DEEP TECH AND LIFE SCIENCES STARTUPS  ADVANCEMENT IN CENTRAL AND WESTERN  LITHUANIA

 

Organizer: Baltic Sandbox
Duration: February 2024 to March 2027
Project Value: €656,212 (Co-funded by the EU: €557,780)
Focus: Expansion of the startup ecosystem in Central and Western Lithuania
Activities: Hackathons, Incubation programs, Acceleration programs
Themes: Deep tech, Life sciences
Locations: Kaunas, Klaipėda, Šiauliai, Panevėžys
Objective: To bridge the gap between the startup ecosystems of Vilnius and other Lithuanian cities, fostering startup growth and innovation.
Goal: To achieve 60 pre-accelerated startups by the end of the project.

 

 

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.

 

 

 

You'll learn about

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

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


 
 

Co-funded from the Innovation Promotion Fund