At the end of last year, two Lithuanian startups – Biohifas and AQ22 – returned from a prestigious internship in Silicon Valley, USA. They took part in the GOAL programme of Plug and Play, the world-class accelerator. During the six-week programme, the participants radically changed the way they approached their startup goals and vision. Despite the fact that the programme required inner energy and strength, the results were remarkable – hundreds of useful meetings and thousands of contacts that can help open doors to international markets.

“Startups create global value for Lithuania – by operating in international markets, they strengthen the economy of our country and contribute to the creation of high added value. To promote internationalisation, we initiated the Plug and Play accelerator programme, which gave participants a unique opportunity not only to learn from world-class experts, but also to go to Silicon Valley, USA. During the trip, the startups established valuable contacts and improved their business development skills”, says Karolina Urbonaitė, Head of Startup Lithuania at Innovation Agency Lithuania.

Biohifas is learning to dream big

Biohifas, a food innovation startup, sees the Plug and Play experience and the GOAL internship in Silicon Valley as another step towards international business. Biohifas develops alternative proteins and uses mycelium fermentation to turn food waste into quality products. The company’s achievements have already attracted attention across the Atlantic.

“Startup Lithuania and the Plug and Play accelerator in Lithuania as well as the trip to the US have helped consolidate our strategic direction and plans. The team already knows its goal and how to operate in the international market, so once we develop the pilot prototype, we will know where to go and who to talk to in the USA,” says Tomas Byčkovas, CEO of Biohifas. According to him, during the programme, the company has established contacts with partners and has applied their technology in its laboratory, as well as received useful advice and investor contacts.

Silicon Valley is a place of ambition, which, according to the CEO, was one of the biggest challenges for the team. “We had to learn to dream big. Coming from Lithuania, we encountered cultural differences, but we realised that having big ambitions is an integral part of running a successful business,” points out Mr Byčkovas.

Participation in the programme has provided the Biohifas team with an experience of the global innovation atmosphere, as well as positivity, support and inspiration. Mr Byčkovas says that knowing that his company can create and develop alongside companies such as Anheuser-Busch, Asahi and Cargill gives him the impetus to think about international opportunities. “I want to encourage other Lithuanian startups to take part in such projects – it is not only a practical benefit, but also an invaluable experience,” concludes Mr Byčkovas.

AQ22 will focus on a global vision

Kotryna Kurt, one of the heads of AQ22, agrees that it is impossible to put a price on the Silicon Valley experience – it is like a rite of passage for a startup on an international scale. The company, which is developing an artificial intelligence (AI) based analytics platform, had the opportunity to work with mentors from the USA and Europe to prepare for the GOAL programme, while at the same time deepening its expertise in financial technology.

“The visit to Silicon Valley has fundamentally changed the team’s approach to startup goals and the vision that we can build a global corporation rather than a single-solution company,” says Ms Kurt. According to her, the internship lasted for 6 weeks, with a busy schedule, 1–2 meetings per day, over 100 remote meetings, and around 600 new contacts.

“It was a great training exercise in investor search – the calls and conversations helped us understand our strengths and opportunities,” states Ms Kurt. Early this year, AQ22 plans to actively seek investment to support its ambitious growth plans.

Despite the success, our stay in the US has not been easy. “The biggest challenge has been psychological – you always feel that everyone around you is working faster, more efficiently and better,” recalls Ms Kurt. She stresses that participation in such programmes requires inner energy and strength. According to Ms Kurt, Silicon Valley is not a place for the weak – it’s a place where you have to be ready to work day and night, not be afraid of challenges, and believe in your vision.

Startup ecosystem is growing

The head of Startup Lithuania notes that startups which participate in accelerator programmes such as Plug and Play or GOAL usually gain new momentum and motivation to improve their initial idea.

“Our startup ecosystem is maturing, but it is still young, so it is not only the technology that needs to be adopted, but also the mindset, culture and ambition. Startups receive mentoring from global experts in the early stages of acceleration, take part in creative pitch workshops and pitch their ideas to potential investors, which gives them the impetus to develop further,” says Ms Urbonaitė. 

The GOAL programme is part of the international accelerator programme implemented by the Startup Lithuania division of Innovation Agency Lithuania and Plug and Play. A total of five startup acceleration cycles are planned to be implemented in Lithuania until March 2026. Some of the best participants will have the opportunity to go to Silicon Valley in the USA under the GOAL programme. In the second acceleration cycle, 3 startups have already been selected for the trip to the USA – Greet, Elnora AI and Hoperfy – and they are planning their trip in the first half of 2025.

Plug and Play, a US company operating in more than 50 cities around the world, has a mission to drive innovation by connecting startups, businesses, capital funds, and government organisations. The company has invested in a number of successful global companies such as Dropbox, PayPal and N26. For more information about the accelerator programme in Lithuania, please visit the website.