According to experts Kaunas is bursting with innovation

Important | 2018-11-08

“I work with startups every day, but I rarely meet teams as hungry for knowledge as here in Lithuania. Startups here have strong willingness to make business happen – there is a fearlessness to move fast that you don’t see in other markets”, says M. Wallace Green, one of the experts of an intensive 8 week programme Kaunas Startup Accelerator run by Kaunas IN, a public institution responsible for tourism and investment attraction to the city.

According to Kaunas IN news release, the Kaunas Startups Program is at its peak: activities range from free and open lectures about networking to selected teams’ intensive work with international mentors in the eight-week accelerator.

During the programme, the experts meet with the select 11 startups of the Accelerator, providing practical tips and knowledge to the starting businesses on how to build their products, enter the market, find connections, and, eventually, attract investment.

In the interview, published by Startup Lithuania, the experts note great infrastructure and many opportunities to build and develop innovative products in Kaunas, especially in the areas of medicine and technology.

“Kaunas startup scene is booming with many untapped possibilities for startups to develop ideas into innovative products and services. Kaunas runs the first startup accelerator with world class experts and mentors; Startup Space by Kaunas University of Technology offers great networking events and assists startups in developing their ideas; Kaunas Science and Technology Park connects businesses with scientific institutions, and has already helped incubate over 350 businesses; and the city offers over a dozen co-working spaces with great infrastructure,” says Jone Vaituleviciute, project manager at Civitta, management consulting company that is helping Kaunas IN run the startup accelerator.

From intellectual property protection and presentation of ideas to identification of the consumer target groups and other topics relevant to new businesses – all of this is included in open and free lectures for startup founders and business-minded people. Since October, experienced professionals of their field, lecturers and mentors, share both experience and systematized theoretical and practical knowledge.

Kaunas city municipality is the first and only municipality that organises a startup support program. For three previous years, it has provided direct financial assistance to startups. This year, Kaunas Startup Accelerator has been launched to allow more startups to receive support. The final event of the Accelerator, Demo Day, will take place on December 6, and will feature a pitch competition where 11 accelerator startups will compete for a seat at the negotiation table with selected investors.

Kaunas IN reminds that until December 6 2018 the open events of Kaunas Startup Accelerator are going on. To get Kaunas Startup Accelerator news, register here.