NanoAvionics awarded at European Sail competition – LVPA administered project New Possibilities LT contributed to the success

The winners of 12th competition European Sails have been announced. This year the winner of best EU structural funds financed investment project in the category of most inspiring small business projec was Lithuanian space technology company NanoAvioniocs. The awarded project was named Search of New Markets and Development of Current Markets by NanoAvionics.

During the event organized by Ministry of Finance company was awarded  for new and inniovative products being introduced to the market and for the ability to find and win new niches for business business in the whole world, using EU investments.

NanoAvionics CEO Vytenis Buzas says that since the establishing the company one of the main challenges was entry into international satellites‘ market while physically developing and manufacturing products in Lithuania. Therefore international exhibitions and setting up new branches in other countries are very impotant elements of business development.

„New Possibilities LT project had a significant positive impact speeding up the development processes. It helped to attend more exhibitions, display our products and meet potential buyers eye to eye. From business development perspective it is especially satisfying that during sufficiently short periodo of time we became one of the world leading producers of small sattelites. Giants of space industry like NASA, ESA, Thales, Alenia Space and others entrusts their missions to NanoAvionics“ - says Mr Buzas.
Director of Lithuanian Business Support Agency (LVPA) Aurimas Pautienius-Želvys emphasizes that by using EU investments and working with LVPA companies might achieve much larger scale of their projects.

„By using EU investments, companies not only feel more confident while implementing projects, but also have significantly more possibilities, depending on direction of the procect. We closely cooperate with clients  and see that for instance projects aimed at export development not only allow to learn about new potential markets, but also help finding new clients , partners or colleagues and purifying demand for new products. European Sails award to NanoAvionics confirms that while implementing EU finances project it creates value for the entire country,“ – claims Mr Pautienius-Želvys.

Developing and manufacturing of nanosattelites and managing their missions is main business of NanoAvionics. Its produce is being exported to more than 25 countries worldwide. The company currently works on development of new 

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