Auction for the acquisition of shareholder rights in the Lithuanian Innovation Centre
The Ministry of the Economy and Innovation has announced a public auction for the acquisition of shareholder rights in the public institution Lithuanian Innovation Centre (LIC).
"As long-standing shareholders, we hope that the LIC will remain an important element in the Lithuanian and European innovation support system, continuing to operate as an innovation advisory service provider and contributing to the strengthening of the country's innovation ecosystem. We have no doubt that the auction will be successful and that the rights will be acquired by new strong shareholders who will have to ensure the continuity of the various projects. The projects may require up to EUR 300,000 of additional investment annually for five years," says Eglė Markevičiūtė, Deputy Minister of the Economy and Innovation.
The auction is being organised in line with the Government's decision in July to sell the State's shareholding rights. Following the withdrawal of the Ministry of Economy and Innovation and the Ministry of Education, Science and Sport, the Lithuanian Confederation of Industrialists will remain a shareholder in LIC and will be joined by the successful bidder.
The auction is part of the ongoing reform of the Ministry of Economy and Innovation in the field of innovation. One of the objectives of the reform is to eliminate the fragmentation of the promotion of innovation activities by designating a single institution responsible for innovation development. In order to achieve this objective, the Innovation Agency, a public body, was established in April this year, based on the Lithuanian Business Support Agency and the Public Enterprise "Versli Lietuva", and consolidating the functions of the Agency for Science, Innovation and Technology in innovation activities.