"STARTUOLIS" PROJECT

Initiatives are underway to bridge the Lithuanian startup ecosystems gap, focusing on cities in Central and Western Lithuania (CWE). With this project we aim to attract experts, mentors, and investors to cities like Kaunas, Klaipėda, Šiauliai, and Panevėžys, fostering a more inclusive and interconnected startup ecosystem across the country.

2024.03 — 2027.03

 

Lithuania is facing startup ecosystem problem

Although the startup ecosystem in Lithuania is growing, there is a parallel problem - the disconnection of the startup ecosystem between Lithuanian cities. The majority of Lithuanian start-ups are registered and operate in Vilnius.

The Lithuanian startup ecosystem has surged in global rankings, climbing 20 spots in the Startup Genome 2023 report to rank between 41st and 50th globally. Lithuania also holds strong positions in Europe and the EU, according to StartupBlink. Despite this success, there's a notable concentration of startups in Vilnius, with about 71% of all Lithuanian startups based there. Initiatives are underway to bridge this gap, focusing on cities in Central and Western Lithuania (CWE). With this project we aim to attract experts, mentors, and investors to cities like Kaunas, Klaipėda, Šiauliai, and Panevėžys, fostering a more inclusive and interconnected startup ecosystem across the country.

 


 

Solution

6 Hackathons & 4 Incubations &  6 Accelerations

Through out the duration of „Startuolis“ project

Baltic Sandbox aims to expand the startup ecosystem in Central and Western Lithuania by organising hackathons, incubation and acceleration programs in Kaunas, Klaipėda, Šiauliai and Panevėžys. The main theme of the hackathon, incubation and acceleration programs is deep tech and life science. Through this project, Baltic Sandbox would aim to bridge the gap in the start-up ecosystem between Lithuanian cities by helping cities in Central and Western Lithuania to grow start-ups, discover new opportunities in deep tech and nurture new talent.

 

 

 

Life Science Hackathon "Hack in the Lab Kaunas"

Life Science Hackathon"Hack in the Lab Kaunas" is an experimental event aimed at discovering and encouraging teams developing innovative solutions in the field of life sciences. The main objectives of the hackathon are to help teams test their ideas in the lab and reveal the commercial potential of the product.

First Stage of the Hackathon: May 18, Kaunas 

Deadline for applications: May 17, 2024

The number of participants is limited.


 

About Hackathon

How the hackathon is designed:

Workshops and 1-on-1 mentoring sessions with mentors experienced in market research, business development, financials, fundraising, biotechnology, pharmaceuticals, bioinformatics, computational biology, medical technology, entrepreneurship, data science, and regulatory affairs, providing comprehensive guidance across the innovation spectrum, etc

Hands-on experiments/tests in the laboratory

Pitch on the Demo Day

 

Steps to Success

Register for "Hack the Lab.Kaunas" Hackathon using the provided link.

Undergo the interview process for qualification. 

Optionally, join a matchmaking event to team up with an entrepreneur. 

Prepare for lab testing, including protocol development. 

Participate in all hackathon activities. 

Showcase your project on Demo Day. 

Successful projects may enter the Baltic Sandbox Incubation programs for further development.

Who can participate

If you have a Life Science innovation idea, apply!

Who we are looking for:

Life Sciences R&D teams and startups dedicated to pioneering solutions that are primed for laboratory testing. 

Projects that are at a stage where lab validation is the next critical step. 

Teams ready to transition their projects into startup companies or small and medium-sized enterprises (SMEs). 

Individuals with specialized skills interested in contributing to the success of established teams.

Benefits of participating in "Startuolis" iniciatives

All you need to start your startup journey

The main benefits that startups will gain from participating in the hackathon, incubation and preacceleration programmes:

  • Mentoring from experts with experience in Lithuania and abroad

  • Collaboration with investors, opening up the possibility to receive investment for further product development

  • Opportunity to participate in lectures on market analysis, identifying the ideal customer, commercialisation, intellectual property, business development, presenting to investors and other topics

  • Tasks that will allow the start-up to systematically pursue the project further

You'll learn about

An important skills to become an entrepreneur!

  • Market research and ICP

  • Go-to-market strategy

  • Finances and planning

  • Business models

  • Pitch training for investors

  • Minimal Viable team

  • Setting up milestones and roadmap


 
 

Co-funded from the Innovation Promotion Fund