Good times at TechCon SoCal in San Diego last Saturday where over 1,000 attendees gathered to dive deep into all topics startups, funding and ecosystem building. Karolis Karalevicius had the opportunity to speak about #Lithuania on two panels:
?? Advantages of Foreign Founders
?? Discovering Innovation in Emerging Tech Hubs
???? Lithuania is definitely punching above its weight on the global innovation stage, standing out amongst giants like Austin TX, San Diego, and Cincinnati. Thanks to Scott Fox ?? for moderating a lively discussion with fellow panelists Neal Bloom?? , Ashley Keating, Jason Scharf on building #innovation ecosystems. Also great chat with Yana Yasevich and Serhat Pala on the topic of foreign founders edge.
Here’s some thoughts he shared with the audience about Lithuania's unique journey:
?? Historically deep specialization in photonics – Lithuania went narrow and deep, building a robust ecosystem competence in laser technologies, resulting in 50+ photonics companies represented by Lithuanian Laser Association.
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?? It helps that nearly 1 in 3 Lithuanians graduate with STEM degrees! ????????resulting in talent spillover into software, biotech LithuaniaBIO & cybersecurity → Case in point: NordVPN, in close 2nd to the OG unicorn Vinted! ??
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?? A fintech powerhouse – Lithuania's government made smart, fintech-friendly regulatory moves, leading to 270 of ~1,000 startups being fintech-focused, ?being #1 in Europe in terms number of licensed electronic money and payment institutions in the EU??
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?? A thriving physical ecosystem – Events ?? like LOGIN, Startup Fair, and Life Sciences Baltics + hubs like Vilnius Tech Park & Tech Zity, Tech-Park Kaunas bring people together, creating real opportunities that down the road get their first checks from angels in global Lithuanian diaspora or Lithuanian Business Angel Network LitBAN, and those with traction getting larger checks ?? from groups like Practica Capital, Iron Wolf Capital, Nextury Ventures and Contrarian Ventures
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??? What’s next? To evolve from a budding star to a heavyweight like Estonia, Lithuania needs to experience some serious liquidity which will precipitate a more robust local angel & VC funding flywheel attracting even more talent and operators to ???? & InnoHub Lithuania is here for it! ??
#Lithuania #TechConSoCal #Innovation #Startups #Fintech #Photonics #Cybersecurity #VC #EmergingTech