Vilnius Tech Park will be located in the Sapiega Park and will be housed in what is currently a run-down 19-century hospital. The building is a 200-year-old former military hospital that will be renovated and upgraded for use by start-up offices and as temporary living quarters for outside talent.

"Vilnius Tech Park will attract and unite local and international talent in the gaming, big data, cyber security, and visual graphics sectors and has received significant support from the private business sector. It will contribute towards increasing salaries and in keeping talent in Lithuania, rather than emigrating. We hope that the entire process will be completed by the summer of 2015," said Zuokas.

Ten companies are currently on board with the project. The lead tenant is Game Insight which has relocated its headquarters from Moscow to Vilnius.

The surrounding Sapiega Park will be opened for public use using income generated from the rentals.