First startup incubator in Lithuania

Kaunas university of technology in 2012 created business startup incubator named KTU Startup Space. 

Today KTU Startup Space is a community of Kaunas startups open to the general public, uniting teams seeking to develop innovative businesses from the very stage of the idea.

The incubator finds a place for both students developing products or services on the academic bench and older people who have already gained experience and knowledge in the work environment and have decided to turn to their own innovative business path. The most important thing in the KTU Startup Space community is ideas!

All teams working in the KTU Startup Space incubator are provided with a strong incubation program package, which consists of:

  • team coordination, counseling, mentoring,
  • free physical office 24/7,
  • expert – project support,
  • targeted, practical training and seminars,
  • assistance in finding partners and investors,
  • opportunities to communicate directly with researchers.

 

Incubation is implemented in 4 stages:

I stage – business idea development (3 months)

  • Business model selection
  • Business idea validation
  • Protection of intellectual property
  • Preparation of a business plan
  • Analysis of the competitive environment
  • Calculation of forecast financial flows
  • Team building
  • Pitch training

II stage – prototype development (3 months)

  • Prototype development
  • Prototype validation
  • Preparation of investment proposal
  • Attracting investments and concluding an investment agreement
  • Protection of intellectual property
  • Use of financial engineering instruments
  • Attracting grants from the EU and other funds
  • Strategic planning and management
  • Communication strategy
  • Investment search

III stage company development (3 months)

  • Significantly increases the number of sales and / or consumers.
  • Attracted investments and / or increased sales revenue
  • Vertical and / or horizontal market expansion
  • Intellectual property protection, patenting
  • Preparation of investment proposal
  • Investment search
  • Attracting grants from the EU and other funds
  • Development strategy development
  • Search for suppliers and customers, signing contracts
  • Team building

 

IV stage expansion of the company (3 months)

  • Implementation of the development strategy
  • Increasing the share of exports
  • International sales
  • Intellectual property protection, patenting
  • Attracting grants from the EU and other funds
  • Strategic planning and management
  • Involvement of business partners
  • Preparation of investment project
  • Investment search

Ideal conditions are created for general population especially youth to develop their business ideas. The last thing is motivation. Do you have it?

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Written by Aktivistas Team

21 October 2021

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