Establishment of an effective innovation framework for the creation, acceleration and development of startups and promotion of product idea development through hackathons and incubation services (SEIV system) (STARTUOLIS)

Project Objective: 

To create a coherent system for promoting innovative activities.

Project description: 

Tech-Park Kaunas will contribute to the progress measure "Establish a coherent system for promoting innovative activities" by strengthening the startup ecosystem in the region of Central and Western Lithuania with the help of the following activities:

Hackathons: it will provide opportunities for business ideas to stand out and develop and for teams to form. It is a great platform to create a network among talented individuals with different competencies.

Pre-acceleration programme: designed to prepare the business model for startups and to deepen entrepreneurial knowledge. Through this programme, startups will acquire the necessary skills and knowledge to develop a successful business.

Startup Incubation Programme: designed for the long-term development of startups by providing them with advisory and support services and infrastructure. It helps startups to get the right support and resources to grow their businesses.

The project aims to implement a more qualitative and interdisciplinary (from an idea to an innovative product that potential buyers would like to buy) system of fostering innovative activities, strengthening first of all the founder's entrepreneurial skills, resilience to risks and mistakes, and the practical skills of how to take the business to a new qualitative level, so that at the end of the project more new products are created, more startups are established, and more new jobs are created in Central and Western Lithuania. The project will create pre-acceleration and incubation programmes, starting with hackathons specialising in IoT and health technology business development, bringing mature startup founders with experience in business, and business sales, and attracting investment as mentors into the hands-on training process.

Overall, the Project will increase the number of innovative ideas and the involvement of motivated teams from universities, colleges (researchers, students), traditional small businesses or individual teams in a coherent system of promoting innovation activities in the Central and Western regions of Lithuania (bridging the gap between Vilnius region and the Central and Western region), improve the practical readiness of founders to create more than one start-up business, increase the number of conversions from the idea to the creation of the product, stimulate the involvement of interdisciplinary, mixed teams and specialists in the development of a product for a potential customer and significantly increase the "funnel" capacity for venture capital funds operating in Lithuania.

Project value: 990 957,25 Eur

Project funding: 842 313,66 Eur (financed by European Union funds for 2021-2027)

Contact person:

Neringa Žebrauskienė
Email: neringa.zebrauskiene@techpark.lt