Startup Lithuania has opened applications for the third batch of the Startup Lithuania Accelerator powered by Plug and Play, a unique program designed to help early-stage tech startups grow and succeed globally. Applications are open until November 1, 2024, offering startups in Lithuania and Central Europe the chance to gain valuable mentorship, funding opportunities, and connections with international investors.

“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 website is open for applications from early-stage, tech-focused startups in Lithuania and Central Europe that want to establish operations in the country.

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.

Participants of past batches point out that the program boosted the growth of their startups, increasing access to corporate customers and investors: “The mentoring sessions provided a solid foundation for developing robust strategies to scale the business,” according to Deividas Celencevičius, CEO of Boop, 1st place in the pitch competition of the Expo Day in June 2024. “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,” mentioned Viktorija Ramanauskaitė, CEO of Kloosive, a participant startup of the 1st batch that has recently secured capital from Plug and Play.

Startup Lithuania and Plug and Play both aim to create opportunities for early-stage startups to grow, secure venture capital, and enhance their global market presence,” stated the Head of Startup Lithuania at Innovation agency Lithuania Karolina Urbonaitė. “We will collaborate to help promising startups fulfill their vision and broaden their impact.”

After the call for applications, the Plug and Play team will thoroughly evaluate the applicant startups, presenting the most promising ones to the Plug and Play Investment Committee for final selection. The Launch Event for those chosen will be held on January 20 in Vilnius, Lithuania. All applicants will be notified of the selection results, and selected ones will receive details on the program onboarding process, which includes incorporation under the Lithuanian processes.

“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.

Plug and Play provides resources and support and is also a gateway to the world, as participants connect to other startup hubs, including Silicon Valley. The best participants in every batch are invited to the Global Overseas Acceleration & Learning program at Plug and Play headquarters in Silicon Valley.

During the call for applications, the program will host an online information session to clarify any doubts potential participants may have, which will be announced on Startup Lithuania’s social media channels.