Lithuania launches its Innovation Hub in Silicon Valley

Lithuania launches its Innovation Hub in Silicon Valley

Published: 31-01-2024 07:01:00 | By: Pie Kamau | hits: 2242 | Tags:

Lithuania is expanding its presence in Silicon Valley by launching Innovation Hub Lithuania. This platform will serve as a bridge to connect US businesses and academia with reliable partners from Lithuania's innovation ecosystem. It will be the first such Lithuanian business representative platform designed to connect top Lithuanian technology innovators with potential partners.

The Lithuanian Tech Hub will start its activities on January 31 as a member of the Nordic Innovation House in Palo Alto, California. The launch of Innovation Hub Lithuania (InnoHub Lithuania) will bring together representatives from Lithuania's Ministry of Economy and Innovation, Innovation Agency Lithuania, and the country's high-tech sector.

Ausrine Armonaite, Minister of the Economy and Innovation, Lithuania: "The establishment of InnoHub Lithuania, the country's technology home in Silicon Valley, represents a likely and expected milestone for our tech innovation landscape. In the recent IMD World Talent Ranking, Lithuania secured 23rd position among 64 countries and is 34th out of 132 countries in the Global Innovation Index. With such a wealth of talent and innovative approach, the Lithuanian technology sector can be advantageous for a huge and lively US market looking for a competent partner and reliable European technology solutions."

InnoHub Lithuania is an initiative launched by Innovation Agency Lithuania, a non-profit agency under Lithuania's Ministry of Economy and Innovation. It seeks to accelerate the growth of Lithuanian companies operating in the High-Tech sphere, especially – laser technologies, ICT, and life sciences. According to Romualda Stragiene, Head of Innovation Agency Lithuania, InnoHub Lithuania will provide comprehensive support for Lithuanian companies looking to export to the US and be the local spot for US companies to connect with Lithuanian high-tech leaders.

Becoming a member of the Nordic Innovation House, InnoHub Lithuania will foster interstate business knowledge-sharing and collaboration with access to local events and face-to-face meetings. The Hub will support its members in establishing useful local business contacts, adapting and expanding their market reach to the US.

Today, 95 of 100 global universities, NASA, CERN, and other world-class institutions use Lithuanian laser technologies. Around 80 percent of Lithuanian laser production reaches almost 80 countries worldwide. We can't overestimate the growth and importance of other Lithuanian priority sectors – ICT and Life Sciences, including the emerging startup ecosystem with its three unicorns and leadership in CEE.