BDAR
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Development and expansion of the Startup Platform / Environment, involving students, researchers, and business (TechHub)

Project implemented by: The Agency for Science, Innovation and Technology (MITA)

Project implementation period: 2019. November – 2022 November (36 months). 

Project value: 1.982 million Euros.

The project is funded by the European Regional Development Fund. Number and title of the measure: 01.2.1-LVPA-V-842 Inogeb LT.

Goal of the project: 

To embed the TechHub platform for the development of innovative ideas and early-stage startups, to encourage researchers, students and businesses to develop innovative business ideas, provide their teams with comprehensive innovation and business support, and enable intensive growth in the high value-added knowledge segment in the Lithuanian economy. 

Project objectives:

  • To create an environment for the development of innovative business ideas, intensive growth of startups and sustainable development of the entrepreneurial ecosystem in the TechHub platform; 
  • To increase the knowledge of innovations created and developed in the TechHub platform and to promote the attractiveness of entrepreneurship.

Project activities:

  • The TechHub platform will enable the creation of early-stage innovative business ideas, the growth of startups and the sustainable development of the entrepreneurial ecosystem. 
  • The program will provide professional, international-level consulting, mentoring, and business development support services to early-stage, innovative startup teams.
  • The activities of the program, enabled through the implementation of innovative methods and various forms of creativity and entrepreneurship, will create pre-incubation conditions that allow innovative ideas to grow in the shortest possible time.
  • Increase the knowledge and attractiveness of innovations created and developed on the TechHub platform. Consistently and systematically inform the public about the success stories of the entrepreneurial ecosystem, pre-incubation ideas, their application, achievements, market trends. 

Project description:

Until now, insufficient attention has been paid to innovative but early-stage business ideas in Lithuania. That is caused by the high degree of risk, the low likelihood of a return on investment, the closed nature of the innovation culture are the shortcomings that pave the way for intensive economic change. However, it is at an early stage that innovative business ideas have the potential for radical innovation, bringing new products, new business models and even new market segments. The modeling of the entrepreneurial ecosystem in Lithuania should reflect not only the environment for the creation of mature innovative businesses, but also the opportunities for the creation and development of early-stage innovative business ideas, complementing and balancing all components of innovation support systems. Creating an entrepreneurial ecosystem requires an environment that brings together initiative and idea owners, a public business support system, industry and academia, a venture capital market and.

Project results:

  • 120 startups (pre-accelerator participants)
  • 60 visits to events, meetings and accelerators in EU countries 
  • 200 consulted companies and startups
  • 30 events (27 discussions / conferences and 3 hackathons)
  • 100 innovations created and / or implemented 

How can TechHub help innovators:

  • Pre-acceleration program. A 3-month training course for startups who want to turn their ideas into innovations. During the training teams will develop their solutions together with personal mentors, lecturers, and present them to the investors during the Demo Day event. 
  • Consultations. TechHub experts consult innovative business about strategy, financing opportunities, marketing and other topics. 

Contacts:

Gintarė Narakienė, project manager, tel. (+370) 610 39 339, e-mail [email protected]
Gediminas Rumšas, pre-accelerator manager, tel. (+370) 620 74 089, e-mail [email protected]
Milda Vilčinskaitė, communications specialist, tel. (+370) 679 90633, e-mail [email protected]

Last updated: 29-04-2022