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Start-up founders from Israel and Lithuania will now be able to move between the two leading technology start-up hubs in each country, receiving support and services in each country to boost entrepreneurs’ chances of success.

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Vilnius Tech Park
Vilnius Tech Park

The agreement between Sapiegos Tech Park in Vilnius and Hubanana tech hub in Ra’nana, rated as the No. 1 start-up hub in Israel, will create an ongoing start-up exchange programme between the two hubs for start-up companies.

Israeli startups will be able to move to the Sapiegos Tech Park in Vilnius, where they will get a free working space for up to two weeks plus use of the parks’ business development infrastructure and access to bespoke consultancy on legal issues, HR, communications, and EU Horizon 2020 funding for SME’s, plus many additional services.

Lithuanian start-ups in of the Sapiegos community will be able to stay in Hubanana tech hub and make use of the infrastructure and connections it offers to polish their ideas, look for investors or grow and develop their business. For Lithuania-based startups, it offers a unique opportunity to evaluate their business potential in one of the most developed startup ecosystems in the world.

“We have a dual role at Sapiegos Tech Park, we help local startups to grow internationally and we are a focal point for innovative companies entering the EU. This new partnership is ideal for meeting both of these objectives. It will open up new opportunities for our community to learn from the most advanced startup ecosystem globally and to create valuable new business connections. Furthermore, it enables us to assist Israeli startups in their journeys into Europe,” said Darius Zakaitis, Managing Director at Sapiegos Tech Park in Vilnius.

Importantly it will allow the more than 700 Lithuanian ‘start-uppers’ exchange and network with Israeli startups a unique opportunity to network and establish valuable business connections.

The partnership, signed during a joint Lithuania-Israel panel at the June Tech 2016 conference in Ra’nana, also includes measures for connecting the Israeli and Lithuanian startup ecosystems.

“A lot of our members are looking for new opportunities and to grow into the EU market,” said Idan Meir, Manager of Hubanana, believes that thanks to the new partnership with Sapiegos, Lithuania can become a first step for Israeli startups into the EU market.

“This can be a challenging step for a small company, but I am confident that our partnership with Sapiegos will make it easier for these talented entrepreneurs. They can simply go, establish connections and take further steps in confidence. Plus Lithuania is very competitive in comparison to Western Europe, as it has a business friendly environment and government policy focused on startup encouragement, and also offers unbeatable cost competitiveness.”

Founder of the Israel-Lithuania Technology Hub, Len Judes, which initiated and facilitated the partnership, said it is natural that business connections between Israel and Lithuania are growing.

“Lithuania has recently reached 13th position in the Index of Economic freedom, making it one of the most business friendly countries globally. It is also a global leader for internet speeds and its population is considered to be amongst the most IT-literate in Europe. Naturally, any company looking for a gateway to the EU should look at Lithuania”, said Judes.

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