Lithuania Sets Record in the Global Innovation Index: A Growing Hub for Startups and Innovation
Lithuania has reached a new milestone in the Global Innovation Index, climbing two places to 33rd among 139 countries. This is Lithuania’s highest position ever and a strong signal of the country’s rapid progress in building a competitive and innovation-driven economy.
“Lithuania is making remarkable progress in innovation, which is also reflected in the Global Innovation Index. This achievement is especially significant given the current global economic uncertainty and ongoing geopolitical challenges that directly affect our region’s investment climate. Yet we continue moving in the right direction — towards building a high value-added, startup-driven innovation ecosystem,” said Acting Minister of Economy and Innovation, Lukas Savickas.
Lithuania’s strengths lie in areas that are directly shaping its dynamic startup ecosystem. The country ranks 3rd globally for the share of women with higher education employed in the labor force, 8th for mobile app development, and continues to lead in unicorn value relative to GDP. These results highlight Lithuania’s role as an agile and forward-looking innovation hub.
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Originally published on 16 Sep
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The coalition parties have agreed that either the state or Elering will support the construction of energy storage capacities. The Ministry of Climate historically believed energy storage would be built on market demand. The Ministry of Education and Research, Kristina Kallas stated, “If we purchase offshore wind energy on a large scale and develop these capabilities, we must also ensure that we have the infrastructure for long duration energy storage.” She emphasised that constructing an offshore wind facility without appropriate energy storage poses a significant risk of energy being exported.
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Originally published on 27 Jan
The Estonian Ministry of Economic Affairs and Communications has announced the launch of a €100 million Defence Fund, established to support the development of innovative defence and security capabilities to meet the growing global demand for new solutions. Managed by national fund manager SmartCap, the fund will provide direct investments to defence companies and funds investing in military and dual-use technologies.
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Originally published on 21 Jan
Doubts have been raised about Energiø Bornholm’s relevance and economy, but the project has never been more important. Besides being a crucial project in the European fight against climate change, the energy island has every opportunity to become a good business for Denmark.
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Originally published on 15 Jan
US healthcare products manufacturer Hollister Incorporated is expanding its Lithuanian operations. This month, the company has officially opened its financial services center, Hollister SSC Lithuania, complementing its manufacturing facility, Hollister Lietuva, located in the Kaunas Free Economic Zone. Building on this growth, the company has announced plans to establish a new product development (NPD) center at its Lithuanian facility later in the year.
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Originally published on 14 Jan
Estonia opened the first Business Hub in U.S. Located at the Embassy of Estonia in Washington, D.C., the Business Hub will serve as a bridge between Estonian companies and the vast business opportunities in the U.S. market. A delegation of Estonian defence industry innovators was present at the opening event, also attending the annual AUSA conference.
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Originally published on 17 Oct