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The Israel Lithuania Technology Hub (ILTH) is a platform, a forum which was formed by and is part of the Israel Lithuania Chamber of Commerce and Industry, the ILCCI. The Chamber is a nonprofit organization (an "Amuta"). The prime target of the Hub is to promote economic growth and technological innovation in Israel and in Lithuania, by creating strong partnerships between the two economies.
Israel is a phenomenal source of innovation with more start-ups per capita than anywhere else in the world. Given Israel's small size, most Israeli companies need foreign cooperation, whether for capital, business and/or product development, as well as access to global markets.
Lithuania is an ideal partner for Israel with a long history, similar cultural backgrounds, relative proximity, improved access and transport routes and market access to Europe, Lithuania is targeted as a prime technology partner for Israel. It is a preferred market in which investments can be made, start-ups promoted and is an ideal launch pad into the EU as a whole. Lithuania has an excellent wealth of talent and skilled labor which is cost effective, an interesting geopolitical position bridging Eastern and Western Europe, an understanding of cultures and access to Russia, the CIS markets and of course EU membership, as well as complementary strengths in technology emerging out of excellent academic institutions.
Both countries will therefore be taking full advantage of the assets each can deliver: Israeli excellence in innovation, R&D and advanced technologies combined with Lithuanian talent, innovation, skilled labor, local and EU economic incentives and access to markets.
The goal of creating an Israel/Lithuania partnership in technology is supported by both governments, via their investment and international cooperation organizations. The Hub's creation followed statements made by both governments in relation to their desire to grow cooperation and mutual investments in the fields of high-tech and innovation and the signing and creating of a joint R&D fund by MATIMOP and MITA. The ILTH and MITA have signed an MoU, providing for such cooperation.
The Hub focuses its activities within the Life Science and ICT sectors which were identified as having unique synergies between
Israel and Lithuania
Lithuania’s life sciences industry has sky-rocketed over the last two decades and is now regarded as one of the most advanced in Central and Eastern Europe (CEE). Lithuania is perfectly located at the heart of Europe, with world class ICT infrastructure and a dedicated, highly qualified talent pool. Globally recognized brands such as TEVA, Thermo Fisher and Valeant pharmaceuticals now call Lithuania home.
Israel's thriving life sciences industry is world-renowned for its groundbreaking innovations, ingenuity and creativity. It is home to about 1,000 life science companies, with an average 40 new companies being formed each year. Multinational companies including J&J, Perrigo, GE Healthcare and Phillips Medical, together with local companies such as Teva, Given Imaging, Insightec, Medinol, and others have been at the forefront in the development and marketing of life-changing medical devices, treatments and medications.
Information and Communication Technologies
Lithuania has the largest ICT industry in the Baltic States with world-leading broadband speeds and the most advanced ICT infrastructure in the CEE. Lithuania has secure its leading position as a regional centre of excellence for smaller software and gaming start-ups, and larger ICT operations. IT services have been among the fastest growing industries in Lithuania during the past few years. This substantial growth in the Lithuanian IT services exports resulted from growing foreign investments in Lithuanian IT sector. With tech-savvy talent pool, business friendly environment and record in technological excellence, Lithuania offers the perfect "cost competitive" go to market for all companies in search of quality ICT competencies and services.
Israeli companies have traditionally been at the forefront of the global ICT. Over 66 years of innovation in civilian and military applications have resulted in the emergence of several world-renowned Internet, IT and communications powerhouses in Israel, along with hundreds of smaller tech companies and over 1,000 active Israeli communications start-ups. Companies such asVocalTec, Comverse, NDS and Alvarion have changed the face of global communications: voice over IP, voicemail, conditional access, instant messaging and Mobile WiMAX are all attributed to Israeli research and development.