Points of Single Contact: assistance to those wishing to develop business in Lithuania
There are 4 Contact Points operating in Lithuania: of services, products, construction products and regulated professions. They are intended: to help companies or individuals from another country to establish a business in Lithuania; to simplify the procedures of obtaining permits and licenses for service providers; to provide full information on the requirements that apply to the activities pursued by them; to ensure access by entrepreneurs to specific national rules intended for those wishing to supply products not regulated by the EU to the Lithuanian market.
Investors Have Prepared EUR 70,000 For The Best Startup Of The Competition “Startup Fair Pitch Battle”
On 25 September, the most promising Lithuanian and foreign startups will compete in the international competition “Startup Fair Pitch Battle” that will be held during the LOGIN Innovation and Technology Conference. Lithuanian Business Angel Network (LitBAN), the Co-investment Fund and the Venture Capital Fund 70 Ventures will look for investment opportunities at the Event. TRINITI business law firm has also set up cash prizes for legal services, and “Cloudvisor” will donate free credits of cloud computing services.
Lithuanian Laser Industry Leaders Participate in CIOE
The laser industry, or optoelectronics, in Lithuania is a curious and inspiring case of success. While we rarely get up close with lasers in our everyday life (or don’t realize we do), they are still an essential part of medicine and technological innovation.
Meet Lithuanian Fintech Companies Participating in CIFTIS!
Finances are not as simple as they used to be a few hundred years ago when you could stick your money under the mattress and call it a day. Now it is increasingly common to never see your coins and keep it all digital. Such a world requires increasingly more security, guarantees, and innovative solutions. That is where the fintech sector comes in!
The Half-year Spurt of Lithuanian Start-ups: the Turnover grew by 30%
The global pandemic has opened up new opportunities for technology companies which develop innovative products. In the first half of this year, sales revenue of Lithuanian start-ups, which managed to adapt quickly to the existing situation, was a third higher compared to the corresponding period a year ago. The number of the employees and their salaries also increased.
Lasers and Fintech: Booming Sectors of Lithuania
Lithuania is not only the land of fast public wifi and a grand variety of potato dishes. It is also home to two fast-growing industries that increasingly become essential in medicine, science, finance, and other sectors – fintech and optoelectronics.
5 Adaptable Innovative Solutions Lithuania Used to Overcome First Wave of COVID-19
Joint creative efforts of government, business and civic society led Lithuania through the first wave of COVID-19 almost unscathed. Lithuania has one of the lowest virus rates in the world. Presented here are 5 innovative solutions that cut across a wide spectrum of social problems and used digital and AI technology to fast-track the response to crisis. Some projects were developed in as little as 48 hours.
Lithuania Is the Postal Hub of Europe. What Does That Mean?
Are you sending something to Europe? There is a high chance your parcels will become a historical part of a partnership between Lithuania and China! Lithuania has recently become the hotspot of attention after it became the postal hub of Europe. The collaboration between China, Lithuanian Post, and Lithuanian Railways is now bringing Europeans their goods by railway. Trains from China filled with freight addressed to numerous cities in Europe head to Vilnius, where Lithuanian Post distributes the parcels, sending them to their final destinations.
Caution regarding “Enterprise Lithuania” name infringement
We would like to warn foreign and Lithuanian companies about the illegal use of the name of the Public Institution “Enterprise Lithuania” for possible criminal and commercial purposes that are not related to the activities of the institution.
Initiatives to help businesses in the face of the pandemic
Up to date, Lithuania has less than 1900 total cases and less than 100 deaths related to COVID-19. This shows that the response from the government agencies, business and the population has been effective.
The quarantine has changed consumer habits: nearly a fifth will buy more online
The quarantine, that lasted for three months in Lithuania, not only has stimulated the business to reorient and to pay close attention to e-commerce, but has also changed consumer habits. A poll of Lithuanian population revealed that during the quarantine every fifth person bought more than usual online, and nearly a fifth of the respondents intends to continue buying more online. During this period, the scale of e-commerce in the Baltic States in general has increased by 80%, and consignment flows in Lithuania grew by 54%.
IMD World Competitiveness Ranking: Lithuania's economic development is gaining stability
Lithuania lost two positions in the IMD World Competitiveness Index, calculated by the Swiss Institute of International Management and dropped from 29th to 31th place. According to the four groups of criteria for the assessment of countries, Lithuania has significantly improved its position in the field of economic development but has declined in the areas of business efficiency, public sector efficiency and infrastructure assessment.