Thanks to a 50% increase in state financing for IT studies this year, the number of highly qualified IT professionals trained in Lithuania is set to grow. The new funding is part of a wider package for a range of study fields that has been recently approved by the government.
The decision to increase funding for IT was influenced by three main factors. First and foremost was consideration of future market needs. The success of Lithuanian IT start-ups in recent years and the growth of the IT sector in Lithuania were also important considerations for policymakers. Year on year growth in the interest foreign IT companies show in Lithuania as an investment location was also a decisive factor.
“The need to increase the number of IT graduates is dictated by the market,” explains Paulius Vertelka, executive director of INFOBALT, a Lithuanian ICT industry association. “Taking this decision was therefore timely and necessary.” And Mr Vertelka is confident the impact of the funding increase will be widespread. “In the long run, it will create a competitive advantage for Lithuania in the global arena”, he predicts.
The decision to increase the number of state-funded IT students was taken following discussions within the government and consultation with employers. And with demand for skilled IT professionals set to continue rising in the future, this funding initiative may be just the beginning.
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