Vilnius City Innovation Industrial Park is celebrating its 5th birthday

In April 2018, the municipality of Vilnius established Vilnius City Innovation Industrial Park and in August appointed Northtown Vilnius as its operator.

5 years after the establishment of the Park, the attracted investments already exceed 73 million euros, 20 companies and 6 clusters are located in the territory, more than 500 high added value generating new job openings have been created, and a business incubator established.

According to the CEO of Northtown Vilnius, operator of VCIIP, Gediminas Pauliukevičius, although five years is a relatively short period for the investment zone under development, for VCIIP it was very intense and full of challenges – after all, such a specialized innovation industrial park was created for the first time not only in Vilnius, but also in Lithuania.

‘However, the most important moment in the history of VCIIP was the choice of life sciences as a strategic direction, which has altered the park’s vision accordingly – to become one of the strongest center of life sciences in the region,’ Gediminas Pauliukevičius is glad that this vision is becoming a reality. Strong life sciences companies already find home at VCIIP, VU Life Sciences Center and LithuaniaBIO became VCIIP’s strategic partners, VCIIP is participating and sponsoring initiatives important to the life sciences industry.

Moreover, CEO of Northtown Vilnius notes that what was achieved in the park in such a short time – attracted investments, the strongest industry players brought together, networking and clustering encouraged are all important steps for creating value chains and increasing the competitiveness of Lithuanian life sciences industry not only at the national but also international level.

‘However, work is still ahead. Lithuanian life sciences industry, and especially young companies with great innovative potential still lack physical conditions – laboratories and research infrastructure which can accelerate growth in the first stages of the development. We consider ensuring the development of such infrastructure in the city of Vilnius as one of the most important tasks of the coming years. This year we will build a unique Technology Development Center with a laboratory complex exclusively dedicated to the life sciences industry, in the future, we are also planning additional infrastructure for the incubation of life sciences companies,’ CEO of Northtown Vilnius shares the plans.

According to the operator of VCIIP in the coming years, the territory of VCIIP will change beyond recognition – the development projects of new streets and communications infrastructure will be completed. Biotecha and British School of Vilnius buildings will be built this year, a bit later Stem Cell Research Center, Immunodiagnostika, Domus Naturae and CMB Biotechnologies will operate in their new research centers at VCIIP.