There are a lot of reasons why Vilnius, Lithuania’s capital city, has an undeniably apparent startup area. The country’s startup-accommodating administrative climate, a delightful archaic town place, more than 20 business centers and gas pedals and solid rankings in licensed innovation creation are generally clear at an undeniable level. In any case, what are local people amped up for on the ground?
Our study respondents said the city was solid across an expansive scope of tech enterprises, especially those with commonsense applications: network protection, energy and supportability, fintech, medical care and medtech, edtech and silver tech among others.
Respondents said the impact of the pandemic on working practices would imply that numerous expats would be moving back to the city, which is reasonable, and more unfamiliar organizations are migrating there because of ideal government strategies, albeit “rental costs are going through the roof.”
In expansion, the severe system in close by Belarus has given a convergence of huge tech organizations, like Wargaming, just as the related talent.
In five years, respondents said the city and nation will proceed to produce and draw in extraordinary tech new businesses, yet in addition tech ability and business visionaries. In any case, one said: “The environment actually needs neighborhood subsidizing for the late Series An and past rounds.”
We surveyed:
• Gerda Sakalauskaitė, overseeing chief, The Lithuanian Private Equity and Venture Capital Association
• Lukas Inokaitis, business improvement, NFQ Technologies
• Andrius Milinavicius, organizer, Baltic Sandbox
• Gytenis Galkis, accomplice, 70V
• Gabriele Poteliunaite, partner, Change Ventures
• Rokas Tamošiūnas, accomplice, Open Circle Capital
• Donatas Keras, establishing accomplice, Practica Capital
• Tomas Martunas, establishing accomplice, Iron Wolf Capital
• Alex Gibb, accomplice, Katalista Ventures
• Jone Vaituleviciute, accomplice, Startup Wise Guys
• Lukas Kaminskis, CEO, Turing College
Gerda Sakalauskaitė, overseeing chief, The Lithuanian Private Equity and Venture Capital Association
What industry areas is your tech biological system solid in? What are you generally energized by? What is it frail in?
The Vilnius startup environment is essentially overwhelmed by new companies creating business the executives frameworks (B2B, SaaS) and monetary innovations. Vilnius is turning into a strong problem area of fintech organizations in Europe having more than 200 fintech organizations set up here. Other developing enterprises would be profound tech, life sciences, versatility, and the game industry.
Which are the most fascinating new companies with regards to your city?
Vinted (first Lithuanian unicorn, used design online commercial center which brought €128 million up in a value financing round, esteeming the organization at over €1 billion in 2019).
Other striking new businesses: NordVPN, CGTrader, TransferGo, Trafi, Kilo Health, CityBee, Brolis Semiconductors, PIXEVIA, Oxipit.
Rising stars that likewise ought to be taken a gander at: PVcase, Droplet Genomics, ZITICITY.
What are the tech financial backers like? How is the venture scene in your city? What’s their focus?
I think nearby tech financial backers are facing more challenges and becoming worldwide scene players. Financial backers had their 10 years of market insight and presently they are prepared to put into thoughts and organizations that would change the worldwide scene or even tackle issues really perplexing — ecological, biotechnology or profound tech ventures. Additionally, the neighborhood financial backer local area is very powerful. We look to have our financial backer scene as different as could be expected, so we are pursuing sexual orientation correspondence in VC and other significant variety causes to achieve that.
With the shift to far off working during the COVID-19 pandemic, will individuals stay in your city, move out, or will others move in?
I think COVID-19 set out more open doors for Vilnius than chances in such manner. The Covid emergency, by and large, hasn’t influenced the Vilnius startup environment similarly as the remainder of Europe. Likewise, Vilnius has stood out as truly newsworthy worldwide with its innovative answers for tackle the pandemic difficulties. For example, Vilnius became one enormous outdoors bistro. This shows Vilnius being a peculiar, hip and fascinating city to live in, so we are anticipating that more expats should look at Vilnius. Particularly expats from our Eastern neighbors who are adversely influenced by a continuous political emergency (Belarus).
Who are the key startup individuals in your city (e.g., financial backers, organizers, attorneys, planners, etc.)?
Founders:
Justas Janauskas, Milda Mitkutė, Mantas Mikuckas (Vinted)
Henrikas Urbonas, Simona Andrijauskaitė (Interactio)
Dalia Lašaite (CGTrader)
Tomas Okmanas, Eimantas Sabaliauskas (Tesonet)
Tadas Burgaila (Kilo Health)
Daumantas Dvilinskas (TransferGo; Forbes 30 under 30)
Martynas Gudonavičius (Trafi)
VC investors:
Rokas Peciulaitis (Contrarian Ventures)
Donatas Keras (Practica Capital), Arvydas Bložė (Practica Capital)
Jone Vaituleviciute, Dmitrij Susunov (Startup Wise Guys)
Kasparas Jurgelionis (Iron Wolf Capital)
Gytenis Galkis (70Ventures)
Viktorija Vaitkevičienė (Coinvest)
Legal experts:
Rūta Armone (Ellex)
Akvilė Bosaite (COBALT Legal)
Eva Suduiko (COBALT Legal)
Mantas Petkevičius (Sorainen)
Laimonas Skibarka (Sorainen)
Linas Sabaliauskas (TRINITI JUREX)
Andrius Ivanauskas (GLIMSTEDT)
Where do you see your city’s tech scene in five years?
Vilnius will acquire force as the tech startup city of the district. The quantity of startup individuals they utilize will develop dramatically. We will have a couple of additional unicorns brought into the world here. What’s more, obviously very more unfamiliar ability coming to Vilnius to work in startups!
Lukas Inokaitis, business advancement, NFQ Technologies
What industry areas is your tech environment solid in? What are you generally invigorated by? What is it frail in?
Mobility, fintech, energy, network protection, medical care. Powerless in AI, information science.
Which are the most intriguing new businesses with regards to your city?
Vinted, Tesonet, Kilo Health, Pored Banda, Hostinger.
What are the tech financial backers like? How is the speculation scene in your city? What’s their focus?
Local and with little assets, for the most part financed by government and EU. Need huge private ones and more heavenly messenger investors.
With the shift to far off working during the COVID-19 pandemic, will individuals stay in your city, move out, or will others move in?
The city [has been] developing for 10 years every year. No motivation to dial back as more global ability is moving to Vilnius from other EU and Asian countries.
Where do you see your city’s tech scene in five years?
One-two unicorns consistently and driving EU in fintech, portability and energy.
Andrius Milinavicius, originator, Baltic Sandbox
What industry areas is your tech biological system solid in? What are you generally energized by? What is it frail in?
Sustainability, silver tech, ladies in tech.
Which are the most fascinating new companies with regards to your city?
Tesonet (NordVPN), Vinted, Traffi, Kilo Health.
What are the tech financial backers like? How is the venture scene in your city? What’s their focus?
Deep tech, SaaS, sustainability.
With the shift to far off working during the COVID-19 pandemic, will individuals stay in your city, move out, or will others move in?
Everyone stays. Vilnius is a really green and dynamic environment, with various collaborating [locations] and simple admittance to woodlands, parks and close by lakes.
Who are the key startup individuals in your city (e.g., financial backers, organizers, legal counselors, architects, etc.)?
Many of them, beginning from Contrarian Ventures — Rokas Peciulaitis, Practica Capital — Arvydas Bloze, proceeding to Tesonet fellow benefactor — Tomas Okmanas, Eimantas Sabaliauskas, followed with Kilo Health — Tadas Burgaila and more.
Where do you see your city’s tech scene in five years?
4x in any event. Exceptionally fast growth
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Gytenis Galkis, accomplice, 70V
What industry areas is your tech biological system solid in? What are you generally invigorated by? What is it frail in?
1. Lithuania is currently fourth in the worldwide fintech positioning get-togethers U,S,, the U,K, and Singapore.
2. Lithuania’s life sciences area is acquiring prominence.
3. Life sciences organizations in Lithuania are among the most beneficial in the country, with 90% of their yield traded around the world, yet the market stays unsaturated. Lithuania is sixteenth in the Global Innovation in Biotechnology positioning as per Scientific American WORLDVIEW worldwide biotechnology positioning 2019.
According to McKinsey concentrate on B2B new companies, Lithuania’s B2B new businesses produce more worth per financing than the U.S. also, other European partners, bringing about the most noteworthy capital proficiency in the region!
Which are the most fascinating new companies with regards to your city?
Larger ones would be: Vinted, Tesonet, Kilo Health, Bored Panda, Brolis Semiconductors, Cujo. Interactio as of late has raised a $31 million Series A round — the biggest ever Series A for an organization settled in the Baltics. Impending stars: Whatagraph, Ondato, ZITICITY, Eneba, Robolabs, CAST AI, Foros, Billo, Biomatter Designs, #walk15, Boommio.
What are the tech financial backers like? How is the speculation scene in your city? What’s their focus?
The tech speculation biological system has been advancing quickly during the previous five years. The beginning phase organizations can get financing from the Lithuanian Business Angel Network (LitBAN), which joins more than 150 dynamic private financial backers. Coinvest Capital contributes along private backers and gives them rewarding influence. This is the manner by which the Lithuanian government upholds the holy messenger environment. Then, at that point there are two dynamic gas pedals — 70V (Revenue Accelerator) and Startup Wise Guys provid
