The Lithuanian startup ecosystem 2021

ecosystem lithuania Feb 19, 2022

"2021 is a record year for the Lithuanian startup ecosystem and we believe itʼs only the beginning of exceptional growth.”

Roberta Rudokiene, Head of Startup Lithuania

“The Baltic region is becoming increasingly visible not only on the European startup map, but also worldwide. This is particularly notable considering the countryʼs size, and number of startups and unicorns per capita.

We are pleased to see that even during the pandemic, the majority of Lithuanian startups showed great resilience and managed to grow. The number of employees in Lithuanian startups rose by 15% in 2021, and their revenues and exports were up 192%, compared to the first half of 2020.

“It is no coincidence that Lithuanian startups are receiving increasing interest from foreign investors and large corporates: record investment exceeding €420 million has been raised this year, with 5 startup exits recorded. In addition, some of Lithuaniaʼs most successful startups are successfully bootstrapping and scaling worldwide without external investment. “We therefore believe that our  startup ecosystemʼs growth spurt is only just getting underway, with new records, new exits, and new unicorns in the near future.”

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