Vilnius University Business School Has Become a Member of the Only Innovative Production Cluster in Lithuania

Vilnius University Business School Has Become a Member of the Only Innovative Production Cluster in Lithuania

Sukurta: 26 May 2022

2022 LWH04384 copyVilnius University Business School (VU BS) consistently develops and strengthens relations with various local and international businesses and education organizations. VU BS announced exciting news – BS has become a member of the only Innovative Production Cluster in Lithuania.

The result of the cooperation between BS and other members of the cluster is the establishment of closer ties between educational institutions and manufacturing companies, and the promotion of interdisciplinary research and innovation development activities. VU Business School offers new opportunities for lifelong learning to both schoolchildren and University students, as well as to those who want to improve their knowledge, including all the representatives of the organizations involved in the Innovative Production Cluster.

"Vilnius University is successfully implementing its declared goal of strengthening mutually beneficial relations with business. In this way, it contributes to shaping the future of higher education, business, and the state's future as a whole. We can rejoice in the unique experience that the main branches of the modern economy (biotechnology, lasers, fintech) largely came from groups of scientists and effective synergy between science and business," says VU Rector Prof. Rimvydas Petrauskas.

VU Business School is active in creating relations between the academic community of VU and business organizations by developing joint (local and international) research and business projects.

"Becoming a member of the Innovative Production Cluster (the only cluster of science and business organizations in Lithuania) is a significant achievement for VU Business School, where we pay special attention to the business and science alliance," says VU BS Director Dr. Birutė Miškinienė.

Clusters, in short, are voluntary gatherings of business enterprises and (or) research institutions and other entities. Clusters work on the principle of partnership; members act together and share helpful information to increase their added value.

"New skills and employment needs, training models are the directions we are consistently pursuing in Lithuania. Therefore, we highly appreciate the involvement of Vilnius University Business School in the Innovative Production Cluster," says Gintaras Vilda, Head of the Production Innovation Valley, which coordinates the cluster.

According to G. Vilda, production has long transcended the boundaries of factories and involves network and dynamic value creation systems that can be organized in multiple ways. According to him, the integration and adaptation of different value creation systems to specific needs and framework conditions contributes to creating a sustainable and resilient European production ecosystem in a dynamically changing and uncertain world.

"We are convinced that the integration of Vilnius University Business School into the cluster will make it easier to establish and develop permanent contact with technology manufacturers and their representative offices in order to maximize the turnover of study programs, curriculum, and lecturers' knowledge directly from technology developers," confident G.Vilda.

Clusters have better conditions for developing innovations, and they have more significant opportunities to cooperate with science and business representatives from other countries. It is also easier for Cluster members to compete in domestic and international markets. As a new member of the Innovative Production Cluster, BS will create added value and innovative decision-making processes for various cluster companies' growth of overall competitiveness with their new partners. BS will also work as a link, strengthening the cooperation of the science and business sectors. The organization will research and attract promising talents to work in Lithuania.

Many companies and organizations which promote and develop international cooperation and the development of innovative business in Lithuania have already joined the Innovative Production Cluster. Among the more well-known members of the cluster are representatives of various business and scientific organizations, such as the Lithuanian Confederation of Industrialists, Profarma, UAB Saulės Grąža, FEZ of Marijampolė, Vilnius Jerusalem Labor Market Training Center, etc.

VU BS offers undergraduate, postgraduate, and MBA programs in business, finance, marketing, management, and lifelong learning opportunities. VU BS integrates research results and innovative solutions into the entrepreneurial ecosystem, promotes the development of the family business traditions in Lithuania, and fosters knowledge sharing in EdTech Hackaton and startup acceleration programs.