CO-INVEST IN LITHUANIAN DEEP-TECHs

Brief description of the innovation ecosystem and differentiation factors

 

 

Lithuania’s innovation ecosystem, particularly in the deep-tech, fintech, and life sciences sectors, is one of the fastest-growing in Central and Eastern Europe. Supported by strong governmental initiatives, a highly educated workforce, and technology-oriented industries, the country is increasingly seen as a hub for global investors.

According to the Startup Lithuania / Dealroom “Lithuanian Startup Ecosystem 2024” report, Lithuania’s startup ecosystem reached a total value of €16 billion, a 39-fold increase over the past decade. It now ranks 2nd in CEE for ecosystem value per capita (€5,700) and 2nd in VC investment per capita, positioning it as one of the region’s most active ecosystems.

Based on recent data from Unicorns Lithuania, the startup sector is experiencing strong growth. In the first half of 2025, startups contributed €128.2 million to the national budget, a 20% increase annually. The sector now employs 19,500 specialists, and the average monthly salary has reached €4,600, nearly double the national average.

Key differentiation factors in the deep-tech sector contribute to its distinct position:

Focus on Niche Technologies and Global Reach The country’s deep-tech strength is particularly notable in laser technology, biotechnology, and cybersecurity, bolstered by strong academic and research partnerships. These companies have not only attracted international investment but also helped position Lithuania as #1 in Europe for cybersecurity strength. Overall foreign direct investment in Lithuania grew by 7.6% over the year to reach €39.4 billion as of March 31, 2025.

 

Education and Research Institutions Lithuania’s innovation ecosystem succeeds on its consistent network of universities and research institutes, such as Kaunas University of Technology and the Lithuanian University of Health Sciences. These institutions not only encourage a skilled workforce but also drive cutting-edge research. According to Innovation Agency Lithuania, the country ranks second in the EU for STEM academic discipline preferences among students, with 64% female representation in science and technology, emphasizing its commitment to diversity and inclusion.

Governmental Support and Initiatives The Lithuanian government actively supports innovation through financial tools via Invega, grants, tax incentives, and streamlined regulation. Tech-Park Kaunas alone supports over 100 deep-tech oriented companies, promoting collaboration between business, universities, and government. These supportive measures are generating clear results, as shown by the 22 startups that each contributed over €1 million in taxes in Q2 2025, a clear sign that these companies are now significantly strengthening the country’s economy.

National and regional framework

According to Dealroom and Innovation Agency Lithuania reports, by 2024 Lithuania had over 1,000 startups, up from 740 the previous year, continuing its rapid growth in Central and Eastern Europe. Venture capital investment totaled €128 million in 2024, and by the first half of 2025, startups had raised €167.7 million, a fivefold increase compared to the same period in 2024.

Particularly, the ten largest fundraising rounds in the first half of 2025 were:

  • Cast AI – €95.4 million
  • Atrandi Biosciences – €22.6 million
  • Sintra – €14.9 million
  • myTU – €10 million
  • Nexos – €7.7 million
  • Samphire Neuroscience – €4.4 million
  • Astrolight – €2.8 million
  • Pulsetto – €2 million
  • FPRO – €2 million
  • Traxlo – €1.6 million.

Lithuania continues to attract strong international investor interest, with a significant share of VC funding coming from the USA and the rest of Europe. Local investors remain most active in early-stage deals, while the Lithuanian Business Angel Network (LitBAN), now with over 350 members, invested €12.1 million in 2024, participating in approximately 60% of public startup deals.

With strong government backing, a skilled workforce, and a culture of innovation, Lithuania has become a hub where ambitious startups can grow into global leaders.

More information about:

Main strategic sectors in Lithuania

  • ICT (Information and Communication Technology) Ecosystem:

Lithuania has a vibrant ICT ecosystem characterized by a highly skilled workforce, favorable business environment, and strong government support. The country is known for its expertise in software development, cybersecurity, fintech, and IT services.

Strategic segments:

  • Software development
  • cybersecurity
  • fintech
  • IT services
  • Telecommunications
  • Life Sciences Ecosystem:

Lithuania’s life sciences ecosystem is rapidly growing, with strengths in biotechnology, pharmaceuticals, medical devices, and healthtech. The country offers a strong research base, skilled workforce, and supportive regulatory environment.

Strategic segments:

  • Biotechnology
  • Pharmaceuticals
  • Medical devices
  • Healthtech
  • Research and development
  • Fintech Ecosystem:

Lithuania has emerged as a leading fintech hub in Europe, known for its innovative regulatory framework, fast licensing process, and supportive infrastructure. The ecosystem encompasses a wide range of fintech activities including payments, banking, lending, and blockchain.

Strategic segments:

  • Payments
  • Banking
  • Lending
  • Blockchain
  • Regtech
  • Green Energy and Cleantech Ecosystem:

Lithuania is making significant strides in renewable energy and cleantech, aiming for sustainability and reduced carbon footprint. The ecosystem focuses on renewable energy production, energy efficiency, waste management, and environmental technologies.

Strategic segments:

  • Renewable energy
  • Energy efficiency
  • Waste management
  • Environmental technologies

Key actors of the Lithuanian ecosystem

Public Institutions:

Ministry of Economy and Innovation https://eimin.lrv.lt/en/ The Ministry of Economy and Innovation is a Lithuanian government institution responsible for developing economic policies, promoting innovation, and managing projects to boost the nation’s economic and technological growth.

Innovation Agency Lithuania https://inovacijuagentura.lt/?lang=en is a national agency operating under the Ministry of Economy and Innovation of the Republic of Lithuania. It is designed to foster business and science collaboration and to support technological and innovative advancement across various industries in Lithuania.

Invest Lithuania https://rb.gy/o23wvd Invest Lithuania is a government agency that attracts foreign investment by offering support, information, and consultancy to companies looking to establish or expand their operations in Lithuania.

Lithuanian Innovation centre https://www.lic.lt/en/lithuanian-innovation-center/ The Lithuanian Innovation Centre (LIC) is a key organization in Lithuania dedicated to fostering innovation across various sectors of the economy. Its primary mission is to promote collaboration between research institutions and businesses, facilitate technology transfer, and enhance the competitiveness of Lithuanian enterprises in the global market.

 

Technological Communities:

Tech-Park Kaunas https://www.techpark.lt Tech-Park Kaunas is one of the largest business incubators and technology hubs in Lithuania that provides infrastructure, business support services, pre-acceleration programs for DigiTech and MedTech companies and a collaborative environment to foster the growth and development of startups and innovative companies.

Vilnius Fintech Cluster https://www.vilniusfintechcluster.com/ Vilnius Fintech Cluster is an initiative that brings together businesses, educational institutions, and government agencies in Vilnius to support and accelerate the growth of the fintech industry through collaboration, innovation, and shared resources.

Vilnius Tech Cluster https://vilniustechcluster.lt/ Vilnius Tech Cluster is an alliance in Vilnius, Lithuania, bringing together tech businesses, academic institutions, and government entities to promote innovation, collaboration, and technology development, boosting the local economy.

Sunrise Valley Science and Technology Park https://ssmtp.lt/en/ Sunrise Valley Science and Technology Park is a leading innovation center in Lithuania that supports technology-oriented startups and enterprises through facilities, resources, and collaboration opportunities.

Klaipeda Science and Technology Park https://kmtp.lt/en/home/ Klaipeda Science and Technology Park is a hub in Klaipeda, Lithuania, that fosters innovation by providing support services and facilities to science and technology startups and enterprises.

Laser and Engineering Technologies Cluster (LITEK) https://litek.lt/?lang=en is a collaborative network of scientific, academic, and business entities focusing on the development of innovative laser, optical, and engineering technologies.

Lithuanian Robotics Association https://www.ltrobotics.eu/ is an organization dedicated to promoting robotics technology and innovation within Lithuania. It serves as a platform for collaboration among businesses, educational institutions, researchers, and other stakeholders in the field of robotics.

Life Sciences Cluster https://thelifesciencecluster.no/about-us/ The Life Sciences Cluster is a collaborative network of companies, academic institutions, and research organizations that focus on the advancement and commercialization of biotechnologies, pharmaceuticals, biomedical technologies, and other areas related to life sciences.

Lithuanian cluster network https://klaster.lt/en/ The Lithuanian Cluster Network is a coordinated effort to facilitate collaboration, foster innovation, and enhance competitiveness among various industry clusters within Lithuania. This network acts as an umbrella organization that connects different clusters across a range of sectors including technology, life sciences, manufacturing, energy, and more.

 

Start-up Support Entities and Financing Entities:

Startup Lithuania https://www.startuplithuania.com/ Startup Lithuania is a national initiative aimed at fostering the growth of startups in Lithuania through resource provision, event organization, and networking opportunities with investors, mentors, and industry experts.

Innovation Agency Lithuania https://inovacijuagentura.lt/?lang=en is a national agency operating under the Ministry of Economy and Innovation of the Republic of Lithuania. It is designed to foster business and science collaboration and to support technological and innovative advancement across various industries in Lithuania.

Firstpick https://firstpick.vc/ VC fund and an accelerator for tech startups in the Baltics.

Rockit https://www.rockitvilnius.com/ is a prominent hub in Vilnius, Lithuania, that primarily focuses on fostering growth and innovation in the fintech and sustainable innovation sectors. It serves as a vibrant community for entrepreneurs, startups, and businesses that are dedicated to creating impactful solutions in finance, technology, and sustainability.

Lithuanian Business Angel Network https://www.litban.lt/ is a leading angel investor network in Lithuania, linking early-stage startups with seasoned investors. They offer assistance in fundraising, mentorship, and networking to support startup growth.

Business Angels Fund https://angelsfund.eu/ is a type of investment fund or network that pools capital from individual investors—known as “business angels”—to invest in startup companies. These investors not only provide financial backing but also offer their expertise, industry connections, and management advice to help young companies grow and succeed.

Investors’ Forum https://investorsforum.lt/en/ Investors’ Forum is a non-profit association uniting diverse investors such as angels, venture capital firms, and private equity investors. It offers a platform for networking, knowledge exchange, and collaboration within the investment community.

Tech-Park Kaunas accelerator https://www.techpark-accelerator.lt/ Startup accelerators like Tech-Park Kaunas Accelerator typically provide early-stage startups with practical training, mentorship, possibilities to attract funding from investors, and networking opportunities to help them grow and succeed.