Tech-Park Kaunas, one of the largest innovation communities in the country with more than 100 members, has engaged 39 of the country's largest companies in a programme of collaboration with startups in 2022. This almost fourfold increase in numbers shows that nationally and internationally commercially active companies are willing to work together with startups to find new solutions and invest in innovations that are just taking their first steps in the markets.
Working with scientists is an advantage
"Founders often emphasize, that it is hard to find talents, but it should not be forgotten that innovation also requires professionals with practical skills in product development and testing. For startups and technology developers, a close relationship with scientists who not only have concentrated knowledge but also the ability to manage the research and testing processes is essential. This need is also reflected in increased investment in research and experimental development," says Paulius Nezabitauskas, the director of Tech-Park Kaunas.
Companies based in the innovation community invested in R&D-related activities, and the total volume of investment represented 7% of total company revenues - 13 times more than the Lithuanian and almost 5 times the EU business sector averages.
"Tech-Park Kaunas companies carried out innovation projects together with research institutions, thus contributing to one of the main objectives of Lithuania's smart specialisation - promoting cooperation between science and business. More than 100 new products, technologies and services have been launched.