Do Business and Invest in the Life Sciences in Vilnius
Building on a tradition for innovation that includes Prof. Virginijus Šikšnys’ ground-breaking work in the field of CRISPR technology, Vilnius is fast becoming a hub for the life sciences. With extensive R&D experience, financial incentives, and several technology parks and valleys built to sustain and grow businesses, Vilnius is an ideal home for the life sciences.
22% sector growth annually, making it one of the fastest in the EU
Source: Invest Lithuania, 2020
1 out of 4 students are enrolled in innovation-related* studies
*Science, Mathematics, Computing and Engineering-related fields. Source: Ministry of Education and Science, 2017
2% of GDP created by the life sciences sector
Source: MITA, 2020
90% of annual sales were generated in foreign markets
Source: Enterprise Lithuania, 2019
USA, Germany China, UK, Poland are primary markets where products are exported
Source: Enterprise Lithuania, 2019
Notable Life Sciences Achievements in Vilnius
Vilnius University’s VirginijusŠikšnys is one of the founding developers of the CRISPR/Cas9 gene-editing technology and was awarded the Warren Alpert Foundation Prize in 2016 for his work in this area.
A team from Vilnius University won the 2020 International Genetically Engineered Machine (iGEM), the largest and most prestigious international Synthetic Biology competition. It was the second time a team from Vilnius University won the competition, which features more than 300 teams from leading universities around the world.
The startup Droplet Genomics, which is commercialising droplet microfluidics technology, recently attracted €1 million worth of investments.
The local startupLigence is currently developing innovative software to reduce the workloads of medical teams. It has already won a 2020 EIT Health InnoStars Award.
The Life Sciences Ecosystem
The research environment in Vilnius is well-developed and features open-access R&D centres and the Sunrise Valley Science and Technology Park, which unites two prominent universities (Vilnius University and Vilnius Gediminas Technical University), 20,000 students, 5,000 researchers and numerous businesses to form a local ecosystem driving innovation and entrepreneurship.
The Lithuanian Biotechnology Association unites 23 companies and scientific institutions, as well as 62 people, to promote biotechnology and its wide applications.
For more than 45 years, Vilnius University’s Institute of Biotechnology has been maintaining the highest scientific standards and making technological advancements in the broadly defined field of molecular biotechnology.
Vilnius University’s Life Sciences Centre is an important boost for the field in the city. It has supported an increasing number of R&D projects being carried out in collaboration with industry players, and various technologies developed and patented by research teams working out of the centre have gone on to be licensed by private companies.
The Life Sciences Digital Innovation Hub Cluster serves as a platform for business-research partnerships and is dedicated to fostering digital innovations in the life sciences by bringing research, business and public sector institutions and organisations together.
The Vilnius University Biotechnology Business Incubator provides access to modern infrastructure, R&D services, and the highest quality professional consultations for small and medium enterprises working in life sciences.
Life Sciences Baltics is the main international forum in the region for world-class biotechnology, pharmaceutical, and medical devices experts.
The bespoke Santara Valley BioTech science valley is dedicated to companies focused on BioTech, innovative medical technologies, molecular and bio pharmacy, and sustainable development.
The European Laboratory of Molecular Biology (EMBL) is opening a partner institute at the LSC. This partnership will provide new opportunities for Lithuania to contribute research and innovations in the life sciences at a global scale.
VGTU centriniai rūmai | Photo by S. Žiūra
Life Sciences – a Priority Sector in Vilnius
According to the Scientific American Worldview’s 2018 international biotechnology ranking, Lithuania has the fastest-growing life sciences sector, ranking the highest among Central and Eastern European countries.
According to a country assessment based on the science and business sector cooperation index presented at the World Economic Forum, Lithuania ranks first among Central and Eastern European countries in research and experimental development activities.
There are more than 1,200 ongoing clinical trials in the country. Over 90 International pharma and medical companies are currently conducting clinical trials in Lithuania.
There are more than 400 companies active in the life sciences industry, and more than 50 start-ups focus on life sciences.
In Vilnius, investments in R&D in the life sciences sector benefit from considerable tax incentives, which makes it attractive for companies to establish R&D operations in the country.
Make the Most of Financial Incentives
Companies can deduct R&D-related expenses up to three times in the tax period they are incurred.
Get a reduced 5% corporate income tax rate, which can be applied to profits derived from the commercial exploitation of patented inventions.
Take advantage of the benefits of Free Economic Zones.
Companies based inVilnius
Email us at[email protected]for more details on doing business or investing in the life sciences in Vilnius.
Costs and Taxation
The official development agency of the City of Vilnius