, efficient, and user-friendly blockchain products that meet the evolving needs of our users. The EU’s support validates our vision and strengthens our resolve to push the boundaries of what’s possible with blockchain technology.

Stay tuned for more updates as we continue this exciting journey of growth and development. Monitok is committed to setting new standards in the blockchain industry, and this grant is a significant step forward in that mission.

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