Plug and Play, the international start-up accelerator known worldwide as the creator of the innovation and investment ecosystem, has chosen Vilnius Tech Park for its first 480 sqm office in the Baltics. It is here that they will contribute to the growth of 60 innovative start-ups over two years.
„According to Plug and Play, the location was chosen for its activities for a reason.
„This is the largest centre for technology start-ups in the Baltics and Northern Europe. Networking opportunities with thousands of ICT staff, large rooms and event spaces are all we need for our accelerator programme to thrive. And of course, the beautiful Sapiegas Park also makes for an attractive working environment,“ says Raimondo Pili of Plug and Play.
The accelerator plans to attract at least 60 start-ups over five phases, grow them and invest in the majority of them - two thirds. The first round has already taken place, with the first group of more than 200 startups selected.
„This partnership, I am sure, will have very significant consequences for the Lithuanian startup ecosystem - Plug and Play's successful international activity proves that they are not only able to select the startups with the best ideas, but also to grow them. Having this company here at Tech Park is a huge benefit for our entire community. I think that just interacting with the start-ups in the vicinity will create new and unexpected results that even Plug and Play itself does not predict,„ says Darius Žakaitis, CEO of Tech Zity, which runs Tech Park.
Plug and Play sees the Lithuanian start-up ecosystem as having a high growth potential, despite some structural challenges. The company's launch in the Baltics marks an important step for both the region's technology sector and Plug and Play itself, demonstrating mutual trust and commitment to fostering innovation and international business.
„Plug and Play is a leading innovation platform connecting start-ups, businesses, venture capital funds, universities and government organisations. The company is headquartered in Silicon Valley, USA, but operates in more than 50 locations on five continents. “Plug and Play offers corporate innovation programmes and supports its partners at all stages of the innovation journey, from education to implementation. The company also runs start-up accelerator programmes and has set up a venture capital fund to foster innovation across industries.
„Tech Zity manages four start-up, technology and creative industries locations in Vilnius - Tech Park, Tech Arts, Tech Loft and the future largest technology and creative industries campus in Europe, Tech Zity Vilnius, currently under construction in Naujamiestis. The company also owns Tech Spa, a workplace project in Druskininkai.
