“In recent years, Lithuania’s exports of laser products have been growing steadily and gaining global recognition, so the opening of the Lithuanian stand at the laser exhibition will ensure the development of existing potential and the establishment of new contacts. During the visit, we will also open InnoHub Lithuania, which will create even more opportunities for Lithuanian companies to secure cooperation with one of the most innovative states in the US, California and Silicon Valley, and for the academic community to find reliable partners from the Lithuanian innovation ecosystem,” says Minister of the Economy and Innovation Armonaitė.
Photonics West 2024, a laser exhibition to be held in San Francisco, is one of the most important laser technology events in the US. It brings together laser companies with a wide range of experience to showcase the latest solutions and establish new collaborations.
During the visit, the Ministry of the Economy and Innovation and the Innovation Agency will launch InnoHub Lithuania in Silicon Valley, which aims to accelerate the growth of Lithuanian companies in the high-tech sector, especially in laser technology, ICT and life sciences. InnoHub Lithuania will provide comprehensive assistance to Lithuanian companies wishing to export their products or services to the US. It will also be a place for US companies to network and discuss partnerships with Lithuanian high-tech leaders.
Minister Armonaitė will meet with Saeed Amidi, head of the Plug and Play Accelerator. Plug and Play was established in Lithuania at the end of last year and is expected to help 60 start-ups grow in Lithuania over three years.
Armonaitė is also expected to meet with representatives of SpaceX, Keeta, Dexcom, Mind the Bridge, Unity and Anduril.
In Q1-Q3 2023, the turnover between the USA and Lithuania reached EUR 3.71 billion. Exports during the period amounted to EUR 1.5 billion, while exports of Lithuanian origin amounted to EUR 1.37 billion. The US is a priority market for Lithuanian exports and innovation, as well as for attracting foreign direct investment.
California’s economy has been growing steadily in recent years and has become one of the strongest in the US. Silicon Valley, home to innovative companies and much of the world’s innovation, has attracted much attention for its strong technology sector.
