Lithuania declares an ambitious goal - to become European hub of life sciences by 2020
Under the initiative of the Ministry of Economy on May 3rd representatives of Lithuanian business associations, science and state institutions signed a joint resolution on life sciences. According to the document, Lithuania declares and ambitious goal to become the center and European hub of life sciences by 2020. In order to reach the goal efforts of business, science and state will be concentrated and focused on attracting more talent, foreign investment and encouraging innovation, R&D and ease of doing business.
However, statistics prove that Lithuania is already on the right track. Lithuania’s life science sector is the fastest growing in EU with annual growth of ~25 %. The percentage of the contribution by the life sciences to the GDP accounts for around 1% and is equivalent to the world leading countries in this sector and 10 times exceeds the average of EU. 80 % of all Lithuanian pharmaceutical and medical production is exported, mainly to Germany, Japan, UK, U.S., France, and Sweden. More than 90 international pharma and medical devices companies have conducted 1200 clinical trials in Lithuania since 2007.
Resolution states that the number of companies operating in the field of life sciences will reach 5000 in 5 years. However bold steps will be made already by the end of 2016. For example the informal network of biomentors will start at the end of summer 2016. Hence mentors from large life science companies will share their experience with startups on knowledge transfer between science and business or negotiating with potential investors.
Life sciences trend-setters will gather in Lithuania in September 2016. International forum Life Sciences Baltics 2016 will take place in Vilnius for the third time. This event is the only international forum held in the Baltic and Nordic region that attracts representatives of biotechnology, pharmaceuticals and medical equipment from across the globe.
Richard Henderson, the winner of the 2017 Nobel prize in chemistry, will deliver a keynote speech at the international conference of the 5th edition of Life Sciences Baltics which will be held in digital format on 20-24 September this year.
“Startup Fair: Recharge 2021”, an international and one of the most important startup events in Lithuania, which will take place for the 9th year in a row, announces that the major recharge of the startup ecosystem will take place in Vilnius on 3-4 June, when the networking will be relaunched after a long-time gap, and when the flow of investments to the most promising startups will be increased by another financial “recharge” amounting to EUR 100 000. Registration for the “Startup Fair Pitch Battle” competition for innovative businesses in Lithuania and abroad is NOW OPEN.