Lithuania is the tenth country in the world chosen by European Organization for Nuclear Research (CERN) to set up its incubators, becoming the first in Central and Eastern Europe to host the business development centre, according to a press release.
"Today, we give the start for the launch of the incubators and I hope that the first start-ups will start operating there this year," says Minister of the Economy and Innovation Virginijus Sinkevičius, who signed the agreement on Thursday between the Lithuanian government and CERN.
This centre will consist of two CERN incubators in Vilnius and Kaunas.
"Lithuania is the first among the associated countries to enter the CERN technology transfer and research commercialisation network. This is a huge achievement for Lithuania, which is oriented towards businesses that create technology for the entire startup community," said the minister.
Incubated businesses that will be established in Vilnius Saulėtekis Valley and Kaunas science and technology park, where they will be able to receive technical and advisory support, and will also be able to use the CERN trademark to facilitate the acquisition of technology licences.
Every startup operating in CERN incubators in Vilnius and Kaunas will receive a funding of 40,000 euros. The money will be made available from the European Union Structural Support Funds managed by the Ministry of the Economy and Innovation.
The coordination of activities of the CERN incubators will be managed by the Lithuanian Innovation Centre.
CERN is the world’s largest scientific institution, acting as an interface between science and business, connecting fundamental researchers and technology developers.
In 2018, Lithuania became an associate member of CERN, which opened the way to participate in multi-million public procurements of CERN.
Lithuania has been cooperating with CERN since 1993 and has implemented joint projects with Vilnius University, Vilnius Gediminas Technical University, Kaunas Technology University, Lithuanian University of Health Sciences, and laser manufacturers Ekspla and Standa.