In the dynamic and ever-evolving world of startups, finding the right platform for growth and development can make all the difference. Biohifas, a startup dedicated to developing fungal fermentation technology to transform industrial food by-products into nutritious food, has found such a platform with the Startup Lithuania Accelerator powered by Plug and Play. We had the pleasure of speaking with Tomas Byčkovas, CEO of Biohifas, about their journey and the transformative impact of the accelerator program. 

Tomas Byčkovas highlighted the renowned reputation of Plug and Play as a significant factor in their decision to join the accelerator. “Plug and Play is a well-known brand. We trusted it would bring great knowledge and a network. Being accepted into the program it’s already a recognition to the potential of our startup”, Tomas shared. The startup and investor ecosystem was buzzing about Plug and Play, making it an opportunity too significant to overlook. 

Growth and Development Through the Program 

The Startup Lithuania Accelerator has been key in Biohifas’ growth journey. Tomas noted the inspiring impact of meeting international mentors, which encouraged the team to think globally. The supportive environment created by the accelerator management and fellow startups was also a key motivator. “The management of the accelerator and startups of the batch created a motivating and supporting environment. The opportunity to receive feedback about the product and the funding opportunities encouraged us to finish the prototype sooner,” Tomas explained. 

One of the standout achievements for Biohifas was being selected for the Plug and Play’s GOAL program to be held this fall in Silicon Valley. This opened up a tremendous opportunity to explore the US market, which could be pivotal for their growth. 

Beneficial Resources and Support 

Biohifas found the attitude and energy of the accelerator management to be exceptionally beneficial. “At the early stage of the startup, faced with many challenges, it was important to have outside people who believed in us,” Tomas emphasized. The experiential workshops, as opposed to purely theoretical ones, were particularly valuable for the team. 

The program exceeded Biohifas’ initial expectations in several ways. Being accepted into the GOAL program was an unexpected but welcome surprise. Additionally, meeting Seena Amidi, Managing Director at Plug and Play EMEA and discussing the alternative protein industry confirmed that Biohifas was on the right track. 

Long-Term Benefits of Continued Engagement 

Looking ahead, Biohifas sees significant long-term benefits from their continued engagement with the program. The Silicon Valley experience is expected to facilitate networking with corporate partners and investors in the US, providing a substantial boost to their growth and development. 

About the GOAL Program 

The GOAL (Global Overseas Acceleration & Learning) Program is a 6-week immersion experience into the Silicon Valley ecosystem, designed to enable early-stage tech startups to pursue business development, fundraising, and other strategic opportunities. Key elements of the GOAL program include daily workshops with subject matter experts, one-on-one mentorship sessions, startup founder story sessions, internal and external pitching and networking events, community-building events, and participation in the Plug and Play Summit. 

The main purpose of the GOAL program is to promote economic development through innovation, internationalization, and support for entrepreneurship with international partners like Startup Lithuania and the Innovation Agency of Lithuania. 

Biohifas’ participation in the Startup Lithuania Accelerator and the GOAL program exemplifies how targeted support and a robust network can propel innovative startups toward success. For emerging startups, this could be the beginning of an extraordinary journey filled with growth, learning, and boundless opportunities.