Lithuania Scored Highest in the EU for Changes in the Startup Environment

2017-02-10 17:15

Lithuania scored highest in the EU for changes in the ICT startup environment, as reported in Digital Transformation Scoreboard 2017 survey, a Digital Entrepreneurship monitoring tool by European Commission. Accprding to the Startup Lithuania newsletter, Lithuania is performing above the EU average in four out of seven indicators.

Being one of the best in the European Union, Lithuania is exemplary for the high number of ICT Start-ups. ICT Startups in Lithuania create more and more jobs and consequently play a greater role in the employment share. Compared to other EU countries, Lithuania exceeds the EU average in four out of seven digital transformation areas. Furthermore, the government foresees different initiatives and programmes such as innovation vouchers to innovate and stimulate the uptake of digital technologies in the entrepreneurial environment. These initiatives also aim attackling the lower supply and demand of digital skills and boosting e-Leadership, two of the core challenges of the country, the report suggests.

Overall, Lithuania is performing well in fields related to digital development. It provides of a fairly advanced digital infrastructure, developed entrepreneurial culture and a high number of ICT Start-ups, the report claims.

In comparison with other EU Member States, Lithuania is performing above the EU average in four out of seven indicators. Integration of digital technology is taking off with the increasing number of enterprises purchasing online in the last two years. Moreover, share of enterprises’ total turnover from e-commerce is also steadily growing. Entrepreneurial culture is showing better results than the EU average as over half of the employees are willing to be self-employed with or without governmental support. The entrepreneurial culture is also reflected in the high number of the newly-created ICT Start-ups. Lithuania performs moderately in e-Leadership in comparison to the EU average. Similarly, the supply and demand of digital skills along with the investments a  and demand of digital skills are subject for the improvement.

Lithuanian Startup Ecosystem Is Warming Up

Among Lithuania’s first tech startups was GetJar, an independent mobile app store founded in 2004 and sold to Sungy Mobile in 2014. Its founder, Kaunas University of Technologo (KTU) graduate Ilja Laurs, has since founded Nextury Ventures, which he called the only fund in Lithuania that “has purely private sources of funding, and no links to European assets or money whatsoever.”

According to him, the Lithuanian start-up ecosystem is making a ton of progress and one of the ways to measure it is to ask university students, how many of them see themselves as start-up founders.

“Five years ago, 99 percent would say they just wanted to work for either the government or a big business, and few would even understand what a start-up is. But now I think that about half of the students would say that they really want to build a start-up”, says Laurs.

Donatas Smailys, Head of KTU start-up incubator Startup Space says that Lithuanian start-ups are becoming equal players in the innovation market: “We read about our young companies in global media and that’s the best indicator of our visibility”.

Earlier this year, three start-up companies founded in KTU’s Startup Space were named among the most ambitious Lithuanian start-ups by Forbes.

“The word start-up has replaced the word innovation across the world”, says Smailys.

 

 

Related news

2017-11-08 15:15
Apply now for studying at Kaunas University of Technology (KTU) from Spring Semester. Quality education is a continuous journey of learning and development, full of new knowledge, discoveries, opportunities and ideas. If your goal is international studies, interdisciplinary competences and successful career...
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...
2017-11-17 16:15
Competition is an inherent part of a researcher’s life. In order to be successful in this career, one has not only to be inquisitive, active in raising questions and looking for answers, but also to have international experience. Many PhD students are convinced that to use the opportunity of internship through Erasmus...
2017-11-17 15:30
On Thursday, 16 November Kaunas University of Technology (KTU) management has given up their positions to students on the occasion of the International Students’ Day. This year, several companies led by KTU alumni, also followed the initiative and trusted their companies’ management to the students. 61 students have...
2017-11-17 14:30
Hamlet, one of the most famous productions of the National Kaunas Drama Theatre, directed by Vidas Bareikis, will be shown on the main stage of the Theatre with English translation on Saturday, 18 November. The translation is being provided by Kaunas University of Technology (KTU) technical translation students...
2017-11-17 08:30
On the 16th of November in the University of Cambridge was held conference OpenCon 2017 Cambridge. It is a satellite event of worldwide open access and education initiative OpenCon. In this event participated head of Research information Ieva Cesevičiūtė. More information: http://www.opencon2017.org/...
image
2017-11-16 10:45
This year's Kaunas Science Award was awarded to professor Sigitas Tamulevičius, Director of the KTU Materials Science Institute. This prize is awarded for long active and meaningful scholarly activities, the highest academic achievements, innovative activities and their implementation in Kaunas. According to S....
2017-11-15 13:15
On the 15 th of November, University of Cambridge hosts a conference „Engaging Researchers in Good Data Management”. In the conference participates Library director Gintarė Tautkevičienė and Head of Research Information Services Ieva Cesevičiūtė with the presentation “Towards Research Data Management Training at...