Lithuanian from New York is attracting investments for Baltic startups: “Innovative startup ideas have no geographic limits”

A two-month-long International Business Pre-acceleration Program Evolut 4.0 hosted by Kaunas Science and Technology Park ended this week. A total of twelve teams from Lithuania, Poland and Serbia graduated from the program and improved their startups. Entrepreneurship experts with many years of experience under their belt gave lectures during nine sessions. On the last day of the event, all startups received feedback about their business presentations from nine seasoned investors who took part in the virtual Demo Day.

Baltic startups not bold enough to step into other markets

At the final event of Evolut 4.0, Inga Klimašauskienė, co-incorporator of the Baltic American Chamber of Commerce and member of the Evaluation Committee, stated that the startups most often lacked a broader viewpoint on a global scale. Such was her assessment of the general ecosystem of the Baltic startups.

“So far, all the Lithuanian, Latvian and Estonian startups seem to target several European countries at best. Only having rooted in here, they would perhaps start thinking about the US or Asian markets. However, innovative startup ideas usually have no geographic limitations and can be implemented globally today. We would like to see the Baltic entrepreneurs show more boldness, ambition and courage to step into the international markets,” said I.Klimašauskienė, member of the Demo Day jury. She also noted that during their pitches, innovators often failed to show return on investment, which might be the cause of slow investments.

Read full article here at 15MIN.LT EN