Lithuanian export forecasts: from simplistic joy to shock models
Although the Lithuanian export growth rate slowed down in 2019, the country’s exporters still had something to enjoy. All of us have a different mood this spring – the coronavirus COVID-19 pandemic is disrupting business plans and destroying even the most cautious forecasts.
“Enterprise Lithuania” focuses on boosting the businesses suffering from the effects of coronavirus
Entrepreneurship and export development agency “Enterprise Lithuania” is launching an initiative to support businesses “No quarantine on the Internet” and will advise anyone who wants to transfer their activities/businesses to the virtual space quickly and easily. Entrepreneurs who are already using virtual space for their businesses are encouraged to register their online stores and we will seek to share information about them with as many people in the country as it is possible. “Enterprise Lithuania” has also decided to integrate into this program the unified e-commerce solution which was developed during this weekend’s hackathon “Hack the Crisis”.
“Enterprise Lithuania“ – communicating with business remotely
After Lithuania has been put under quarantine from 16 March, which will last until 30 March or until otherwise decided, the Public Institution “Enterprise Lithuania” and all it units (“Startup Lithuania” and “Spiečius” Co-Working Spaces) as well as the participants of the export leaders programme “Sparnai” (Wings) will work remotely and will ensure the smooth contactless provision of services.
Can the coronavirus be considered as a force majeure?
The coronavirus that has been lately spreading worldwide presents a number of challenges for business. To reduce the spread of the virus, Chinese and Italian companies have temporarily suspended their operations. This resulted in the termination of a large part of contracts. These countries are very important business partners of Lithuania. Therefore, a question that many entrepreneurs are asking is: “Does the coronavirus can be considered as a force majeure?”
Life Sciences Baltics 2020: Microbiome and Health Session Speakers Have Been Revealed
2020 marks a milestone for Life Sciences Baltics – international forum which is gathering world-class biotechnology, pharmaceutical and medical devices experts from all around the world – will be held in Vilnius for the 5th time. One of the themes in the forum will be Microbiome and Health and Life Sciences Baltics kicked the New Year by proudly announcing speakers who will be attending this session.
Global Defense Contractor NBC Security to begin operations in Lithuania
NBC Security, Inc., a global defense applications firm, has announced its decision to commence operations in Lithuania under the name UAB “Baltic Defense Industries”. The company has established a new office in Kaunas and plans to open a facility for the manufacturing of products for the global defense and law enforcement agencies.
LSB2018 Brought to Life a New Partnership Which Is Improving Cancer Research
During the Life Sciences Baltics 2018 Carl Zeiss Microscopy established strong relationships with scientists from Vilnius Life Science University Centre and Lithuanian National Pathology Centre. Currently there are two ongoing projects with Proteomics Centre – one of them has already helped improving applications in cancer research.
The Spurt of Lithuanian Start-ups Continues: €166.5 Million of Investment was Attracted Within the Year
2019 is a memorable year in the Lithuanian start-up ecosystem: the number of innovative companies is nearing 1,000, startups have attracted more than €166,5 million. Vinted, the country’s first start-up to become a unicorn, which has attracted a record amount of investment so far – €128 million, has also proven that innovative products crated by Lithuanian start-ups have great potential.
7 Innovative Products for Klaipėda Were Offered During the Open Data Hackathon
During the creative business workshops “Hacker Games. Open Data” that took place this weekend in the port city and lasted for as long as 48 hours, 7 innovative products were created using the opened up public sector data. The hackathon was won by a team that offered an interactive map of Klaipėda, which is designed to help young businesses to assess a commercial benefit of a specific place of the city.
Lithuanian exporters conquer the Chinese market by participating at the exhibition China International Import Expo 2019
Lithuanian companies are paving the way for export to China by participating for the second year in a row in China International Import Expo 2019. On the 5th through 10th of November, 16 Lithuanian companies, participating in two national stands, are striving to distinguish themselves by the quality of Lithuanian goods which is highly appreciated by Chinese consumers, and to reap the maximum benefits from the country that began to actively expand its trade relations with the rest of the world.
Lithuanian Defence Technology Development Camp, DELTA NAVY Hackathon Results
The three-day defense and technologies development camp, hackathon, DELTA NAVY surpassed all expectations. Having wrapped October 27 at the Lithuanian Navy in Klaipėda, it resulted in creation of such product prototypes as a laser communication system for ships at sea, drone, and personnel, and human resources management systems, over the 48 hours of the event aboard LNS Jotvingis headquarters and supply ship.
Lithuania has reached its highest position ever in Doing Business 2020: a single further step is needed to be among the top ten
Lithuania has achieved the 11th position in the World Bank’s Doing Business report measuring business conditions. This is the highest position ever achieved by Lithuania since the launch of this report.