Kaunas Science and Technology Park: Navigating Your Business Globally
Kaunas—Lithuania’s Industrial Heartland
Kaunas, the city that has the second largest share of Lithuania’s GDP, can rightly be called the industrial capital of Lithuania. It is not only a friendly, open, and creative space for partnerships and cooperation, but it is also home to Kaunas University of Technology (KTU)—the largest provider of qualified engineers in the country.
Ranking 16th for its ease of doing business, the average duration of establishing a business is three days.
Additionally, manufacturing or logistics companies investing more than 1 million euros, or service companies investing more than 100 thousand euros and having more than 20 employees benefit from the tax incentives of Kaunas Free Economic Zone (FEZ).
However, the real strength of the city is its talents. Every fourth student in Kaunas studies engineering-related subjects, with this number increasing every year.
Why Kaunas STP?
Kaunas Science and Technology Park started their journey in 1998 as the first Lithuanian business incubator. It operates in four locations and is a part of the Santaka Integrated Science, Study and Business Centre (Valley), and receives international recognition. Today, Kaunas STP promotes cooperation between science and business with the objective of providing businesses with opportunities to utilise the expertise of Santaka Integrated Science, Study and Business Centre Valley, thus prompting business investments.
As a result of becoming a part of the Santaka Valley in 2014, and Kaunas Innovation Ecosystem, STP saw an increase in the cooperation between science and business, thus allowing for more products and services to be offered. Now, upwards of 16 per cent of employees in Kaunas STP are researchers, which points at the existence of favourable conditions as access to modern university laboratories, training and seminars, product development financing, and assistance in growth management and attraction of EU funds, to name a few.
Support an array of different vertical companies
Kaunas STP focuses on fostering innovative tech businesses and building the innovation culture in Kaunas. Currently, there are more than 100 companies operating in the target fields of IT, engineering, health technologies, social innovation, future energy, and sustainable chemistry in the Park.
Here, companies create additional value by actively collaborating with scientists and researchers, and leading initiatives that encourage social corporate responsibility (CSR). Kaunas STP assists such startups by providing consultations on business development as well as innovation support services.
Evolut 4.0 – new program to support your business
Kaunas STP has strong partnerships with Kaunas University of Technology, Vytautas Magnus University and other Lithuanian universities in technology transfers, innovation development, product commercialization, and R&D processes.
In 2018, Kaunas STP Entrepreneurship and New Product Development Program Evolut 4.0 was recognized as the solution of the year for business by the International Association of Science Parks and Areas of Innovation (IASP) and has won 1st place. It offers all necessary tools for startup to boost their business—business development consulting based on internationally validated methodologies:
Today, the Park focuses on broadening its network, developing co-working hubs in two locations in Kaunas, and organizing B2B meetings and business missions in Scandinavia, Germany, CEE countries. Other than this, Kaunas STP innovation experts and consultants provide trainings and seminars on topics, such as sales, marketing, and business. As an annual event, Kaunas STP also holds the Most Innovative Products Awards.
Track record of building global companies
Well, they are just a few of the big names located at Kaunas STP headquarters at Santaka valley. This shows how diverse the innovation culture is at the Park. While Rubedos is known for its R&D in the area of adaptive robotics, supplying mission-critical control solutions for healthcare worldwide, Singletonas shines in data analysis, visualisation, and management for e-commerce and home automation; it specifically works on developing IoT solutions, software for communicating post boxes, and smart radiators. Biotech startup has designed world-wide recognized device which helps to reduce hand shake for Essential tremor and morning stiffness for Rheumatoid arthritis.
Moreover, inasmuch as the rapidly growing Softneta commercialises the research undertaken at KTU by Professor Kazimieras Baršauskas of the Ultrasound Research Institute, so too does Boston Neurosciences work towards garnering innovative technologies in the medical field. As it can be observed in its name, Boston Neurosciences—other than having an office in Kaunas—also has an office in Boston, USA. Together with Professor Arminas Ragauskas from Kaunas University of Technology, the startup created a non-invasive intracranial pressure meter, which has already been tested by NASA astronauts, volunteers, and patients, and gotten the green light by leading neuro-centres in Europe and the United States.
Other big names that started their businesses at Kaunas STP include the international software developer NFQ Technologies, IT company Telesoftas, game developers TutoTOONS, IT solutions provider iTO, software developer Adeo Web, and Amidus which managed to attract the leading global cloud-computing company Virtustream from the US.
Applying is easy as ABC
Kaunas STP is oriented to incubate tech companies, developing IT, engineering, health technologies, social innovation, future energy, and sustainable chemistry products or services. They are looking for startups that have established legal entities or have a co-worker status as a freelancer (for co-working spaces and project hub spaces).
The length of the incubation services provided by Kaunas STP is three years. Each startup is considered on a case-by-case basis whereby they might get a chance to stay at Kaunas STP innovation community for a longer period of time to get various support services, and become mentors and support new startups.
Kaunas STP photo gallery: