Lithuania's startup environment is booming: the Lithuanian startup ecosystem is now one of the fastest growing in Central and Eastern Europe. According to Dealroom, Lithuania's ecosystem value increased 16.8 times from 2017 to 2022, 4.2 times higher than the CEE area average. This exceptional startup growth rate is a result of none other than consistent regulatory improvements led by the Lithuanian government, as well as supportive ecosystem facilitators that have contributed to the development of this vibrant startup community. Within the scene, there are numerous startup support programs that founders, teams, and startups can partake in to improve their chances within the market.
In this article, we have compiled a comprehensive list of all incubator and accelerator programs in Lithuania, along with a short overview to help you find a suitable program. The incubators and accelerators in this list have been subdivided into applicability for startups in their 'ideation', 'launch', or 'growth' stages.
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FULL LIST OF STARTUP INCUBATORS AND ACCELERATORS IN LITHUANIA
Ideation Stage Startup Incubators in Lithuania
Full list of ideation-stage startup incubators in Lithuania:
Who is it for: Aspiring entrepreneurs with an idea and seeking cofounder
Need to have an idea: Yes
Focus: CleanTech
ClimateLaunchpad is a competition for green business ideas, with the objective to combat climate change with cleantech solutions. If you have a concept or invention with an environmental impact, you can submit your ideas to enter the competition. If you are chosen to participate in ClimateLaunchpad, the Boot Camp and coaching sessions will assist you in developing your ideas and building a strong business model; avoiding any potential challenges along the road. You'll learn how to get your concept funded and launched, and you'll pitch it at the National and Regional Finals.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Deep Tech, Life Science, Software, Hardware
Baltic Sandbox Ventures is an early-stage investor focusing on R&D-focused and deep-tech startups solving complex technical challenges. They offer a 7-week equity-free incubation program targeted at founders who are doing R*D on specific solutions/technologies and offer them an opportunity to receive up to EUR15,000 investment per team. They also offer a 6-month long acceleration program, which is targeted at teams who already have an MVP and are able to show the results within the first 12 months. Within the acceleration program, teams will participate in a Business Development Lab, with a chance to receive up to EUR125,000 in investment.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: GovTech
GovTech Lab Lithuania is a public-sector team dedicated to fostering the development and implementation of innovative government solutions. GovTech Lab assists the public sector in identifying challenges that technological solutions may answer. To that end, they organize the GovTech Challenge Series, a structured program that engages startups and SMEs in developing creative solutions and accelerating teams in the GovTech field. In turn, they assist entrepreneurs and SMEs working on GovTech solutions in validating their concepts, developing MVPs, and growing their companies.
Who is it for: Aspiring entrepreneurs with an idea and seeking cofounder / Early startup with a team
Need to have an idea: Yes
Focus: Impact
Futurepreneurs is a pre-accelerator program for sustainability-focused and impact-driven entrepreneurs and startups. As part of the program, participants receive support from business experts and mentors as they build their firm from an idea to a viable solution that is investment-ready. Participants must focus on Sustainable Development Goals and discover innovative solutions to global challenges. The program includes open lectures on the fundamentals of launching a business, hands-on workshops, individual mentorship sessions with business professionals, and a chance to pitch to potential investors. Participation in the program is completely free, and no equity is required.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Sector Agnostic, Sustainability
Katalista Ventures is an accelerator and advisory firm for Triple Top Line startups; i.e. startups with the goal to have a positive impact on People, Planet, and Profit. Their objective is to assist high-impact ventures in expanding sustainably by assisting startups in concept validation, product development, and fundraising. You'll receive personal mentoring from seasoned value-based sustainability leaders to help you integrate the Triple Top Line into your business model. They'll also provide you access to a network of entrepreneurs, policymakers, and corporations to help you scale your organization.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Technology
Sunrise Valley Science and Technology Park is a non-profit organization that provides infrastructure and other innovation support services to early-stage innovative startups as well as other knowledge-intensive businesses. They promote business and science collaboration and create a supportive R&D environment; housing tech ventures and university members that aim to commercialize their knowledge and develop their innovative businesses. The Park is also home to a variety of startup-related activities, including the CERN Incubator, which strives to help start-ups and small and medium-sized companies (SMEs) turn unique technology and skills into revolutionary products or services.
Launch Stage Startup Incubators and Accelerators in Lithuania
Full list of launch stage startup incubators and accelerators in Lithuania:
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Blockchain
BlockStart is a pan-European DLT/blockchain partnership initiative that provides early-stage entrepreneurs to collaborate with SME adopters of blockchain solutions. The customized curriculum includes a three-stage immersive market validation program that will guide startups through the ideation, prototyping, and piloting stages. Startups will get hands-on mentoring and intensive training, as well as coaching and investor connections from BlockStart's partners. It is a one-of-a-kind opportunity to refine your product, grow your business, and work closely with potential customers to identify the blockchain solution that best meets their needs.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Blockchain for Agrifood, Logistics, Finance
Block.IS is an initiative that intends to promote the use of blockchain technology in three critical areas of the European economy: agriculture, logistics, and finance. Block.IS intends to provide competitive and market-oriented European entrepreneurs in the ICT industry with personalized business and technical assistance, as well as access to funding and markets. They organize open calls that will filter through ideas from conception through commercialization with a program that is divided into three phases: innovate, experiment, and commercialize.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Digital Industry, Digital Tech, Digital Wellbeing, Digital Finance, Digital Cities
The EIT Digital Venture Program is an international growth support program for European entrepreneurs that will take you from idea to investment within a year. The program will assist teams in de-risking their deep-tech ventures through market validation with real customers, maximizing their product-market fit, and preparing for financing from investors. The program is run in trenches with a number of funding and further benefits unlocked with each milestone achieved.
Kaunas IN
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Sector Agnostic
Kaunas IN is a public institution that is involved in promoting Kaunas city as a destination for startups, tourists, filmmakers, and more. Their startup initiative involves a program that offers coaching as well as the resources required for innovators and startups to launch and grow in Kaunas. Mentoring sessions, training cycles, and startup community gatherings are all made available to Kaunas' most promising businesses.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Technology
Nextury Ventures is a venture fund that invests in early-stage, high-growth tech startups. Aside from investments, they also provide startup incubation services which provide startups with a unique combination of operating facilities and strategic counsel. A network of executive advisers and a growing network of mentors will assist startups in finding solutions to operational difficulties and charting the optimal strategic route to growth.
Growth Stage Startup Accelerators in Lithuania
Full list of growth-stage startup accelerators in Lithuania:
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: B2B
Startup Wise Guys is a global startup accelerator with the objective to locate overlooked founders and early-stage firms and catapult them to global success. They offer programs across various startup stages: Building programs for early-stage founders or teams who are starting out and looking to validate their MVP, Growing acceleration programs for teams building products and launching them to the market, and Scaling programs for scaleups intending to expand their market.
Who is it for: Early startup with a team
Need to have an idea: Yes
Focus: Multiple Sectors
Startup Division is a premier startup support organization in the Baltics, acting as a one-stop shop for comprehensive assistance in creating, accelerating, and funding your firm. They offer a variety of vertical-focused acceleration and scaling programs that will provide entrepreneurs with the experience, contacts, and prospective investment options they require to launch and scale their firms. Being part of the program will allow startups to access a worldwide network of startup accelerators, incubators, venture capitalists, and business angels.
Closing Thoughts on Startup Incubators and Accelerators in Lithuania
It comes as no surprise that the startup ecosystem in Lithuania has grown significantly in recent years. Lithuanian startups are open to innovation and are keeping up with global trends. Local startups are actively developing new technological firms; with the startup accelerators and incubators offering numerous opportunities to help these startups build, launch, and grow their business into global successes. Overall, Lithuania has an excellent environment and friendly community that allows startups to develop and thrive together.