Head of research and analysis at the Innovation Agency, Kotryna Tamoševičienė, stresses that this is a significant achievement for Lithuania, especially having in mind current economic and geopolitical challenges.
She says Lithuania provides favourable conditions for the development of a strong innovation ecosystem that creates high added value and this is proved by Lithuania’s high assessment in terms of value of unicorn companies and the application of technologies.
According to her, for the second year in a row Lithuania ranks first based on the value of its unicorn companies in relation to the size of the country’s economy. The result may have been influenced by Baltic Classifieds Group becoming Lithuania’s third unicorn.
Moreover, what allowed Lithuania to maintain its high position in the Global Innovation Index was entrepreneurship policy and culture (8th place), stability of the business environment (18th), regulation quality (21st) and effectively operating institutions (22nd).
In 2023, Lithuania was 34th out of 132 countries on this list.
The Global Innovation Index is annually compiled and published by the World Intellectual Property Organisation (WIPO).