The Business and Innovation Agency (API) launched its activities on June 1, 2016. The API is a contributory organisation reporting to the Ministry of Industry and Trade. The agency will be responsible for the implementation of the support for business and innovations from EU’s structural funds. API will administer the 2014-2020 Business and Innovations for Competitiveness Programme. Lukáš Vymětal, he current director of CzechInvest’s Structural Funds division, was appointed API’s director.