Ambassador Darius Degutis opened a Lithuanian start-up event in Tel Aviv on
Tuesday. More than 70 Israeli investors and entrepreneurs came to meet a
delegation of 30 Lithuanian businessmen representing start-ups and the
Degutis welcomed such an active participation
of young Lithuanian businessmen and stressed that Israel is the very right place
for start-ups. The event would significantly contribute to further growth of the
Lithuanian-Israeli partnership, he said.
Tel Aviv, with its DLD
Innovation festival, was chosen as one of the main stop of the road show because
Israel was rated the second-best destination for start-ups in the world, after
Silicon Valley, in the 2012 ratings by the organization Startup
Lithuanian startups, operating in the fields of finance, health
care, 3-D technologies and other fields, see a huge potential in partnership
between Israel and Lithuania.
“Recently Lithuanian start-ups have been
refocusing from quantity to quality,” Dovydas Varkulevicius, director of the
department of entrepreneurship of the governmental agency Enterprise Lithuania,
told the audience. “The state is not only witnessing the development of mobile
entertainment applications, but also of innovative solutions aimed at improving
the quality of life. Venture- capital funds, business accelerators operating in
Lithuania and regular educational events provide a favorable environment for new
start-ups from foreign countries. Even the project Startup Lithuania Roadshow
involves Italians and an African resident, who have registered their business in
The event in Tel Aviv was a part of the Startup Lithuania
Roadshow project, the first-ever organized hunt for foreign investors and
Before coming to Tel Aviv, Lithuanian
start-ups visited Stockholm. Afterward, they will go to Berlin later this month
and to London in December.
The project participants pursue an ambitious
goal: to attract 11 million euros of foreign investment and to present the
Lithuanian start-ups’ ecosystem to foreign countries. The top 17 Lithuanian
start-ups were professionally selected for the road show by local and
international VCs, angel investors, accelerators and media representatives and
were trained by Lithuanian and foreign lecturers including Beth Susanne, Gigi
Wang and Frank M. Saviane.
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