Vilnius Tech Park
About this good practice
Only within few years of operation Vilnius Tech Park has become the region’s most complex and integrated ICT hub to attract and unite innovative talents from game development, big data, cyber security, smart solutions, fintech and digital design sectors. Currently residing companies include Citybirds, Dev2Dev, KulaTech, Deallink.biz, Kilo.lt, Planner5D and others.
Vilnius TechPark provides the following services: rent of co-working premises, rent of private offices, organization of educational events, virtual membership, community-gathering / networking events, hackathons – events for the generation of new ideas, implementation of projects related to innovation and technology development: ongoing activities of EIT Climate-KIC and EIT InnoEnergy HUB.
Vilnius TechPark is coordinated by public institution “Vilniaus technologijų ir meno centras“. Organization has five shareholders: JSC Akseleratorius, JSC IMI.VC Advisors, JSC Innovative development, Vilnius City Municipality and Šiuolaikinio meno asociacija.
10 per cent of premises are dedicated to companies that provide services for growing businesses (accelerators, VC Funds, etc). Vilnius Tech Park also cooperates closely with business development infrastructure support services: legal-advisory, HR assistance, Real Estate advisory and EU support and business consulting services.
Only in 2019 Vilnius TechPark expended its networks and partnership with All Media Lithuania, Silicon Valley, Artificial Intelligence Tribe,etc.
Resources needed
Team consists of 14 employees: 1 manager, 3 technical resources, accountant, administrator and coordinators. Fully equipped co-working premises (9000 sq. m.) contain furnished office space, 24/7 access to office, premium security solutions, etc.
Initial investment - 4 724 628 EUR (excluding VAT).
Evidence of success
Vilnius TechPark became one of the largest ICT hubs in Europe. Results achieved in 2019:
· 759 workplaces functioning in Vilnius Tech Park by 2019/12/31 (KPI – 725).
· 12 workplaces free of charge throughout 2019 (KPI – 12) – for winners of Hackathons.
· 99% of sub-lessees meet activity criteria (KPI – 90%).
· 23% of workplaces used by startups, which had no office in Vilnius before (KPI-20%).
All together, these companies represent more than 171 new high value-added jobs in Vilnius.
Potential for learning or transfer
· Development of centralized eco-system helps to ensure that all required services are provided within the boundaries of the makerspace: this helps to retain know-how and provide instant support for startups whenever needed.
· Having some workplaces free of charge for extremely innovative startups or creative ideas can benefit overall community: new partnerships, successful incubation and joint projects can have snowball effect and add value to the makerspace.
· Investments into network expansion and partnership is one of the key success factors of Vilnius TechPark: they do not only help to attract industry leaders to share their knowledge, but also creates possibilities to promote makerspace (and residing startups) not only locally, but also in different countries worldwide.
· Creative eco-system is dynamic and rapidly changing, therefore, it is crucial to remain flexible, respond to the specific needs of community members and constantly encourage innovation.
Further information
Website
Good practice owner
You can contact the good practice owner below for more detailed information.
Vilnius TechPark