A Breakthrough in Innovation for Lithuania

2017-07-04 17:00

Lithuania has risen 8 places in the European Innovation Scoreboard, published by the European Commission. By rising from 24th up to 16th position, the Lithuania now lies ahead of Poland, Latvia, Spain, Slovakia and Hungary.

According to the report, between 2010 and 2016 Lithuania’s biggest improvements were made in business expenditure on non-technology innovation – which increased 157% in addition to expenditure on R&D – and venture capital investment. This form of investment increased by 1,031%. In 2010, it represented just 7.5% of the EU average, but by 2016 this figure already stood at 84.8%. Lithuania also performed well in the number of international scientific co-publications (which grew 145%) and the proportion of the population with a tertiary education (which rose by 31.6%), Invest Lithuania reports.

According to Donatas Smailys, head of Kaunas University of Technology (KTU) Startup Space, the infrastructure for innovation in Lithuania is becoming more and more welcoming. This is proved by the Lithuania’s current place in the European Innovation Scoreboard and by the global visibility of Lithuanian start-ups.

“The start-ups are aimed at global markets, they are raising foreign investment and learning from best practices, which is crucial for the national economy and promotes our country on the international level. More than 90 per cent of the investment into Lithuanian start-ups is from foreign investors”, says Smailys.

According to the Head of KTU’s Startup Space, start-up culture not only stimulates innovation, but also requires the adequate attention from the state institutions for creating the start-up ecosystem boosting instruments.

“The word start-up has replaced the word innovation across the world”, says Smailys, Head of KTU’s start-up community.

Related news

2015-09-11 14:15
If You need an answer to the question „Why focus on Career?“ there is one given below. Katie Jarvis in her presentation will share some simple tactics and techniques that can help to focus and build Your career. Traditionally ‘Career development’ meant upward promotion. However, organisations are flatter and leaner...
2018-02-20 11:30
This Wednesday, 21 February the open seminar on PhD studies takes place. Use this possibility to find out about the research areas and doctoral programmes, scholarship, mobility and funding, and other subjects relevant for every PhD or prospective doctoral student. “If I had another chance, I would definitely choose...
2018-02-20 10:30
There is still a week left for registration for Erasmus+ study exchange. Choose a university, apply for studies and participate in selection. More information here. “Once you come back from the exchange, you are not the same person who you were before leaving your hometown. Attitudes, values, perception, even the way...
2018-02-19 14:30
Kaunas University of Technology (KTU, Lithuania) researchers have created unique receipt for ultra-high performance concrete. Produced from local and recycled resources their material has the same compressive strength, but is approximately half the price of the alternatives currently existing in the market. Because...
2018-02-14 14:00
Check the #Kaunastic list of celebrations for the 100 years of restored Lithuania in Kaunas. From light festivals and art installations to cosy personal events – this is the weekend to celebrate. On February 16, 1918, the 20 representatives of the Council of Lithuania signed The Act of Reinstating Independence of...
2018-02-13 16:15
If you are thinking about coming to study at Kaunas University of Technology (KTU), this is the right time to apply for funding. Until 1 March 2018 Lithuanian Education Exchanges Support Foundation accepts applications for funding for a short-term study visit in Lithuanian institutions for the academic year 2018/2019...
2018-02-12 16:30
Researchers of Kaunas University of Technology (KTU), Lithuania are working on improving the efficiency of microbial fuel cells (MFC) by using modified graphite felt. Primary results show that the new MFC can generate 20 percent higher voltage than usual cells. Over the past 20 years, nearly three-fourths of human-...
2018-02-12 14:15
February 11 was International Day of Women and Girls in Science. Although the overall global statistics claim that science and engineering fields are dominated by men, the situation in Lithuania is different. 58 percent of Lithuanian scientists and engineers are women, and this is the highest proportion of women in...