The capital of Vilnius in Lithuania is set to become the new tech capital of the Baltics with the construction of a massive tech campus, inspired by renowned British renovation projects like the Battersea Power Station and the Tate Modern art gallery. The project, undertaken by Lithuanian infrastructure firm Tech Zity, will span 55,000 square meters and house 5,000 digital workers, making it Europe’s largest tech campus.
Tech Zity will be renovating several sewing factories in Vilnius’ New Town, transforming the disused industrial space into a modern campus with factory-like office floors and high ceilings.
The aim of the project is to encourage tech workers to return to the office after the pandemic, as many tech companies are now advocating for a return to in-person work.
Lithuania’s Thriving Tech Scene
The tech ecosystem in Lithuania has experienced significant growth over the past decade, according to Darius Zakaitis, the founder of Tech Zity. He stated that there were only 200 people in the Lithuanian tech ecosystem 30 years ago, and now there are 18,000 individuals involved in the industry.
Vilnius, the second-largest city in the Baltic states, is home to a booming tech industry that boasts major unicorns such as Vinted, a popular used clothing retailer, and Nord, a cybersecurity firm. Tech Zity’s new campus will not only provide office spaces but also feature co-living spaces, restaurants, bars, and cultural and educational facilities.
“Vilnius is maintaining a firm position within the European tech scene thanks to rapid innovations and visionary businesses such as Tech Zity,” said Valdas Benkunskas, the mayor of Vilnius. He emphasized the city’s dedication to bold ideas, successful collaborations, and people-focused solutions.
Tech Zity currently manages three tech campuses in Vilnius, which are home to companies like Google, Bored Panda, and Kilo Health.
The project is a significant endeavor, with plans to expand the campus to 80,000 square meters over time. Tech Zity has partnered with U.S. streaming platform Netflix for filming purposes and envisions the campus as a center for both work and leisure, with a vibrant night life and various socializing opportunities.
Challenges Ahead
While Lithuania’s tech scene has seen remarkable progress, the country still has a long way to go before it can compete with major tech hubs like the U.K., France, or Germany. In 2022, Lithuania attracted 222 million euros in venture capital funding, whereas the U.K. and France raised significantly higher amounts.
However, there is growing interest from venture capitalists in Lithuania, with many top VC firms now actively engaging with local startups. This indicates a positive trend for the country’s tech industry.
Denial of responsibility! VigourTimes is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
