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The greater emphasis for innovation in Lithuania

Government has approved the promotion of business innovation in 2009-2013 program which has an aim to increase the country's innovative potential and promote innovation and business operations more efficient information technology.

Under this program, it is intended to establish the Lithuanian Innovation and Technology Agency, to provide financial support for business infrastructure development, technological innovation, the introduction of advanced management techniques, inventions patented.

In many Western European countries, innovation has become a major engine of economic growth, allowing businesses to reach a high level of productivity and profitability. According to the statistics, a quarter of Lithuanian companies are doing innovative activities at the moment.

Kastytis Gecas, the director of the Lithuanian Innovation Centre, believes that innovations in business are used by about one fifth of the country's business companies, which account for 50-60 percent of the value added. "It is clear that innovative companies "carry" the Lithuanian economy too. We often talk about technological innovations, but non – technological innovations are very useful for businesses either – these are marketing, management, resource and project management innovations. If a new product is released every 3-6 months the company must work very quickly. Such changes in the company become the only constant thing. This should be acceptable to people, managers and owners. Lithuanian market is very small and there is always affected by the global market. Without any changes, without innovations, it would be difficult to survive. Talking about Lithuania, all the companies which are in the list of a thousand are more or less innovative” describes the situation K. Gecas.

 


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