The Strongest Kaunas Startups Have Been Chosen
An intensive two month entrepreneurship programme was rounded off with the ‘Demo Day’ – the final Kaunas startups programme event on 16th December in Kauno Dokas. For eight weeks selected teams deepened their knowledge of the most important steps of creating an innovative business: how to position your idea, understand the value to the client, make sales, use digital marketing tools effectively, prepare for meetings with investors.
Investors and representatives from IT companies and startups were among those in the audience of almost a hundred who witnessed 14 startups presenting their products to a jury of experts. The best teams received prizes worth more than 20 000 euros.
The jury – 12 most influential startup ecosystem representatives
The presentations lasted three minutes each and the teams had to give an overview of the consumer problem that their product solves, the progress they had made, the projection of their business growth and later answer difficult questions from the jury. There were twelve members in the jury who assessed the startups’ presentations – venture capital funds ‘Practica Capital’, ‘Startup Wise Guys’, ‘Baltic Sandbox’, ‘Katalista Ventures’, representatives from the strongest IT companies -‘Telesoftas’, ‘NFQ’, ‘DevBridge’, ‘Aciety’, consulting company ‘Civitta’, that is also implementing the program, representatives from law firm ‘JurisConsultus’.
Startup ‘Ninedou’, that is developing a marketing tool for advertising in the Chinese market, was awarded third place. The jury recognised a solid need for such product and the team’s experience working in China. Team ‘Virtual racing’, creating a virtual reality program which allows to experience the adrenalin of racing in a modified car, won the second place. The greatest appreciation went to team ‘Brite’ who were invited to the final event during other gatherings. This team put up a natural ingredients based energy drink.
Also, the special prizes from ‘Aciety’, ‘NFQ’ and KTU went to teams ‘Zowo app’, ‘Salerenginiui.lt’ and ‘Viaviz’.
The social capital and knowledge are appreciated the most
When the participants of the programme gave feedback about it, they unanimously agreed that the most significant added value is the mentors who they met during the programme and still consult when developing their businesses. ‘To meet so many mentors who look at your idea from a different angle and generously give objective advice is a priceless experience’ the members of the pre-accelerator share their impressions.
The great surprise of the final event was the alumni of the 2018 programme who shared their experience about the benefits of the accelerator and the results they achieved thanks to the programme.
‘I spent five months recreating and redoing the product. Thanks to Kaunas accelerator we got in the ‘Startup Wise Guys’ programme, we attracted financing. The most substantial benefit was that I met a great deal of wonderful people with great ideas, I met the Baltic region startup community’ Justas Šidlauskas, startup ‘Dear deer’ founder.
‘The programme gave me a great experience and understanding how the business works. During the programme you get a lot of knowledge which you then try to adapt to your own business‘ Juozas Proškevičius, the founder of startup ‘Stay in Charm’.
‘Kaunas startups’ programme was initiated by ‘Kaunas IN’, implemented by business consulting company ‘Civitta’, together with partners – startup support organization VšĮ ‘Startup Division’ and risk capital fund ‘Startup Wise Guys’. Programme is financed by Kaunas city municipality.