Lithuanian IT Sector Is Set For Explosive Growth

In the past few years, Lithuanian IT sector skyrocketed to great heights. With 31,5k IT professionals and 1300 IT graduates, the country is ranked 13th in the world for IT skills. Lithuania hosts 13 of the 20 largest IT companies in the Baltic states and is a home to global tech giants like Google, Uber, Wix, Unity and more. Plus, the number of foreign investment grew significantly giving rise to the variety of startups and tech businesses.

Yet, in order to compete on a global scale, Lithuanian IT companies have to be resourceful, capable of executing big complex projects and provide with full spectrum digital solutions. That is not often the case for smaller IT companies in the country of only 3 million inhabitants. Thus, we started to see the trend where companies unite into larger clusters, to ensure effective solutions and to be able to work with clients otherwise reserved for the large players.

This structure offers the number of benefits for clients, such as saving resources by using services from only one company from the cluster or getting consulting from companies which have access to deeper knowledge about your market. At present time, 46 cluster initiatives are identified in Lithuania, and ICT constitutes a large part of that number.

“The main our goal is to develop IT industry and to support the image of Lithuania as a country with best conditions for business, careers, and life,” comments Tomas Navardauskas, Consultant and country manager at Waynord Cluster.

The Cluster is comprised of 8 specialized software development companies, complementing each other’s expertise and working seamlessly together to provide with quality software development services, solutions and customer care.

Waynord employs 105 people and works in main areas: promotion, education (human capital), infrastructure (quality of life), business support and development. To date, the company implemented 3,5 thousand projects, such as for example Baltic Blues.

The total cluster turnover in 2016 exceeded 4.15 million euro. The company aims to export services to Scandinavia, Germany, and Israel.

The idea of creating a Waynord cluster was due to enormous competition in the export of IT services. There are a lot of hard-working and well-run IT companies in the world, but clusters offer tangible value and benefits by giving synergies that participating businesses can enjoy. Check out how Waynord can help you here: