Dealroom – Lithuania startup report, 2023

In the report by Dealroom's Lithuania startup for 2024, it is highlighted that Lithuania has maintained its position as the fastest-growing startup ecosystem in the Baltic region. In 2023, Lithuanian startups raised €292 million, and the combined enterprise value of these startups has grown 7.1 times between 2018 and 2023. This growth rate surpasses the CEE growth average of 3.6 times and the Baltics growth average of 2.7 times. The report also reveals that Lithuania ranks second in CEE for VC investment in 2023 and second for VC investment per capita. The most funded industries in Lithuania are Enterprise Software, Security, and Energy. Vilnius, the capital of Lithuania, plays a significant role in the country's startup ecosystem, accounting for 91% of the combined enterprise value of Lithuanian startups. The key sectors in Vilnius are Fintech, ICT, GameDev, Biotech, and Laser tech. The report mentions Startup Lithuania, a organization that aims to support Lithuanian startup founders through various initiatives such as workshops, acceleration programs, consultations, and support schemes. Startup Lithuania is part of the official public agency - Innovation Agency Lithuania, which focuses on Lithuania's business competitiveness. Other organizations highlighted in the report include Practica Capital, an early-stage VC firm that invests in Baltic entrepreneurs, and TRINITI, a leading pan-Baltic legal advisory firm with expertise in startups, M&A, and private equity. Lastly, Vilnius TechFusion is mentioned as a brand representing the city's leading technology sectors and is developed by Go Vilnius, the official development agency of the capital. Dealroom.co, the company presenting the report, is a data provider that specializes in startup ecosystems in Europe and around the world. They work with prominent investors, entrepreneurs, and government organizations to provide transparency, analysis, and insights on venture capital activity.