Construction technologies in Lithuania: a vast opportunity to grow

Lina Svaldenienė

Last year prominent consultancy McKinsey & Company shared an insight, highlighting the possibilities that startups bring to a country’s economy. A strategy to both increase the number of start-ups and facilitate their ability to scale can elevate a country to a global leader in the world of entrepreneurship ecosystems.

A robust entrepreneurship ecosystem has the potential to be among the fundamental drivers of a nation’s economy and a linchpin of its society. Contech Lithuania is a grass-rooted initiative by SA.lt which is eager to build such an ecosystem in Lithuania.

There is an opportunity to build a strategy that encourages the participation of a more diverse groups, such as real estate developers, general contractors, universities, architects and engineers, and founders of start-ups, as well as institutions. Working together towards the same goal of sustainable and efficient construction industry in Lithuania would foster even more entrepreneurial activity.

According to McKinsey, the most significant share of value creation lies in the opportunity to facilitate start-ups’ ability to scale. The involvement of all the stakeholders of the industry can transform the entrepreneurship ecosystem into a pillar of the national labor market and an engine of value creation and innovation.