Following annual growth of 87%, Lithuania’s Biotech sector is focusing on building international connections
In 2020, Biotech accounted for 2.5 per cent of Lithuania’s GDP, equating to year-on-year growth of 87 per cent. This thriving sector provides opportunities for further international cooperation in the field of Life Sciences.
A 900% increase in Biotech revenue between 2010 and 2020 places Lithuania among Europe‘s fastest-growing Life Sciences destinations. With the aim of achieving 5 per cent of GDP share by 2030, the country‘s Biotech community is focused on attracting investments and securing stable government support.
In a country of 2.8 million citizens, six universities offer study programmes in Biotech-related fields, while 2,500 people work in the private Biotech sector alone. Lithuania has already achieved Biotech success in the US, Germany, and the UK markets, where Lithuanian companies are developing gene-editing, drug discovery and clinical trial solutions.
Among the institutions driving the sector forward are the Lithuanian Biotechnology Association (LBTA) and the governmental agency Enterprise Lithuania, responsible for connecting Lithuanian companies with stakeholders abroad.
In 2012, Enterprise Lithuania organised the first edition of Life Sciences Baltics forum in Vilnius. The event helped attract the most influential people from the sector. Now, Life Sciences Baltics is an exclusive event that enables world-class experts to meet the emerging leaders from the fast-growing Baltic Life Sciences hub together in one place. This year, the forum will take place on 20-24 September, and features an international conference with keynotes, panel discussions and company presentations, a startup pitch battle, virtual exhibition and B2B meetings.
The conference programme will highlight the areas in which Baltic Life Sciences excel – digital health, gene editing, MedTech, early drug discovery, imaging, personalised medicine and the microbiome. Keynotes include one of the leading minds behind CRISPR-Cas9 gene editing technology, the internationally renowned Lithuanian researcher Prof. Dr Virginijus Šikšnys, alongside the 2017 Nobel laureate in Chemistry, Dr Richard Henderson, and the president of AskBio, Katherine High.
At a time of global political uncertainty, the defence industry is among the fastest-growing sectors in Europe and around the world. As the sophistication of military and defence technologies has increased, defence spending has moved up government policy agendas, leading to increased investment in R&D. With world-leading expertise in technologies from lasers to navigation systems, Lithuania’s defence contractors are attracting interest from around the globe – and are now among the most sought-after partners to some of the biggest names in Germany’s defence industry.
Opening its doors to in-person visitors on 1 October 2021 for six months in Dubai, Expo 2020 is hoped to become the largest and most awaited international event this year and next. The concept of Lithuania’s pavilion builds on country’s positioning concept Open for Co-creation outlined in the Strategy for presenting Lithuania abroad, showcasing Lithuania as a modern and co-creative country with plentiful economic potential and creative capacities for global solutions that are set to change lives in and beyond Lithuania.