LATEST INSIGHTS AND UPDATES
July, 2017
DEMATIC TO RAPIDLY EXPAND ENGINEERING SERVICES CENTRE IN KAUNAS

Dematic, a world leader in logistics automation systems, is dramatically expanding its engineering services centre in Kaunas, Lithuania’s second largest city. Having been operating in the city for nearly a decade, the US company now plans to add a further 40 highly qualified specialists in finance, control engineering and computer simulation to its Kaunas team in the next three years.

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INVESTMENT CLIMATE
Lithuania rises dramatically in European Innovation Scoreboard

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

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LITHUANIA IN FOREIGN MEDIA
Red Herring: Fintech is king of Lithuania’s tech revolution

Asked to name Europe’s financial technology hubs, you might take a while to reach Lithuania. But something special is happening in the Baltic state, and it’s backed by a startup ecosystem that is one of the continent’s fastest-growing.

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Realtid: Lithuania’s ecosystem favourable for fintech investments

Lithuania is establishing itself as a hub for fintech: and it’s doing it very successfully. Up to 10 fintech start-ups were established in Vilnius last year, and currently attempts are being made to attract Swedish investors to establish companies in Lithuania. 

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LITHUANIAN MEDIA
US payment giant opens unit in Vilnius, “a small version of Silicon Valley”

The US payment terminal systems’ company Harbortouch has officially opened its Vilnius office. The company was founded by the well-known US businessman Jared Isaacman, a multi-millionaire and mogul of both the payment terminal and aviation industries. Its Vilnius office will house a product development department.

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€200 million investment to place Biotech at the heart of Lithuania’s economy

One of the founders and leaders of Lithuania’s biotechnology industry, Prof. Vladas Bumelis, has ambitious plans for establishing the country as a bio-economy. Central to these plans will be three state-of-the-art facilities who will together receive €200 million in investment. Mr Bumelis is coordinating the construction of these facilities, one of which will be used to print cells and organs using 3D printers.

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Kaunas facility building the robotics for Husqvarna lawn mowers

Husqvarna, the producer of forest and gardening outdoor power tools, will have the electronics for their robotic lawn mowers made in a facility in Kaunas, Lithuania. The KItron UAB plant is part of Kitron Group, a Norwegian electronic manufacturing services group.

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OTHER NEWS
Lithuanian Parliament approves new Concessions law
2017-06-16
NanoAvionics receives 3.2 million EUR investment to commercialize its smallsat propulsion system
2017-06-05
MEET US AT EVENTS
Academic Symposium on Privacy

The need for new online data privacy solutions as well as existing solutions will be presented and discussed at the Academic Symposium on Privacy in Vilnius. Belgian non-profit organisation Geens.com and Go Vilnius are organizing the event with support and participation from the European Commission Representation in Lithuania, Vilnius University, IBM and many more.

When: 4 July 2017
Where: Vilnius, Lithuania

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Baltic Strategic SSC Conference

The event is aimed at “connecting minds” to do business, increase efficiency and ultimately, improve productivity and quality of service delivery. Corporate speakers with the highest level of seniority in the SSC arena will be gathering in Vilnius to share their experience and network with like-minded professionals wishing to shape the future of the industry in the region!

When: 17-18 October 2017
Where: Vilnius, Lithuania

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6th ECN Crowdfunding Convention

How will online access to finance look like in three years from now? What new technologies are there to improve the process and better serve the customers? How are established financial institutions reacting to these changes? These are the questions that the 6th ECN Crowdfunding Convention will address with the input of high-level speakers and sector players.

When: 19-20 October 2017
Where: Vilnius, Lithuania

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CONTACT US

Ieva Koncevičiūtė
Junior Investment Advisor | Manufacturing

T: +370 5 215 9760
E: ieva.konceviciute@investlithuania.com

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As a part of the Ministry of Economy of the Republic of Lithuania, Invest Lithuania provides free advice to global companies interested in doing business in Lithuania and introductions to experts on the ground. So if your company is considering a business set-up or looking to access one of Europe's most skilled talent pools, make us your first stop.