A new accelerator programme from Startup Lithuania aims to provide start-ups with global experience and a worldwide network from the outset.
Startup Lithuania, the Baltic country’s start-up ecosystem facilitator, has partnered with the global innovation platform Plug and Play and has opened applications for their first start-up accelerator programme.
The partnership will see the launch of a multi-year accelerator programme aimed at nurturing early-stage, tech-focused start-ups in Lithuania and across Central and Eastern Europe.
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The Startup Lithuania Accelerator powered by Plug and Play will consist of a 12-week acceleration programme, culminating in an Expo Day. The most promising start-ups of the program will join the Global Overseas Acceleration and Learning programme (GOAL) in Silicon Valley and other events in European cities.
The programme aims to provide start-ups with a global experience and a worldwide network from the outset.
“The collaboration with the Plug and Play is a strategic move to further strengthen Lithuania’s position on the global start-up map,” says Aušrinė Armonaitė, Lithuania’s Minister of the Economy and Innovation. “The accelerator is expected to work with 60 innovative companies in Lithuania over an almost three-year period.”
“This collaboration presents an opportunity for Lithuanian start-ups to align with a programme that aims to redefine industry standards and drive growth,” adds Gintarė Narakienė acting director of Startup Lithuania at the Innovation Agency Lithuania. “The US company plans to invest 5.9 million euros in at least 45 start-ups over the next two years. We invite start-ups to actively use this incredible opportunity.”
Global network
The programme will offer a range of benefits to participating start-ups. These include mentorship from global industry experts, pitch polishing workshops, office hours with the Plug and Play team, and an Expo Day, where start-ups will pitch their innovative ideas to a diverse range of potential investors and corporations from international markets.
A key feature of the programme is Plug and Play’s extensive global network with major corporations, facilitating connections and collaboration for startups. Additionally, selected start-ups may join other tailored Plug and Play programmes. This support extends access to an international network, including investors, business growth avenues, sales strategies, customer initiatives, product insights, investment attraction, and a mentor network.
This comprehensive support system positions the Startup Lithuania Accelerator as a gateway to unparalleled opportunities for start-ups seeking accelerated growth and global recognition.
“The partnership between Startup Lithuania and Plug and Play will create a pathway for early-stage tech start-ups to get the resources they need to succeed,” says Saeed Amidi, founder and CEO of Plug and Play. “The start-ups from this programme will have the opportunity to scale, learn, and thrive in the international market, and I look forward to the innovations that will come from this.”
The selection process will begin following the open call for applications. The Plug and Play team will conduct a comprehensive analysis of applicant companies, presenting the most promising start-ups to the Plug and Play Investment Committee for final selection. Applications need to be submitted by February 15, 2024.
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