Lithuania promises to allocate 600 million to promote innovation
The Ministry of Economy and Innovation of the Republic of Lithuania is distributing about 600 million euros (602.5 million
in the agency Blog article August 17 Minister of Economy and Innovation Usrinyi Armonite said that state investments have paid off before.
“The state’s investments have paid off: so far, the stimulating sectors have increased their added value by 80 percent, the number of employees by a tenth, and the volume of exports by 72 percent,” said Armonaito. “We will continue to work purposefully and purposefully for the development of the Lithuanian economy.
– We will focus on three main priorities: health technologies and biotechnology, new production processes, materials and technologies, and information and communication technologies.
Armonaitė said that the efforts are aimed at solving what companies need, promoting scientific research and innovation, the digital industry and creating new companies. The blog says that calls are being made to work with companies’ R&D activities, and companies to join international R&D efforts, and there will be research scientist companies to join international partner innovation to drive more.
PYMNTS writes that Lithuanian startups are doing well despite the international conflict, which has become involved in the war between Russia and Ukraine. Startups in the country have raised “millions” as Russia threatens to punish the country for banning rail transport to the Kaliningrad enclave.
Read more: The Lithuanian startup scene shows resilience in the face of looming threats from Russia
One startup doing well is EdTech startup BitDegree, which raised $1 million. Additionally, kevin, which is building an account-to-account (A2A) payment infrastructure to reduce card transactions, has raised $65 million.
The success of FinTechs can be seen as the result of the liberal license system of the Bank of Lithuania, which simplified the licensing process, allowing a FinTech company to obtain a license within three months.
get get full coverage of PYMNTS EMEA, subscribe to the magazine EMEA Bulletin.
A new study by PYMNTS revealed that 3 out of 4 users must be in demand for super programs
Around: The new PYMNTS study, App Super Transformation: How consumers want to save, shop and spend in the connected economy, in partnership with PayPal, analyzed 9,904 users in Australia, Germany, the United Kingdom and the United States. in the states. And it shows demand for individual multitasking apps instead of dozens of people using them.
https://www.pymts.com/consumer-finance/2022/roughly-half-of-all-high-income-consumers-purchase-groceries-online/partial/