Forbes has included Lithuania in its list of five places to watch for tech investors.
© K. Cemnolonskio nuotr.

While London and Berlin remain the most high-profile startup hubs, other places in Europe can also offer "fertile innovation hotspots", Forbes contends. These include Eindhoven in the Netherlands, the capitals of Hungary, Estonia and Portugal as well as Lithuania.

"It may be small, but it is one of the most innovative and tech-savvy countries in Europe," Forbes says about Lithuania. "The proof lies in its burgeoning startup community in which over $100 million has been invested in recent years.

"The tiny Baltic nation has put itself on the map with the likes of GetJar, a cross-platform mobile app store, and Pixelmator, the image editor that was voted best iPad app last year."

According to Startup Lithuania, new businesses are anticipating EUR 27 million investment in 2015.

Masiulis claims Grybauskaite asked for MG Baltic's positive coverage

Eligijus Masiulis , ex-leader of Lithuania's Liberal Movement, accused of accepting a bribe, claims...

Offices of the future will have to offer more than the working premises

The office becomes an important tool to attract employees and is now not just the work premises, but...

Ignitis Group plans to delist its subsidiaries from Nasdaq Vilnius

Lithuania's state-owned energy group Ignitis Grupe (former Lietuvos Energija ) is planning to...

Norwegians press exporters to cut prices amid weakening krone

The weakening of Norway 's krone against the euro has not yet hit Lithuanian exports to the...

Lithuanian Post's board refuse to stay on after ministry orders halt to sale of buildings

Independent members of the management board of Lietuvos Pastas ( Lithuanian Post ) have refused to...