Startups focus on diversified sources of investment and future DNA not only in medicine but also in agriculture

Startups, having survived a more restrained investment period, are showing optimistic trends in technology development - innovators in Kaunas are signaling a growing interest in medical and defense technologies. A recent survey shows that more than 100 members of Tech-Park Kaunas, a deep-tech and inclusive society innovation community, are looking for business development opportunities not only to attract investment from venture capital funds, but also to grow exports and win funding from European structures.

"While we have seen a general decline in exports across the country, Tech-Park Kaunas has confirmed that it is an exception, with exports amounting to almost EUR 36.33 million last year and revenues of EUR 30 million in 2022. The financial results of the Park's companies are also encouraging: not only did the companies' revenues grow, but also the tax contribution to the state budget. In 2023, the companies paid €13.7 million in various taxes to the state budget, almost twice as much as in 2022 (€7.9 million). Businesses not only maintain stability but also contribute to the well-being of the economy as a whole," says Paulius Nezabitauskas, director of Tech-Park Kaunas.