The first accelerator program in Israel of Lithuanians startups began very active


2018 05 11


Currently, the first accelerator program in Israel is being conducted by the Agency for Science, Innovation and Technology (MITA). It involves 6 Lithuanian starters – “BalticPromo“, “Biome“, “Gasefis“, “Innospark“, “Parking Industries“ and “Visela“.

The aim of the program is to promote the growth of companies, the development of innovative products, services and technologies, the development of the Israel’s market, cooperation with foreign partners, participation in international research, experimental development and innovation programs.

The "Start-Haifa" accelerator program has brought a large team of more than 25 professionals - experts, risk capitalists, investors, business leaders, business executives, technology and innovation developers, technologists and others - to work with the representatives of Lithuanian innovative business. The strategic partners of this program: Technion Institute of Technology, Haifa Seaport, Israeli Railways, Haifa Municipality, “Mati Haifa” Business Development Center, the Agency for Science, Innovation and Technology (MITA) and the Ministry of Economy of the Republic of Lithuania.

The first days of Lithuanians began very active. Participants not only had the opportunity to get acquainted with the Israel‘s starter ecosystem, but also took knowledge of the best and best-known professionals in their field.

“This program is also unique because it involves thoroughly selecting individual practical exercises, analyzing each company individually, its advantages, needs and challenges. Participants have the exclusive opportunity to look at their work from other sources and get targeted expert advice on realistic, easily applicable product development, market opportunity exploitation and investor attraction opportunities. In addition, after the end of the program in Israel and after the business representatives returns to Lithuania, the participants will have an additional opportunity to continue their communication: in the wake of the issues related to the accelerated program themes, Lithuanian businessmen will be able to receive free consultations from the relevant field experts on a remote basis, "says Lithuanian starters accelerated MITA coordinator in Israel Viktorija Bražiūnaitė.

During the program of accelerated Lithuanian starters in Israel, the participants improve their knowledge of how successfully develop a business, which business model to use, what to change, how to properly use communication methods. The participants also explore the peculiarities of participation in international research, development and innovation programs, and develop skills for presenting themselves to potential investors and attracting funds for further successful product development.

Participants in the 1:1 session with relevant field mentors are advising on business and technological development, financial attraction, partner search (business or science), product development, market opportunities, “MVP” (active product), ”POC” (concept testing), brand, intellectual property management, development and other issues.

A separate day is dedicated to getting acquainted with the starter ecosystem of Tel Aviv. Lithuanian business representatives will visit successful start-up technology and cooperation centers. Also, they will meet in a discussion with starters working in similar fields and will make useful contacts.

The demo day will be crowned on Thursday by the starters who will have the opportunity to present their activities to potential Israel’s investors and partners.