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A. Armonaitė invites global accelerator Techstars to invest in Lithuania

Date

2022 11 03

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Minister of the Economy and Innovation Aušrinė Armonaitė, after meeting in Lisbon with Maelle Gavet, the CEO of Techstars, a global start-up accelerator, invited the company to expand its activities and invest in Lithuania.

"Lithuania's start-up ecosystem is growing and expanding rapidly. The value of the country's innovative businesses has grown 17-fold since 2016, and the number of startups has almost doubled in the last five years to more than 1,000, including two unicorns.  Lithuania has a huge potential and our startup community needs to be fostered globally, and Techstars could contribute to this goal by helping promising startups to grow faster," says A.Armonaitė. 

Techstars has invested in more than 3,300 early-stage startups and Maelle Gavet, who heads Techstars, is one of the brightest stars in the global tech industry. "Techstars ran more than 50 accelerator programmes last year in 18 countries around the world, including the US, Germany, the UK and more.

A. Armonaitė is attending one of the largest technology conferences in the world, Web Summit, in Lisbon, where for the first time Lithuania's stand is being presented. She has been invited to give a presentation at this event, and is also meeting with António Costa Silva, Portugal's Minister of the Economy and Maritime Affairs, as well as business representatives from Portugal and other countries, with whom she is discussing opportunities for the development of the start-up ecosystem.

Lithuania has set a target to triple the sales, exports and investment attracted by startups by 2030.