As you may be aware both Latvia and Lithuania have strong Universities and Research Institutes and are investing significant EU structural fund money in the development of their biotech industries, and are keen to attract UK biotech companies who wish to partner with local businesses or undertake R&D work.
- There is substantial grant funding available to support R&D (up to 6 million euro per company for infrastructure and 1.5 million euro per company for R&D and product development). There are also a range of very generous tax incentives including super-accelerated depreciation, making the Baltic States one of the most attractive places to conduct R&D in
- The Baltic States are fast becoming the commercial and scientific cross roads between
- The Lithuanian government are currently investing over 1 Billion euro in the development of five science “valleys”, these will become world class commercialization hubs covering a range of areas including all areas of biotechnology. The “valleys” will be linked to the local universities and research institutes, but there main focus will be to support the development of private businesses. They are keen to attract
- Both the Latvian and Lithuanian governments have allocated large equipment budgets to their Universities and these Universities are keen to talk to UK companies who would be keen to work with them on a contract research basis, where the university would be able to purchase the equipment necessary to conduct this research.