Start-Ups in Lithuania: 2016 in Review

2017-01-03 16:00

There currently are at least 316 start-ups operating in Lithuania, a 15,8% increase from the past year, the website Startup Lithuania announces. They paid a total of 7,49M EUR employee taxes (13,8% increase), and their workforce has grown by 13,9% to 1560 employees.

At Startup Lithuania’ wrap-up event of the year, main achievements and statistics of the 2016 have been announced.

Rubedo Sistemos, a company founded by Kaunas University of Technology (KTU) alumni and operating at KTU Santaka Valley was mentioned as one of the most successful fund raisers: the investments in this company reached EUR 0.5 million in 2016.

KTU’s alumni name is connected to another significant milestone of the year – the first Innovation Fund in the Baltic countries launched by Lietuvos energija .

“Taking into consideration the world practice, we see investments into innovative products and services as one of the innovation fostering instruments. This will enable to attract talents and ideas from outside, and we may use this potential for the enhancement of service quality and efficiency”, says Dalius Misiūnas, Chairman of the Board and the Director General of Lietuvos energija, President of KTU Alumni Association.

2016 also has been a year of growth and maturity for the first and the largest academic start-up community in Lithuania – KTU Startup Space.

“KTU Startup Space community is developing and learning together with all Lithuanian start-up ecosystem. We have grown this year, have welcomed new teams, who, I believe will teach us all a lot. Also, just recently we have signed a cooperation agreement with a team from Belarus, thus, we are becoming international”, says Donatas Smailys, Head of KTU Startup Space.

In total more than 50 start-ups were founded at the University since 2012, when KTU Startup Space was established.

Related news

2017-03-22 11:15
The Lithuanian Ministry of Education and Science is offering 70 partial and fully-funded postgraduate scholarships for international students. Citizens from Ukraine, Belarus, Georgia, Armenia, Azerbaijan, Moldova, Japan, China, Korea and Israel, as well as foreigners of Lithuanian origin, are eligible to apply for...
2015-09-11 14:15
If You need an answer to the question „Why focus on Career?“ there is one given below. Katie Jarvis in her presentation will share some simple tactics and techniques that can help to focus and build Your career. Traditionally ‘Career development’ meant upward promotion. However, organisations are flatter and leaner...
2017-07-21 13:30
Surge, wave, tsunami, flood – images related to water are the most common when talking about refugees in Lithuanian, UK and US media. Also, refugees are often associated with a disease – headache, fever or cancer, a heavy load or a weapon. Although British media uses the most neutral metaphors related to refugees, no...
2017-07-21 08:00
Murat Kokcu, Economics and Industrial Relations, Kocaeli University Erasmus studies in 2013/2014 The most important thing that makes an Erasmus exchange program a different experience is friendships that you established. During the times of my study in Panevėžys I had some friends who helped me in most cases. They...
2017-07-20 17:15
This week the Centre for Quality Assessment in Higher Education has published the results of study programmes’ accreditation for 2010–2016. Kaunas University of Technology (KTU) is among the leaders in Lithuania by the number of programmes accredited for a maximum of 6 years’ period. The greatest share of the best...
2017-07-19 17:00
“I was not sure what a work in Google may bring. I remember thinking: if I fail, I will at least have an impressive CV. However, 6 years after, I am still happy to work for the company”, says Aleksej Viktorcik. Aleksej, who graduated from Applied Mathematics in 2010, is working at Google office in Zurich, Switzerland...
2017-07-19 10:00
The College of Skills Training (by Elsevier) is packed with free online training and advice. Discover today what's new for you to read or watch and continue your online training with us: "How to promote your article for maximum impact?" Please check all offered topics here.
2017-07-17 13:00
Melike Odabas, Economics and Industrial Relations, Kocaeli University Erasmus studies in 2013/2014 My Erasmus experience was brilliant. First, Panevėžys is a lovely, quiet and very green place. Those features are enough for me to love this city! However, being honest, I sometimes got bored only because of not...