On the initiative of the Ministry of Economy and Innovation and the Innovation Agency, InnoHub Lithuania has been officially opened in Silicon Valley (USA), which will help Lithuanian innovative companies and developers of advanced technologies to establish and develop contacts with partners in the USA, as well as help Lithuanian exporters of high-tech products and services to establish a position in the strategically important US market. InnoHub Lithuania joins Nordic Innovation House, which has been successfully operating in the US for almost a decade.
“We have fulfilled another commitment – Lithuania is finally established in Silicon Valley. InnoHub Lithuania will become an important link between Lithuanian and US start-ups and innovators, helping to establish targeted contacts and providing assistance in exporting Lithuanian high value-added products and services to the US,” says Aušrinė Armonaitė, Minister of the Economy and Innovation.
InnoHub Lithuania will provide comprehensive support to Lithuanian high-tech companies, with priority given to companies operating in the fields of information and communication technologies, laser technologies and biotechnology. InnoHub Lithuania will bring together US mentors to advise innovative Lithuanian companies – experts in business development, sales, marketing, business law and finance. They will also organise conferences, exhibitions and business missions to showcase Lithuania’s business potential and innovation ecosystem to US investors. Lithuania’s innovation promotion capacity in California will be strengthened together with the team of the Consulate General of Lithuania and the Commercial Attaché in Los Angeles.
“The world’s leading market, the US, can undoubtedly open up huge opportunities for Lithuanian exports. We have a number of successful examples of cooperation between Lithuanian companies and the US that have led to their rapid growth, so it is very important that this market is accessible to an even greater number of promising high-tech companies. Based on our experience of working with companies, we have identified the main barriers and fears for developing in the US. These include differences in the legal and tax environment and business culture, challenges in finding and establishing targeted business contacts, and intense competition from companies in other countries. InnoHUB Lithuania will offer a comprehensive package of services to help Lithuanian exporters overcome these barriers,” says Romualda Stragienė, head of the Innovation Agency.
InnoHub Lithuania will join the community of the influential Nordic Innovation House in Silicon Valley. This gives Lithuania the opportunity not only to benefit from the Nordic Innovation House’s experience and connections in the US for almost a decade, but also to strengthen cooperation between Lithuania and Scandinavia – to build partnerships with Nordic companies, start-ups, research institutions and agencies promoting entrepreneurship and innovation.