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

2017-03-22 11:15
The Lithuanian Ministry of Education and Science is offering 70 partial and fully-funded postgraduate scholarships for international students. Citizens from Ukraine, Belarus, Georgia, Armenia, Azerbaijan, Moldova, Japan, China, Korea and Israel, as well as foreigners of Lithuanian origin, are eligible to apply for...
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...
2017-03-27 14:45
28th of March, in Central library (Donelaičio st. 20) as a result of electrical installation works library working hours will be shorter by half an hour.
image
2017-03-27 09:45
70 scholarships will be offered for the academic year 2017/2018.  A monthly scholarship and a benefit that covers the study cost is offered for the nationals of the Republic of Ukraine (40 grants altogether); A monthly scholarship and a benefit that covers the study cost is offered for the ...
2017-03-24 16:30
The team of students from Kaunas University of Technology (KTU) Faculty of Informatics has come ahead of 950 teams of programmers in the international competition Google Hash Code, organised by Google Corporation. The competition took place at KTU last month. By taking the 55th place in the world KTU students were...
2017-03-23 17:30
Independent research, initiated and carried out by Kaunas University of Technology (KTU) interdisciplinary migration research cluster shows that introduction of Euro in Lithuania coincides with the fourth wave of emigration. In 2015, more than 40 thousand people left Lithuania, and in 2016 – around 50 thousand....
2017-03-21 11:45
On the 25th of March (Saturday) Chemical Technology Library (Radvilėnų rd. 19) working hours will be from 9 am. until 5 pm.
2017-03-21 11:45
22-23rd of March, in Central library (Donelaičio st. 20) as a result of electrical installation works library working hours will be shorter by half an hour.