First, Israel. Then Finland and Slovenia. Now add Lithuania. On Thursday, Lithuanian officials joined in a memorandum of understanding with the city of Akron to collaborate in the development and commercialization of biomedical initiatives. Here is another example of the “technology bridge” the city has been building, Akron as a pathway to the American market for smaller countries with robust activity in new technologies.
Lithuanian officials heard the buzz about Akron opening its arms to such efforts. An exchange of visits the past year, and the relationship was struck.
The fit looks perfect. Lithuania has developed a reputation for innovation. It wasn’t going to enter this country just anywhere. Akron offers the right scale and degree of attention. Effective economic development isn’t just about attracting companies and capital. The new arrivals must mesh well with the local economy, drawing on the advantages already here, even enhancing them.
That is the distinctive factor about Mayor Don Plusquellic’s pursuit of foreign investment, the initiatives complement what Akron has, whether at the University of Akron or the Austen BioInnovation Institute. In that way, the whole of a new economy becomes stronger, eventually fueling job creation and further innovation. A contingent from Taiwan comes in the spring.