Applications Open for Startup Lithuania Accelerator Program powered by Plug and Play

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Sep 20, 2024, 03:00 ET

VILNIUS, Lithuania, Sept. 20, 2024 /PRNewswire/ -- Startup Lithuania has officially launched the third open call for applications for the Startup Lithuania Accelerator, powered by Plug and Play. The application period is now open and will run until November 1, 2024.

The Startup Lithuania Accelerator powered by Plug and Play consists of five accelerator batches over three years, including an annual Global Overseas Acceleration & Learning program (GOAL) in Silicon Valley. The program is designed to provide startups with immediate access to a global experience and an expansive international network.

"24 startups have successfully participated in the first two batches of the Startup Lithuania Accelerator, showcasing the tremendous potential of Lithuanian startups. For example, AQ22 developed cutting-edge AI assistants to optimize human work and earned a spot in the prestigious GOAL program in Silicon Valley. Similarly, Boop and Kloosive secured significant investments. These successes demonstrate how the accelerator transforms local innovators into global competitors," said Karolis Žemaitis, Vice-Minister of Economy and Innovation.

The program offers a range of benefits to participating startups. These include mentorship from industry experts, pitch polishing workshops, office hours with the Plug and Play team, and an Expo Day, where startups can present their innovative products or services to diverse potential investors and corporations from international markets.

Following the application period, the Plug and Play team will conduct a comprehensive evaluation of all applicants, presenting the top candidates to the Plug and Play Investment Committee for final selection. The selected startups will be announced at the Launch Event, held in Vilnius, Lithuania. All applicants will be informed of the selection outcomes, and selected startups will receive detailed information on the onboarding process, including incorporation under Lithuanian regulations.

Plug and Play provides extensive resources and support to entrepreneurs, serving as a bridge to key startup hubs, including Silicon Valley. The top participants from each batch are invited to join the Global Overseas Acceleration & Learning program at Plug and Play's headquarters in Sunnyvale, California.

"For any early-stage tech startup looking to scale globally, the Startup Lithuania Accelerator powered by Plug and Play is a golden opportunity," said Povilas Žinys, director of Plug and Play Lithuania.

Participants from previous batches have highlighted how the program accelerated the growth of their companies, increasing access to key corporate customers and investors.

"The mentoring sessions provided a solid foundation for developing robust strategies to scale the business," Deividas Celencevičius, CEO of Boop, whose startup won first place in the pitch competition of the Expo Day in June 2024, said.

"The opportunity to connect with the right entities – whether partners, investors, or fellow startups – has opened up avenues we had not anticipated. The sense of community within the batch has fostered a culture of mutual support and shared success," Viktorija Ramanauskaitė, CEO of Kloosive, another participant startup from the first batch, added.

During the application period, the program will host an online information session to address any questions potential participants may have. Details of this session will be announced on Startup Lithuania's social media channels.

For more information on the application process, please visit the program page.

About Startup Lithuania:

Startup Lithuania is a national startup ecosystem facilitator in Lithuania. Their goal is to grow a mature startup ecosystem and make Lithuania a startup hub for the Baltic and Nordic regions.

About Plug and Play:

Plug and Play is the leading innovation platform, connecting startups, corporations, venture capital firms, universities, and government agencies. Headquartered in Silicon Valley, we're present in 60+ locations across five continents. We offer corporate innovation programs and help our corporate partners in every stage of their innovation journey, from education to execution. We also organize startup acceleration programs and have built an in-house VC to drive innovation across multiple industries where we've invested in hundreds of successful companies, including Dropbox, Guardant Health, Honey, Lending Club, N26, PayPal, and Rappi. For more information, visit https://www.plugandplaytechcenter.com/

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SOURCE Plug and Play