Lithuania is moving towards an innovation economy by upgrading its traditional industries to compete in knowledge-intensive sectors. Lithuania aims to further develop the medical devices industry which can already boast on remarkable success stories. Its strategic location between East and West, highly skilled and talented labor, integrated science and business valleys makes Lithuania a great place to foster innovation and R&D capacities. Lithuania combines a high quality of education, integrated science and business valleys, and links to supportive industries (engineering, ICT, physical sciences).
Favorable regulatory environment
- Intellectual Property rights are well protected by a number of conventions initiated by World Intellectual Property Organization (WIPO) and World Trade Organization (WTO).
- Medical device licensing is based on the EU Directives, making the process straightforward and similar to practices in other EU countries.
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