The European Innovation Council (EIC) is a key initiative of the European Commission, endowed with a budget of over 10 billion euros, aimed at bridging the gap between research laboratories and real-world product markets. The goal is particularly focused on supporting high-risk but high-impact 'deep tech' technologies. The network of EIC ambassadors gathers experienced participants from the innovation ecosystem across Europe to contribute to strategic discussions, strengthen ties between science, business, and the public sector, and promote breakthrough innovations. Ambassadors also aid innovators in navigating European Union funding and development instruments.

R. Balanaškienė's joining the ambassadorial corps is seen as an acknowledgment of the maturity of Lithuania's life sciences sector. Until now, Lithuania had no direct representative in this high-level expert network, which is pivotal for fostering collaboration and enhancing the region's visibility in the European innovation landscape. The involvement of such representatives can significantly boost local industries and facilitate greater integration with broader European initiatives.

This development not only enhances Lithuania's profile in the European innovation community but also indicates the country's commitment to advancing its life sciences sector. By having a seat at the table, Lithuania aims to leverage the numerous opportunities presented by the EIC to foster technological advancements and innovative projects that can ultimately benefit the local economy and scientific community.