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Startup Lithuania Launches Fourth Accelerator Program

Startup Lithuania has officially announced the opening of applications for its fourth batch of the Startup Lithuania Accelerator, which is powered by Plug and Play. This initiative is aimed at early-stage, technology-oriented startups from Lithuania and abroad that are keen to set up operations in the thriving Lithuanian ecosystem.

The accelerator program is structured into five batches over three years. Each batch provides participants with the chance to engage in the prestigious Global Overseas Acceleration Learning (GOAL) program in Silicon Valley, available to the most promising startups. This initiative facilitates immediate access to an extensive global network and international opportunities, essential for startups looking to scale.

Povilas Žinys, Director of Plug and Play Lithuania, expressed pride in the introduction of this program, stating, "Our initiative is not just about mentoring, but transforming the startup landscape in Lithuania. By connecting founders with global networks, we are laying a solid foundation for their success."

Startups participating in the accelerator will benefit from a rich array of resources. They will have access to expert mentorship, workshops aimed at refining their pitches, and scheduled office hours with the Plug and Play team. A significant highlight of the program is Expo Day, where startups can showcase their innovative products and services to an audience of potential investors and corporations from various international markets.

In 2024, the accelerator successfully supported 24 startups, representing 64 founders from a diverse array of 15 nations. The participating startups have not only established themselves in Lithuania but also played a crucial role in job creation and capital acquisition for their further expansion. The program's framework has fostered several collaborations between startups and established corporate entities, paving the way for innovative pilot projects and international partnerships.

The application process will now begin following the open call for submissions. The Plug and Play team will meticulously review the applications and curate a shortlist of the most promising startups. These selected startups will be presented to an Investment Committee for final approval. Once accepted into the accelerator, startups will be guided through the process of setting up their businesses in Lithuania prior to a launch event scheduled for May 15, 2025, in the capital city, Vilnius. All applicants will be kept informed regarding the outcome of their submissions, with successful candidates receiving detailed onboarding instructions to assist with their incorporation under Lithuanian law.

Lithuania has recently garnered recognition as the fastest-growing economy in the Baltic region, emerging as an innovation hub poised to drive economic growth across Europe. While it may be comparatively smaller in scale, the ambition and dedication of Lithuanian founders to internationalize their businesses stand out. The government has actively cultivated a supportive environment for startups, simplifying the establishment of new businesses and making Lithuania a prime location for entrepreneurs worldwide.

Through its initiatives, Plug and Play strives to equip participants with essential resources, provide dedicated support, and create pathways to global opportunities by connecting them with leading startup ecosystems, including Silicon Valley itself. Notably, the outstanding participants from every batch will be invited to the Global Overseas Acceleration Learning program, hosted at Plug and Play's headquarters in Silicon Valley.

To facilitate potential participants’ queries, an online information session is slated for February 11. Details will be made available on the Plug and Play events page.

Startups looking for more information about the program and instructions on how to apply can visit the official Startup Lithuania Accelerator website.

About Startup Lithuania

Startup Lithuania, acting as the national facilitator for the startup ecosystem, operates under the aegis of Innovation Agency Lithuania, a non-profit organization established by the Ministry of Economy and Innovation. It aims to bolster entrepreneurship, support business evolution, and encourage exports.

The organization is responsible for compiling data related to Lithuanian startups, offering consultancy to founders, managing the online pre-acceleration program Startup Guide, and where necessary, sponsoring the Startup Visa Lithuania. Various events and workshops are organized to further cultivate this ecosystem.

For further information, please check out Startup Lithuania.

About Plug and Play

Plug and Play serves as the premier innovation platform that connects startups, large corporations, venture capital firms, educational institutions, and government entities. With its headquarters located in Silicon Valley, Plug and Play has established a global presence across more than 60 locations in five continents. They cater to corporate innovation programs and assist partners at all stages of their innovation journeys ranging from education to implementation. Additionally, they host startup acceleration programs and have developed an in-house venture capital arm to drive innovation across multiple sectors, with successful investments in leading firms such as Dropbox, Honey, PayPal, and many more. For more information, visit Plug and Play.