Lithuania has, in recent years, increasingly raised its profile as innovative life sciences hub. Attracting international giants such as Thermo Fisher Scientific, the country has been making headlines worldwide due to its mix of strong local talent pool, high quality scientific research and public investments in the field. New mini documentary highlights Lithuania’s commitment to creating life sciences solutions of the global scale.
The Lithuanian government has set out an ambitious goal – a 5% GDP contribution by 2030 – for the industry that proved its worth during the pandemic and continues to flourish amid intense international competition. Not only does it have ambition though, but it is steadily progressing towards its realization. Every year the sector grows by 30 per cent – a figure that few other countries in Europe can be proud of.
“Lithuania’s life sciences sector contributes heavily to the growth of economy, generating around 2.7 per cent of GDP. The industry is supported by the government and all stakeholders from academia, business and government are invited to discuss the key areas that Lithuania wants to foster as a country”, – says Karolina Karl, Head of Life Sciences Team at Invest Lithuania.
The close cooperation between actors of the ecosystem is one of the reason for success for the mutual benefit of all members and stakeholders. Creative collaboration takes place in Lithuania’s innovation ecosystem in a variety of ways, including coming up with ideas to solve problems and finding innovative ideas or technologies to do so.
“We are proud to build global solutions right here, in Lithuania, as the industry knows no borders. It is a power of innovation and collaboration to address challenges that impact humanity on a global scale”, says Aušrinė Armonaitė, the minister of economy and innovation.
According to Daumantas Matulis, the head of Life Sciences Center at Vilnius University, Lithuania’s life sciences industry still has a huge potential for further growth. It is mainly because of the strong scientific research base in universities – that are also a source of high-level specialists in the field – developed infrastructure and successful collaboration between business and science.
Currently, more than 100 life sciences companies are operating in Lithuania. Among them is Caszyme – a name that receives increasingly more recognition internationally. Founded in 2017, Caszyme quickly became the rising star of Lithuania’s biotech industry with its focus on developing new technology based on Crispr for gene editing. As the industry propels forward, fueled by cutting-edge research, infrastructure, and successful partnerships, Lithuania remains resolute in its dedication to shaping a brighter future through the life sciences.