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  • 2016 10 03

    Biotech business incubator opens in Sunrise Valley

    New biotech business incubator has been opened as a part of Sunrise Valley, science and technology park on September 30. This incubator will operate next to the Joint Life Sciences Center and National Center for Physical Sciences and Technology both based at Sunrise Valley.

    The main aim of the biotech business incubator is to build bridges between academia and business, and to encourage science commercialization and technology transfer.

    22 labs with state of the art infrastructure and other areas with modern equipment are tailored for life sciences startups. Therefore they are more than welcome to move in into this new biotech business incubator.

    Technology transfer and commercialization is among the hottest topics trending in life science on the global arena.

    Lithuania’s life science industry has been rapidly increasing and attracting worldwide recognition. Lithuania declares an ambitious goal to become the center and European hub of life sciences by 2020. Statistics prove that Lithuania is already on the right track. Lithuania’s life science sector is the fastest growing in EU with annual growth of ~25 % and accounts for 1% of the GDP and is equivalent to the world leading countries in this sector and 10 times exceeds the average of EU. 80 % of all Lithuanian pharmaceutical and medical production is exported, mainly to Germany, Japan, UK, U.S., France, and Sweden. More than 90 international pharma and medical devices companies have conducted 1200 clinical trials in Lithuania since 2007.