Innovation Agency Startup Lithuania announced allocation of €8,5M for creation of startups

Innovation Agency Startup Lithuania announced allocation of €8,5M for creation of startups in central and western regions of Lithuania. According to the agency, it is necessary to promote the establishment of startups in the regions and other cities apart from Vilnius. The agency claims that about 70% of all Lithuanian startups are located in Vilnius now.

To create more startups in the regions, Startup Lithuania offers to organize and establish hackathons, pre-acceleration, and incubation services provided by science and technology parks, open access centers, business incubators, business information centers, and other companies.

The new companies and centers can receive from €200K to €850K and up to 85% of the project cost. The projects can submit their plans and apply to participate in this initiative until September 2023. 

Startup Lithuania was founded in 2012 in Vilnius as a governmental initiative. The organization operates under the Ministry of the Economy and Innovation as a part of Enterprise Lithuania. The Head of Startup Lithuania is Roberta Rudokien.