Regional Dissemination Event in LITHUANIA on February 13th.
On February 13, 2025, the Lithuanian Innovation Center (LIC) hosted a regional dissemination event in Kaunas, Lithuania, bringing together local stakeholders. The event welcomed 20 participants, including representatives from the Lithuanian Data Agency, business support organizations, and companies specializing in data analysis and utilization.
During the meeting, Povilas Bacevičius from LIC informed attendees about the Joint Study prepared by the advisory partner, as well as the findings from the regional co-assessment exercise and interregional peer review. Key results were shared, including the SME Bankruptcy Insolvency Prediction Model case study and best practices identified in the project partners' regions. Lithuania’s contributions to the study were also highlighted. Additionally, the presentation primarily focused on one of the initiatives identified during the initial phases of the project, the "Manufacturing Digitization Index." This initiative was introduced to project partners to demonstrate how data analysis can improve business support services.
Furthermore, Lithuanian companies and organizations previously showcased to project partners were invited to present their services and discuss opportunities for improving business activities. Vadimas Ivanovas, a representative from Statistics Lithuania, introduced the organization’s services and explained how companies can leverage publicly available data to enhance operations and develop new products or services. Participants were informed about opportunities to apply statistical insights and relevant use cases.
Julius Račiūnas from Neurotechnology presented the application of large language models (LLMs), natural language processing, and other technologies to improve business efficiency. His talk covered areas such as process automation, text analysis, and communication. Additionally, Vytautas Siaurusaitis from Day Q Analytics delivered a presentation on data applications for business efficiency. He demonstrated how big data analytics and visualization tools can help companies manage various business areas, including human resources, sales, inventory, and finance. A practical case study illustrated how business analytics tools enable companies to compare their performance with industry competitors, leading to more informed decision-making.
The final presentation was delivered by Artūras Jakubavičius from the Lithuanian Innovation Center, who introduced available business funding schemes. Since many companies struggle to finance innovations, he outlined various EU and national funding mechanisms, tax incentives, and soft support services available to businesses.