Lithuania 25th among Most Innovative Countries
Lithuania is No. 25 on the list of 40 European, Asian and North American most innovative countries in the latest Information Technology and Innovation Foundation’s (ITIF) study “The Atlantic Century. Benchmarking EU & U.S. Innovation and Competitiveness.” published last month.
The main criterion the study and the results are based on is the competitiveness of country’s production on the global market and the level of innovativeness on the local market.
A recent poll commissioned by the Ministry of Economy of Lithuania showed that Lithuanian business enterprises’ annual budgets include funds for investing in innovative products. Almost 70% of industrial enterprises and more than 60% of the leading retail businesses inquired anticipate spending part of their budget for innovation. Promotion of innovation and scientific research in Lithuanian enterprises is funded by the EU Structural Funds as well as by the state itself. Knowledge economy has been the priority goal in the Lithuanian Government‘s policy.
The TOP 5 in the ITIF’s study consists of Singapore, Sweden, Luxembourg, Denmark and South Korea. Lithuania’s closest neighbours Latvia is No. 31, Estonia – No. 22, and Poland – No. 34.
For more information on innovation in Lithuania please visit Lithuanian Innovation Centre’s website www.lic.lt
