A. Armonaitė discusses the launch of the programme with Plug and Play CEO
During her visit to the US, Minister of the Economy and Innovation Aušrinė Armonaitė met with Plug and Play CEO Saeed Amidi to discuss the launch of the programme in Lithuania and possible closer cooperation.
Earlier this year, Plug and Play launched the first cycle of its international accelerator programme in Lithuania, designed to help early-stage technology start-ups grow. In January, the selection of startups for the accelerator programme was announced.
"We discussed the launch of our startups in Lithuania and possible further cooperation opportunities with the CEO of Plug and Play, who sees great potential in our startups. "Plug and Play's arrival in Lithuania has already yielded positive results, with several other major international venture capitalists and accelerators expressing interest in running their programmes. Our vibrant and energetic startup ecosystem is attractive to foreign investors - last year Lithuania ranked second in terms of venture capital investment in Central and Eastern Europe. I am confident that we will create even more opportunities for our country's businesses," said Aušrinė Armonaitė, Minister of the Economy and Innovation.
In total, Plug and Play will implement five acceleration cycles in Lithuania over three years, during which it plans to grow 60 innovative companies. The US company has also committed to invest at least €5.9 million over three years in at least 45 start-ups participating in the programme.
Participating start-ups will receive expert support from global mentors, take part in pitch workshops and consult with the Plug and Play team. One of the benefits of the programme is the opportunity to join the Plug and Play innovation ecosystem and benefit from an extensive global network, including major corporations.
Startups interested in the first acceleration cycle of the programme can apply until 15 February.
More information:
Ministry of the Economy and Innovation
Public Relations Division
Email: [email protected]