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

2018-01-23 10:15
Greetings to all the new students arriving to Kaunas University of Technology (KTU) for the spring semester. We know, Lithuanian winters can be cold, but do not despair – KTU team has prepared a really warm welcome for all of you. Welcome Week full of events will start next Monday, 29 January. From formal...
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...
2018-01-22 15:15
Taking the 16th place in the international robot-sumo competition, Giedrius Liaučys, a master’s student at Kaunas University of Technology (KTU) Panevėžys Faculty of Technologies and Business is one of the best sumo robot builders in the world in the 3 kg robot-sumo category. 92 participants from all over the...
2018-01-18 16:45
As the Centennial of the Restored State of Lithuania is approaching we kindly invite to visit exhibition in Central library. The exhibition is devoted to Jonas Basanavičius (1851–1927)  a signatory of the Act of Independence, public figure, editor of the first Lithuanian national periodical “Aušra“,...
2018-01-18 16:30
The first meeting of H2020 project OpenAIRE-Advance partners is held on 17-19 th of January in Athens (Greece). During this project implementation OpenAIRE infrastructure will be maintained and further developed to meet the needs of research communities. OpenAIRE infrastructure consists of research data publications...
2018-01-18 12:15
If you haven’t had a chance to listen to Kaunas City Symphony Orchestra, which among many other awards has also been mentioned in The New York Times Best Classical Music Recordings of 2017 list, this weekend might be a perfect chance to fill the gap. On Friday night, Kaunas State Philharmonic will be filled with...
image
2018-01-16 11:30
ViLim Ball technology created at a Lithuanian startup company Fidens helps to reduce uncontrollable shaking of hands, which is one of the symptoms of essential tremor. The technology is effective in 7 out of 10 cases, and it can also be used to alleviate morning stiffness of joints for rheumatoid arthritis sufferers....
2018-01-15 15:15
Apply now for studying at Kaunas University of Technology (KTU) in the academic year 2018/2019. Quality education is a continuous journey of learning and development, full of new knowledge, discoveries, opportunities and ideas. If your goal is international studies, interdisciplinary competences and...