The “unicorn” status has become a measure of success in the startup ecosystem and even a symbol of national pride. However, while public discourse focuses on startups that have reached billion-dollar valuations, the real processes behind building them often remain behind the scenes. Is it even possible to grow a “pure” Lithuanian unicorn in a small country, completely detached from the global world? From a business perspective, what is more valuable: a prestigious title or a quietly profitable company that consistently generates cash?

Every year, dozens of technological ideas are born in Kaunas. They are presented at hackathons, developed in universities, and built by small teams. However, only a small portion of them reach the market. The biggest challenge lies not in the idea itself, but in the most critical stage – when it needs to be turned into a real, functioning product.

“Startup” is a trendy term frequently heard in the public space, often associated with multimillion investments, high-profile success stories, and unicorns reaching billion-dollar valuations. This is encouraging and inspiring, but do startups create real value for a region and a country? What is their significance in a geopolitical context?

For several days, Kaunas became a meeting point for more than 150 innovators from the fields of healthcare, information technology, and artificial intelligence. But events like this are more than just an intense weekend — they are part of a broader, ongoing process. For several years now, Tech-Park Kaunas, together with its partners, has been consistently applying the hackathon format, complemented by technology acceleration programs. This model contributes to the creation of more than 20 new businesses each year.