Lithuania has 3 cities in the top 1000 and has a vibrant startup scene that ranks 17th within the competitive global top 20.
Lithuania’s startup scene remains stable in 2023 on the 17th position, having kept 3 cities in the global top 1000.
Lithuania has achieved inspiring milestones considering it has a relatively low population. The country has not only shown its unique voice in its foreign policy, but also managed to build a successful startup ecosystem. The relatively low cost of living in Lithuania and its skilled software developers give a positive boost to the national ecosystem. Fintech is a core industry focus in Lithuania, where constant innovation and the government’s easing of regulation, including a blockchain sandbox, is attracting major international players. One example is the UK-based fintech startup Revolut, which launched a licensed bank in Lithuania in 2020.
Lithuania’s fintech efforts also seem to be paying off, as a fintech report by our partners at Findexable ranked Lithuania 10th globally in 2021. Furthermore, according to Invest Lithuania,the Fintech headcount grew by 19% year-over-year in 2022, reaching 7,000 employees. But fintech is not the only sector providing good news. One booming sector with an international reach in Lithuania is life sciences — it’s the fastest growing in the EU with steady annual growth.
In 2022, Lithuania’s booming startup scene welcomed its second unicorn: Nord Security. This Vilnius-based cybersecurity firm raised US$ 100 million at a valuation of US$ 1.6 billion, making it Lithuania’s second tech unicorn after Vinted, and opening promising new development opportunities for Lithuania. The maturity of local startup ecosystems is reflected in the ways the community is self-organizing. In addition to numerous gatherings and events, Lithuania’s startup sector now has its own association – Unicorns LT, which seeks to accelerate ecosystem growth even further.
Fortunately for Lithuania, the public sector is extremely active in ecosystem promotion and development. With friendly business regulations, government support for funding, and an open data policy, Lithuania’s public sector has created an environment that nurtures startups. Startup Lithuania, the country’s one-stop shop for startups, is promoting a Startup visa catering to foreign entrepreneurs and allowing a temporary residence permit for up to a year. In addition, Lithuania boasts the Startup Employee Visa, an initiative that sets out to attract highly skilled workers. Other important startup ecosystem stakeholders are Go Vilnius, an organization that attracts innovation to its ecosystem, and The Kaunas University of Technology, which fosters and trains talent.
With more incentives for entrepreneurs and investors, it’s safe to say Lithuania’s startup ecosystem has much more potential for growth.
Understand our ranking methodology and get the latest insights on the startup ecosystems of 100 countries and 1000 cities around the world!
Lithuania is ranked within the top 20 startup ecosystems globally.
Lithuania’s startup scene is best represented in Marketing & Sales, Ecommerce & Retail, and in and Fintech.
|2023 National Rank & Change||City||Global Rank & Change||Total Score||Quantity Score||Quality Score||Business Score|
On our map, you can explore a total of 149 startups for Marketing & Sales.
In Eastern Europe, Lithuania's Ecommerce & Retail is in top 12. Lithuania has a concentration of about 110 of the region's total Ecommerce & Retail startups that are represented on our map.
Lithuania's Fintech is ranked 13th in the world. Our database contains 39 for this industry.
Apply to join hundreds of leading ecosystem developers and represent the Lithuania startup ecosystem at no cost.
Join Now! Startup Ecosystem Development is a dynamic topic that requires keeping up with the most innovative policies, developments, and practices in the global startup scene. To bring startup ecosystem developers around the world together and help them to network and share knowledge, we decided to launch the StartupBlink Ecosystem Development Community on Slack. In […]
Download the Barcelona and Catalonia Report Ecosystem Report
Download the Global Startup Ecosystem Index Unlock the full list of Influencers with the StartupBlink Pro Purchase Now Key Insights: US Entrepreneurs are in a much better position to become influencers The United States has 130 influencers, representing 80% of all influencers globally, mainly hailing from major cities such as San Francisco, New York, […]