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1、Geographical reporttemplateDecember 2022The Lithuanian startup ecosystem2022February 2023The Lithuanian startup ecosystem2022The Lithuanian startup ecosystem2022 reviewDesign neededBy building bridges between different ecosystem players,Startup Lithuania aims to help current and potential Lithuanian
2、 startup founders to start,grow and scale their businesses.We organize workshops and acceleration programs,give consultations,offer different support schemes for startups,present our ecosystem abroad and organize the main international startups event in Lithuania Startup FairStartup Lithuania is a p
3、art of official public agency Innovation Agency Lithuania Lithuanias business competitiveness partner in a global world.Practica Capital is an early-stage VC firm with the sole purpose of backing Baltic entrepreneurs.We have invested exclusively in tech potential in the Baltic States for the last 10
4、 years.We back great founders in their ambition in seed,selected pre-seed and Series A stages,and partnering with them as company builders.With more than 80m in AUM and over 50 investments to date,we have been lucky to partner with some of the global success stories from the region,such as PVcase,Tr
5、ansferGo,Interactio,Eneba,Ovoko,Montonio,CGtrader and others.Future-thinking and internationally recognized pan-Baltic legal advisory team with more than90 professionals ready to drive their clients to success by crafting the future on their terms.TRINITIs cross-border practice groups consist of exp
6、erienced law professionals and leadersin their field serving clients in 8 working languages as a one-stop agency in Estonia,Latvia and Lithuania.Go Vilnius the official development agency of the City of Vilnius provides visitors,investors,relocating talent,entrepreneurs and businesses with everythin
7、g they need to know about our city.Go Vilnius is behind initiative Vilnius TechFusion-a new brand representing the Lithuanian capitals business ecosystem,which is largely tech-oriented and driven by innovation and fusion of world conquering ideaDealroom.co is the foremost data provider on startup,ea
8、rly-stage and growth company ecosystems in Europe and around the globe.Founded in Amsterdam in 2013,we now work with many of the worlds most prominent investors,entrepreneurs and government organizations to provide transparency,analysis and insights on venture capital activity.National startup ecosy
9、stem facilitatorEarly-stage VC fund focusing on Baltic foundersPan-Baltic legal advisory firmOfficial development agency of the City of VilniusGlobal startup&venture capital intelligence platformPage/2 Page/3 UkraineLithuania is the fastest growing startup ecosystem in CEE.Ecosystem Value Growth2017
10、-2022Excluding megarounds,2022 funding has reached an all time high.VC Investment raised by Lithuania startupsVilnius HQ startups raised 93%of total investment in Lithuania.Selected sectors for Vilnius startup investmentKey takeaways.Lithuania is one of the fastest-growing startup ecosystems in Cent
11、ral and Eastern Europe since 2017.The combined enterprise value of startups HQd&founded in Lithuania has grown 16.8x between 2017 and 2022,against a CEE growth average of 4.2x.Progressive legal changes are being made to further support this rapid growth.Key takeaways.Lithuanian startups raised 295M
12、in 2022,their second best year on record.Lithuania ranks 6th among Central and Eastern European countries for 2022 Venture Capital investment,and 3rd for VC investment per capita.Security and Fintech are Lithuanias most funded industries.Vilnius HQd companies raised 95%of all funding raised by Lithu
13、ania HQd startups.With 740+startups&8B in combined ecosystem value,Vilnius alone accounts for 92%of the combined enterprise value of startups HQd in Lithuania.Key sectors are Fintech,ICT,Laser tech&Biotech.Ecosystem Value Growth M465MVC Investment raised by Lithuania startupsSelected Vil
14、nius HQ startups20222018202116.8x20172022 Value growth LithuaniaCroatiaRomania19.9x8.8x7.8xPage/4 Get the first edition hereConclusions from last years report.Theres untapped potential in Europes leading academic institutions.Closer collaboration neededto support Europes most promising Deep Tech sta
15、rtups.The next decade requires bottom-up streamlining and top-down strategic thinking.-Questions in this years report.Why notBut we also pointed out the untapped potential in Europes leading academic institutions and the need for closer collaboration between the different actors in the ecosystem to
16、support Europes most promising Deep Tech startups.The next decade in Deep Tech requires bottom-up streamlining and top-down strategic thinking.VC chasing food delivery deals%of investment going to Deep Tech stabilized but in absolute terms still means massive growth(in respect to before 2021)Deep Te
17、ch exits(SPAC mania in 2021,in some part good but also cancelled deals and some very poor performances)Why yesQuantum computing advances2021:IBM debuted its most powerful quantum system,code-named Eagle,with a 127-qubit processor-the first to break the 100-qubit barrier.Australian researchers have p
18、roven that near error-free quantum computing is possible,paving the way to build silicon-based quantum devices compatible with current semiconductor manufacturing technology.Nuclear fusionFeb 2022:The UK-based JET laboratory has smashed its own world record for the amount of energy.record-breaking 5
19、9 megajoules(MJ)of fusion energy,almost triple the previous 21.7 MJ record set at the same facility in 1997(still low amount though!)Space techStarlink internet for Ukraine etc Generative AIAug 2022:Dall-E moving to commercial,stable diffusion text to image generative ai launchQuestions in this year
20、s report?How is Deep Tech evolving?What is the state of European Deep Tech?Which are the emerging areas of Todays and tomorrow Deep Tech?How can we accelerate European Deep Tech further?We unlock potential in academia&scientific research?Source:Dealroom.co.Design doneBut we also saw VCs chasing food
21、 delivery deals,while the%of investment in Deep Tech has stabilized around 20%,which still means a massive growth in absolute terms(in respect to before 2021).We also pointed out the untapped potential in Europes leading academic institutions and the need for closer collaboration between the differe
22、nt actors in the ecosystem to support Europes most promising Deep Tech startups.These problem remains open and are central questions in this year report.How is Deep Tech evolving?What is the state of European Deep Tech?Which are the emerging areas of Todays and tomorrow Deep Tech?How can we accelera
23、te European Deep Tech further?Can we unlock the potential in academia&scientific research?Massive breakthroughs are accelerating on several frontsIn our 2021 report,we highlighted the huge potential for Deep Tech in Europe.Indeed,European Deep Tech had its best year with over$22B in funding and bill
24、ion dollar exits.Since then we also saw huge breakthroughs in key segments like quantum computing(with the first 100+qubit processor and near error-free quantum computing in silicon-based devices being proven),nuclear fusion(almost tripling the record for the amount of energy produced),space tech(St
25、arlink providing internet coverage to Ukraine,James Webb Space Telescope,new missions to the moon),generative AI(Dall-E moving to commercial uses,Stable Diffusion text to image generative AI launch,ChatGPT reaching 1M users in 5 days)and much more.We are still only scratching the surfaceLast year,we
26、 also pointed out the still largely unlocked potential in Europes leading academic institutions and the need for closer collaboration between the different actors in the ecosystem to support Europes most promising Deep Tech startups.These problem remains open and are central questions in this year r
27、eport.How is Deep Tech evolving?What is the state of European Deep Tech?Which are the emerging areas in Deep Tech?How can we accelerate European Deep Tech further?Can we unlock the potential in academia&scientific research?2022 was a year of turbulence for all businesses worldwide,and were very happ
28、y that the Lithuanian startup ecosystem showed great resilience.“We managed to face the challenges,adapt to the changing situation and keep up the pace.In 2022 our ecosystem experienced the rise of the second unicorn(Nord Security)and the biggest exit so far(Lithuanian startup MailerLite was sold fo
29、r EUR 84 million).Lithuanianstartups successfully attracted investment,hired talent(the number of employees in 2022 grew by 13%compared to 2021)and increased their sales.I believe that Lithuania is becoming a real hot spot in European startups its no wonder that foreigninvestors are calling our ecos
30、ystem a hidden gem.I would like to invite investors from all over the world to visit Lithuania and get to know our friendly,lively and growing startup ecosystem.”“Roberta RudokieneHead of Startup LithuaniaPage/5 ContributorsTable of contentsTo add someones photo,save the needed photo on your laptop.
31、Then right click on the dummy image-Replace image-Upload from computer.DESIGN CONTENTValue creation in 20222022 Investment updateHighlight on VilniusValue creation in 2022122022 Investment update3Spotlight on VilniusVenture capital in the Baltics11.Value creation in 2022Page/7 2.6BDESIGN 1.Take a sc
32、reenshot of the chart.2.Choose the correct slide layout(Horizontal haze if the chart background is grey.Horizontal reverse haze is the chart background is white.3.ALL NUMBERS+TEXT(axis labels,legend,values)must be added in Google Slides as text boxes.NOT as screenshots.Chart labels+legend font:Sourc
33、e Sans pro Normal 8-10ptChart title font:Source Sans pro Normal 10ptFootnote font:Source Sans Pro Normal 6ptSource:Dealroom.co.Sum of the valuations of all startups in the ecosystem.Using estimated valuations based on most recent VC rounds,public markets and publicly disclosed valuationsLithuania on
34、e of the fastest-growing Central and Eastern European startup ecosystems since 2017,growing 16.8x,against a CEE growth average of 4.2x.2017Value growth9.5B8.5B21.8B7.2B5.6B23.3B19.9x16.8x8.8x7.8x23.3x5.6x202219.9x16.8x8.8x7.8x5.7x5.6x2017Value growth20220.6B0.3B1.1B1.3B3.9B 5.6B Croatia 9.5B Lithuan
35、ia 8.5B Romania23.3B Ukraine7.2B Hungary21.8B CzechiaEcosystem value of fastest growing CEE ecosystemsGrowth 2017-2022Page/8 Lithuanian startups are now worth 9.5B,up 16.8x since 2017.2B4B6B9.5BCombined Enterprise Value of Lithuania HQ&founded startups founded since 19900.6B16.3x200192020
36、2021To replace this image,right click on the dummy image-Replace image-Upload from computer.DESIGN CONTENT1.Take a screenshot of the chart.2.Choose the correct slide layout(Horizontal haze if the chart background is grey.Horizontal reverse haze is the chart background is white.3.ALL NUMBERS+TEXT(axi
37、s labels,legend,values)must be added in Google Slides as text boxes.NOT as screenshots.Chart labels+legend font:Source Sans pro Normal 8-10ptChart title font:Source Sans pro Normal 10ptFootnote font:Source Sans Pro Normal 6ptSource:Dealroom.co.Sum of the valuations of all startups in the ecosystem.U
38、sing estimated valuations based on most recent VC rounds,public markets and publicly disclosed valuations.The logo shown are not exhaustive but a discretionary selection of the companies of the category.20227.3BOnly 9%of Lithuanias combined enterprise value in 2022 is based abroad.Successful Lithuan
39、ian startups are less likely to relocate than CEE average -50%.8B Founded in Lithuania,HQ abroadHQ in LithuaniaNoord SecurityKevinOvokoLitilitTransfer GoCUJOCast AIWhatagraph10B HQ in Lithuania Founded in Lithuania,HQ abroad9%StartupsHQLithuaniaLithuaniaLithuaniaLithuaniaStartupsHQUKUSUSUSPage/9 The
40、 value of startups founded after 2010 has increased 2.3x since 2021,and now accounts for almost half the entire ecosystem.9.5BMost valuable companies HQ in VilniusCombined Enterprise Value of Lithuania HQ&founded startups per launch year view online2001920202021To replace this image,right
41、 click on the dummy image-Replace image-Upload from computer.1.Take a screenshot of the chart.2.Choose the correct slide layout(Horizontal haze if the chart background is grey.Horizontal reverse haze is the chart background is white.3.ALL NUMBERS+TEXT(axis labels,legend,values)must be added in Googl
42、e Slides as text boxes.NOT as screenshots.Chart labels+legend font:Source Sans pro Normal 8-10ptChart title font:Source Sans pro Normal 10ptFootnote font:Source Sans Pro Normal 6ptSource:Dealroom.co.Sum of the valuations of all startups in the ecosystem.Using estimated valuations based on most recen
43、t VC rounds,public markets and publicly disclosed valuations.20227.3BCohorts 2015-now 2010-2014 2005-2009 Before 2004 30%9%2B4B6B8BShare in 20222021 to 2022 YoY growth5.1B4.8B8%9%41%26%24%x0.9x1x2.7x1.9Page/10 To replace this image,right click on the dummy image-Replace image-Upload from computer.1.
44、Take a screenshot of the chart.2.Choose the correct slide layout(Horizontal haze if the chart background is grey.Horizontal reverse haze is the chart background is white.3.ALL NUMBERS+TEXT(axis labels,legend,values)must be added in Google Slides as text boxes.NOT as screenshots.Chart labels+legend f
45、ont:Source Sans pro Normal 8-10ptChart title font:Source Sans pro Normal 10ptFootnote font:Source Sans Pro Normal 6ptSource:Dealroom.co.The logo shown are not exhaustive but a discretionary selection of the companies of the category.*Includes companies which might have raised very little capital ove
46、r the years compared to their scale.Lithuanias breakout startups and rising stars.Exited under 1BUnicorns and 1B+exitsFuture unicorns200M-1BRising Stars Replace image-Upload from computer.DESIGN CONTENT1.Take a screenshot of the chart.2.Choose the correct slide layout(Horizontal haze if the chart ba
47、ckground is grey.Horizontal reverse haze is the chart background is white.3.ALL NUMBERS+TEXT(axis labels,legend,values)must be added in Google Slides as text boxes.NOT as screenshots.Chart labels+legend font:Source Sans pro Normal 8-10ptChart title font:Source Sans pro Normal 10ptFootnote font:Sourc
48、e Sans Pro Normal 6ptSource:Dealroom.co.2022200M400M0-1M(pre-seed)1-4M(seed)4-15M(series A)15-40M(series B)40-100M(series C)100-250M 250M+295M465MTop rounds in 2022 view online 250M Series FPage/15 Lithuania ranks 6th among Central and Eastern European countries for 2022 VC investment,and 3rd for VC
49、 investment per capita.DESIGN CONTENTSource:Dealroom.co.Top CEE countries for 2022 VC investmentVC investment in startups HQ&founded in CEETop CEE countries for 2022 VC investment per capitaVC investment in startups HQ&founded in CEE per capitaCzechiaCroatiaPolandRomaniaEstoniaBulgariaHungaryUkraine
50、SlovakiaLithuania295MLatviaSloveniaSerbia105CroatiaLithuaniaCzechiaLatviaEstoniaSloveniaSlovakiaHungaryRomaniaBulgariaPolandSerbiaUkraine1364M1000M789M632M336M236M177M169M136M97M64M41M343Page/16 Fintech is Lithuanias most funded industry,followed by Security,driven by investmen
51、t in Nord Security.Most valuable companies HQ in VilniusTo replace this image,right click on the dummy image-Replace image-Upload from computer.DESIGN 1.Take a screenshot of the chart.2.Choose the correct slide layout(Horizontal haze if the chart background is grey.Horizontal reverse haze is the cha
52、rt background is white.3.ALL NUMBERS+TEXT(axis labels,legend,values)must be added in Google Slides as text boxes.NOT as screenshots.Chart labels+legend font:Source Sans pro Normal 8-10ptChart title font:Source Sans pro Normal 10ptFootnote font:Source Sans Pro Normal 6ptSource:Dealroom.co.*Not consid
53、ered as an industry but as cross industry business model.More info here.Top industries for 2022 VC Funding in Lithuania FintechSecurityTransportationMarketplace&Ecommerce*EnergyFoodHealthtech&BiotechLaser tech118M94M24M23M8M7M5M4MVC Funding Growth since 2021+1523%+57%+61%-92%-65%+98%-56%-53%36%incre
54、asePage/17 In 2022,only 9%of the VC funding in Lithuanian startups came from Lithuanian investors.36%came from the rest of Europe and 35%from the US.To replace this image,right click on the dummy image-Replace image-Upload from computer.DESIGN CONTENT1.Take a screenshot of the chart.2.Choose the cor
55、rect slide layout(Horizontal haze if the chart background is grey.Horizontal reverse haze is the chart background is white.3.ALL NUMBERS+TEXT(axis labels,legend,values)must be added in Google Slides as text boxes.NOT as screenshots.Chart labels+legend font:Source Sans pro Normal 8-10ptChart title fo
56、nt:Source Sans pro Normal 10ptFootnote font:Source Sans Pro Normal 6ptSource:Dealroom.co.VC Investment in Lithuania startups by location of investorsSelected foreign investors active in 202220002225%50%75%100%Undisclosed HQ Rest of World Asia US European Domestic Lithuania Euro
57、pean United States Asia Rest of World Undisclosed Asia US EuropeanPage/18 Lithuanian investors are more active at earlier stages,contributing 36%of total early-stage investment in 2022.To replace this image,right click on the dummy image-Replace image-Upload from computer.DESIGN CONTENT1.Take a scre
58、enshot of the chart.2.Choose the correct slide layout(Horizontal haze if the chart background is grey.Horizontal reverse haze is the chart background is white.3.ALL NUMBERS+TEXT(axis labels,legend,values)must be added in Google Slides as text boxes.NOT as screenshots.Chart labels+legend font:Source
59、Sans pro Normal 8-10ptChart title font:Source Sans pro Normal 10ptFootnote font:Source Sans Pro Normal 6ptSource:Dealroom.co.VC Investment under 40M in Lithuanian startups by locations of investors Lithuanian European US Asia Rest of World Undisclosed 200022Selected 2022 rounds
60、 with Lithuanian investor participationLit CapitalIron Wolf CapitalPractica Capital70 VenturesContrarian Ventures50M150M200M169M94M100M Domestic investorStartupRound14M Early VC7M Early VC3.5M Series A1M Seed0.75M SeedPage/19 More than a third of startup funding in Lithuania comes from investors oth
61、er than venture capital funds,including corporates,CVCs,and family offices.DESIGN vCONTENT1.Take a screenshot of the chart.2.Choose the correct slide layout(Horizontal haze if the chart background is grey.Horizontal reverse haze is the chart background is white.3.ALL NUMBERS+TEXT(axis labels,legend,
62、values)must be added in Google Slides as text boxes.NOT as screenshots.Chart labels+legend font:Source Sans pro Normal 8-10ptChart title font:Source Sans pro Normal 10ptFootnote font:Source Sans Pro Normal 6ptSource:Dealroom.co.200022Top 2022 rounds with VC participation20%40%6
63、0%100%80%VC Investment in Lithuania startups by investor type Venture Capital Corporate OthersPage/20 Angel investment in Lithuania is growing.To replace this image,right click on the dummy image-Replace image-Upload from computer.DESIGN CONTENT1.Take a screenshot of the chart.2.Choose the correct s
64、lide layout(Horizontal haze if the chart background is grey.Horizontal reverse haze is the chart background is white.3.ALL NUMBERS+TEXT(axis labels,legend,values)must be added in Google Slides as text boxes.NOT as screenshots.Chart labels+legend font:Source Sans pro Normal 8-10ptChart title font:Sou
65、rce Sans pro Normal 10ptFootnote font:Source Sans Pro Normal 6ptSource:Dealroom.co.Tickets282Startup Investment per angel2.1Average ticket51KVilimed300K SeedHaslle568K SeedMoremins200K AngelMarkID300K SeedNo-CV250K Angelbenme120K AngelBreezit600K Seed Selected 2022 rounds with angel participation in
66、 Lithuanian startups Explore angel rounds in LithuaniaBusiness angel funding in numbersprovided by VilimedRound:300K SeedHaslleRound:568K SeedMoreminsRound:200K AngelMarkIDRound:300K AngelNo-CVRound:250K AngelBreezitRound:600K SeedInvested in 202214.5MStartups per angel 2.1Tickets282Average ticket51
67、kLaba7Round:640k SeedBoomioRound:250k SeedCambridge PhenotypingRound:610k Seed Up 1.4x since 2021benmeRound:100k AngelWalk15Round:400k SeedLitilitPage/21 Get the first edition hereConclusions from last years report.Theres untapped potential in Europes leading academic institutions.Closer collaborati
68、on neededto support Europes most promising Deep Tech startups.The next decade requires bottom-up streamlining and top-down strategic thinking.-Questions in this years report.Why notBut we also pointed out the untapped potential in Europes leading academic institutions and the need for closer collabo
69、ration between the different actors in the ecosystem to support Europes most promising Deep Tech startups.The next decade in Deep Tech requires bottom-up streamlining and top-down strategic thinking.VC chasing food delivery deals%of investment going to Deep Tech stabilized but in absolute terms stil
70、l means massive growth(in respect to before 2021)Deep Tech exits(SPAC mania in 2021,in some part good but also cancelled deals and some very poor performances)Why yesQuantum computing advances2021:IBM debuted its most powerful quantum system,code-named Eagle,with a 127-qubit processor-the first to b
71、reak the 100-qubit barrier.Australian researchers have proven that near error-free quantum computing is possible,paving the way to build silicon-based quantum devices compatible with current semiconductor manufacturing technology.Nuclear fusionFeb 2022:The UK-based JET laboratory has smashed its own
72、 world record for the amount of energy.record-breaking 59 megajoules(MJ)of fusion energy,almost triple the previous 21.7 MJ record set at the same facility in 1997(still low amount though!)Space techStarlink internet for Ukraine etc Generative AIAug 2022:Dall-E moving to commercial,stable diffusion
73、text to image generative ai launchQuestions in this years report?How is Deep Tech evolving?What is the state of European Deep Tech?Which are the emerging areas of Todays and tomorrow Deep Tech?How can we accelerate European Deep Tech further?We unlock potential in academia&scientific research?Source
74、:Dealroom.co.Design doneBut we also saw VCs chasing food delivery deals,while the%of investment in Deep Tech has stabilized around 20%,which still means a massive growth in absolute terms(in respect to before 2021).We also pointed out the untapped potential in Europes leading academic institutions a
75、nd the need for closer collaboration between the different actors in the ecosystem to support Europes most promising Deep Tech startups.These problem remains open and are central questions in this year report.How is Deep Tech evolving?What is the state of European Deep Tech?Which are the emerging ar
76、eas of Todays and tomorrow Deep Tech?How can we accelerate European Deep Tech further?Can we unlock the potential in academia&scientific research?Massive breakthroughs are accelerating on several frontsIn our 2021 report,we highlighted the huge potential for Deep Tech in Europe.Indeed,European Deep
77、Tech had its best year with over$22B in funding and billion dollar exits.Since then we also saw huge breakthroughs in key segments like quantum computing(with the first 100+qubit processor and near error-free quantum computing in silicon-based devices being proven),nuclear fusion(almost tripling the
78、 record for the amount of energy produced),space tech(Starlink providing internet coverage to Ukraine,James Webb Space Telescope,new missions to the moon),generative AI(Dall-E moving to commercial uses,Stable Diffusion text to image generative AI launch,ChatGPT reaching 1M users in 5 days)and much m
79、ore.We are still only scratching the surfaceLast year,we also pointed out the still largely unlocked potential in Europes leading academic institutions and the need for closer collaboration between the different actors in the ecosystem to support Europes most promising Deep Tech startups.These probl
80、em remains open and are central questions in this year report.How is Deep Tech evolving?What is the state of European Deep Tech?Which are the emerging areas in Deep Tech?How can we accelerate European Deep Tech further?Can we unlock the potential in academia&scientific research?The accelerating netw
81、ork and knowledge spillover effects,second-time founders,increasing startup top and mid talent pool,top-tier VC exposure to the region,a growing number of active Angel Investors and one of the best governmental policies globally are catalytic effects next to the actual capital efficiency of Lithuani
82、an startups.“Thanks to those,the Lithuanian tech ecosystem has reached an inflection point and will inevitably follow the trailblazer Estonia.Maturing ecosystem and ready-to-be-deployed capital create the foundations for future growth.And there is still a great deal of unrealized potential and,there
83、fore,a generational opportunity within the ecosystem.”“Donatas KerasFounding Partner at Practica CapitalPage/22 New funds raised in Lithuania.DESIGN CONTENT1.Take a screenshot of the chart.2.Choose the correct slide layout(Horizontal haze if the chart background is grey.Horizontal reverse haze is th
84、e chart background is white.3.ALL NUMBERS+TEXT(axis labels,legend,values)must be added in Google Slides as text boxes.NOT as screenshots.Chart labels+legend font:Source Sans pro Normal 8-10ptChart title font:Source Sans pro Normal 10ptFootnote font:Source Sans Pro Normal 6ptSource:Dealroom.co,*Estim
85、ations provided by the LTVCATickets282Startup Investment per angel2.1Average ticket51KHQ in LithuaniaInvestorFund size targetDateFocusPractica Capital70MDec 2022Marketplace,Saas,DeeptechContrarian Ventures100MAug 2022 Climate techBaltic Sandbox13MDec 2022 DeeptechFIRSTPICK20MNov 2022Sector agnostic,
86、Baltic Founders InvestorFund size target&DateFocus100M Aug 2022 Climate Tech70M Dec 2022 Marketplaces,Saas,Deeptech13M Dec 2022 Deeptech,Life Sciences20M Nov 2022 Sector agnostic,Baltic FoundersHIGHLIGHT ONLithuanian Private Equity and Venture Capital AssociationLithuanian Private Equity and Venture
87、 Capital Association 50 members:local VC and PE funds,family offices,limited partners,foreign partner funds,as well as main legal and financial consultants of the industry.Activities:Central platform for representation of VC&PE industryOrganizing and supporting main startup and investors events Poli
88、cy advocacy for proper national investment industry regulationEducation initiatives on VC&PE industry and entrepreneurship Total assets under management of local VC investors directed to Lithuanian and regional startups*337MNumber of VC Teams*11Newcomer InvestorFund size target&DateLocationFocus200M
89、Jan 2022 Taiwan HQ,Vilnius officeCEE startups,most significantly LithuaniaInvestorFund size targetDateFocusPractica Capital70MDec 2022Marketplace,Saas,DeeptechContrarian Ventures100MAug 2022 Climate techBaltic Sandbox13MDec 2022 DeeptechFIRSTPICK20MNov 2022Sector agnostic,Baltic FoundersInvestorFund
90、 size targetDateLocationFocusTaiwania Capital$200MJan 2022Taiwan HQ,Vilnius officeCEE startups,most significantly Lithuania InvestorFund size target&DateFocus70M Dec 2022 100M Aug 2022 Climate Tech13M Dec 2022 Deeptech20M Nov 2022 Sector agnostic,Baltic FoundersVenture capital in the Baltics13.Spotl
91、ight on VilniusPage/24 1.Take a screenshot of the chart.2.Choose the correct slide layout(Horizontal haze if the chart background is grey.Horizontal reverse haze is the chart background is white.3.ALL NUMBERS+TEXT(axis labels,legend,values)must be added in Google Slides as text boxes.NOT as screensh
92、ots.Chart labels+legend font:Source Sans pro Normal 8-10ptChart title font:Source Sans pro Normal 10ptFootnote font:Source Sans Pro Normal 6pt677+startups3 UnicornsVilnius startup sector in numbers.206M funding raised in 202293%of total funding raised by startups HQ in LithuaniaLigenceOxylabsDroplet
93、 GenomicsCasZyme8.3BEcosystem value92%of Lithuanias total ecosystem value8.3BEcosystem value92%of Lithuanias total ecosystem valueEcosystem value8Bof Lithuania HQ startups combined Enterprise Value92%NOW20180.5B8BStartups740+Unicorns3Funding raised in 2022227Mof total funding raised by startups HQed
94、 in Lithuania95%Explore Vilnius HQ startups Discover startupsVILNIUSSource:Dealroom.coNew Funds Raised160MPage/25 Get the first edition hereConclusions from last years report.Theres untapped potential in Europes leading academic institutions.Closer collaboration neededto support Europes most promisi
95、ng Deep Tech startups.The next decade requires bottom-up streamlining and top-down strategic thinking.-Questions in this years report.Why notBut we also pointed out the untapped potential in Europes leading academic institutions and the need for closer collaboration between the different actors in t
96、he ecosystem to support Europes most promising Deep Tech startups.The next decade in Deep Tech requires bottom-up streamlining and top-down strategic thinking.VC chasing food delivery deals%of investment going to Deep Tech stabilized but in absolute terms still means massive growth(in respect to bef
97、ore 2021)Deep Tech exits(SPAC mania in 2021,in some part good but also cancelled deals and some very poor performances)Why yesQuantum computing advances2021:IBM debuted its most powerful quantum system,code-named Eagle,with a 127-qubit processor-the first to break the 100-qubit barrier.Australian re
98、searchers have proven that near error-free quantum computing is possible,paving the way to build silicon-based quantum devices compatible with current semiconductor manufacturing technology.Nuclear fusionFeb 2022:The UK-based JET laboratory has smashed its own world record for the amount of energy.r
99、ecord-breaking 59 megajoules(MJ)of fusion energy,almost triple the previous 21.7 MJ record set at the same facility in 1997(still low amount though!)Space techStarlink internet for Ukraine etc Generative AIAug 2022:Dall-E moving to commercial,stable diffusion text to image generative ai launchQuesti
100、ons in this years report?How is Deep Tech evolving?What is the state of European Deep Tech?Which are the emerging areas of Todays and tomorrow Deep Tech?How can we accelerate European Deep Tech further?We unlock potential in academia&scientific research?Source:Dealroom.co.Design doneBut we also saw
101、VCs chasing food delivery deals,while the%of investment in Deep Tech has stabilized around 20%,which still means a massive growth in absolute terms(in respect to before 2021).We also pointed out the untapped potential in Europes leading academic institutions and the need for closer collaboration bet
102、ween the different actors in the ecosystem to support Europes most promising Deep Tech startups.These problem remains open and are central questions in this year report.How is Deep Tech evolving?What is the state of European Deep Tech?Which are the emerging areas of Todays and tomorrow Deep Tech?How
103、 can we accelerate European Deep Tech further?Can we unlock the potential in academia&scientific research?Massive breakthroughs are accelerating on several frontsIn our 2021 report,we highlighted the huge potential for Deep Tech in Europe.Indeed,European Deep Tech had its best year with over$22B in
104、funding and billion dollar exits.Since then we also saw huge breakthroughs in key segments like quantum computing(with the first 100+qubit processor and near error-free quantum computing in silicon-based devices being proven),nuclear fusion(almost tripling the record for the amount of energy produce
105、d),space tech(Starlink providing internet coverage to Ukraine,James Webb Space Telescope,new missions to the moon),generative AI(Dall-E moving to commercial uses,Stable Diffusion text to image generative AI launch,ChatGPT reaching 1M users in 5 days)and much more.We are still only scratching the sur
106、faceLast year,we also pointed out the still largely unlocked potential in Europes leading academic institutions and the need for closer collaboration between the different actors in the ecosystem to support Europes most promising Deep Tech startups.These problem remains open and are central question
107、s in this year report.How is Deep Tech evolving?What is the state of European Deep Tech?Which are the emerging areas in Deep Tech?How can we accelerate European Deep Tech further?Can we unlock the potential in academia&scientific research?Vilnius is the hub of Lithuanias tech and innovation communit
108、y and the fastest-growing city in the region.“Our city fosters what we call the Vilnius TechFusion ecosystem,which creates value through interactions between ICT,Fintech,Life Sciences and Laser companies.We had an exciting last year celebrating our newest unicorn,seeing how our startup community is
109、changing the landscape of our city and revitalising old neighbourhoods,and becoming more and more international with an increasing number of foreigners and greater cultural diversity.“Our citys population grew by more than 5%in 2022,and we are expecting to top 830,000 people by 2030,as we continue t
110、o be the fastest-growing city in the region.Our International House Vilnius project serves more than 1,000 operators every month and we are fuelling this growth with various“Move to Vilnius”campaigns.Today,we have an impressive 1,600 companies and more than 42,000 employees currently working in Viln
111、ius tech sector.Our ecosystem has always been noteworthy for bootstrapped growth,and I believe that next year will show how undervalued we still are.“Inga RomanovskieneGeneral manager at Go VilniusPage/26 Vilnius startups in Scan this QR code to explore the most funded Fintech companies110+startups
112、with a combined enterprise value of 537M.2022 a record year for VC investment with 66M raised,up 4.7x year on year.110+startups with a combined enterprise value of 526M.2022 a record year for VC investment with 64.4M raised,up 4.5x year on year.200202022 YTD202164.4MExplore Vilnius Fintec
113、h companies155+startups with a combined enterprise value of 5.6B,including 40+gaming companies with a combined EV of 138M.After a record 2021,91M raised in 2022.Selected Fintech Startups:Explore Vilnius ICT companiesSelected ICT Startups:Fintech:Kevin,TransferGo,Ondato,Heavy Finance,SME FinanceICT V
114、inted,Nord Security,Omnisend,Trafi,Kilo HealthVilnius startups in FintechICTTotal assets under management of local VC investors directed to Lithuanian and regional startups*110+startups11110+startups with a combined enterprise value of 537M.66MVC Funding raised2022 a record year for VC investment wi
115、th 66M raised,up 4.7x year on year.Selected Fintech Startups:Explore Vilnius Fintech companies157+startups157+startups with a combined enterprise value of 5.6B,including 40+gaming companies with a combined EV of 138M.91MVC Funding raisedAfter a record 2021,91M raised in 2022.Selected ICT Startups:Ex
116、plore Vilnius ICT companiesSource:Dealroom.co.Page/27 Scan this QR code to explore the most funded Fintech companies110+startups with a combined enterprise value of 537M.2022 a record year for VC investment with 66M raised,up 4.7x year on year.110+startups with a combined enterprise value of 526M.20
117、22 a record year for VC investment with 64.4M raised,up 4.5x year on year.200202022 YTD202164.4MExplore Vilnius Fintech companies155+startups with a combined enterprise value of 5.6B,including 40+gaming companies with a combined EV of 138M.After a record 2021,91M raised in 2022.Selected F
118、intech Startups:Explore Vilnius ICT companiesSelected ICT Startups:Fintech:Kevin,TransferGo,Ondato,Heavy Finance,SME FinanceICT Vinted,Nord Security,Omnisend,Trafi,Kilo HealthTotal assets under management of local VC investors directed to Lithuanian and regional startups*20+startups1120+startups wit
119、h a combined enterprise value of 11M.2.5MVC Funding raisedA record 2.5M raised in 2021.Selected Fintech Startups:Explore Vilnius Biotech companies30+startups30+startups with a combined enterprise value of 162M.3.5MVC Funding raised3.5M raised in 2022.Selected ICT Startups:Explore Vilnius Laser tech
120、companiesVilnius startups in Vilnius startups in BiotechLaser Techhttps:/ To replace this image,right click on the dummy image-Replace image-Upload from computer.DESIGN CONTENT1.Take a screenshot of the chart.2.Choose the correct slide layout(Horizontal haze if the chart background is grey.Horizonta
121、l reverse haze is the chart background is white.3.ALL NUMBERS+TEXT(axis labels,legend,values)must be added in Google Slides as text boxes.NOT as screenshots.Chart labels+legend font:Source Sans pro Normal 8-10ptChart title font:Source Sans pro Normal 10ptFootnote font:Source Sans Pro Normal 6ptMetho
122、dology and definitions.What is a startup?Companies designed to grow fast.Generally,such companies are VC-investable businesses.When startups are successful,they develop into scaleups(50 people),grownups(500 people)and result in big companies.Only companies founded since 1990 are included in this rep
123、ort.What is a unicorn?Unicorns are(former)startups that reached US$1B valuation or exit at one point in time.What is a startup?Underlying DataDealrooms proprietary database and software aggregate data from multiple sources:harvesting public information,user-submitted data verified by Dealroom,data e
124、ngineering.All data is verified and curated with an extensive manual process.The data on which this report builds is available via app.dealroom.co.For more info please visit dealroom.co or contact supportdealroom.co.Venture Capital,InvestorsDomestic investors refer to Lithuanian investors.Europe inv
125、estors includes the entire European continent,the UK and Russia,but excludes Turkey and Lithuania.Investment are referred to by their round labels such as Seed,Series A,B,C,late stage,and growth equity.VC investments exclude debt,non-equity funding,lending capital and grants.Scope of the reportWhile
126、 many startups founded in Lithuania relocate their HQ beyond its the borders,most maintain business-critical ties to their homelands.In order to take this reality into account,this report includes both Lithuania-based startups,which maintain their main center of business(HQ)in their country of origi
127、n,and Lithuania-founded startups,which relocated their HQ outside of Lithuania.What is a unicorn?Page/29 Source:Dealroom.co.Design doneBut we also saw VCs chasing food delivery deals,while the%of investment in Deep Tech has stabilized around 20%,which still means a massive growth in absolute terms(i
128、n respect to before 2021).We also pointed out the untapped potential in Europes leading academic institutions and the need for closer collaboration between the different actors in the ecosystem to support Europes most promising Deep Tech startups.These problem remains open and are central questions
129、in this year report.How is Deep Tech evolving?What is the state of European Deep Tech?Which are the emerging areas of Todays and tomorrow Deep Tech?How can we accelerate European Deep Tech further?Can we unlock the potential in academia&scientific research?Previous editionMassive breakthroughs are a
130、ccelerating on several frontsIn our 2021 report,we highlighted the huge potential for Deep Tech in Europe.Indeed,European Deep Tech had its best year with over$22B in funding and billion dollar exits.Since then we also saw huge breakthroughs in key segments like quantum computing(with the first 100+
131、qubit processor and near error-free quantum computing in silicon-based devices being proven),nuclear fusion(almost tripling the record for the amount of energy produced),space tech(Starlink providing internet coverage to Ukraine,James Webb Space Telescope,new missions to the moon),generative AI(Dall
132、-E moving to commercial uses,Stable Diffusion text to image generative AI launch,ChatGPT reaching 1M users in 5 days)and much more.We are still only scratching the surfaceLast year,we also pointed out the still largely unlocked potential in Europes leading academic institutions and the need for clos
133、er collaboration between the different actors in the ecosystem to support Europes most promising Deep Tech startups.These problem remains open and are central questions in this year report.How is Deep Tech evolving?What is the state of European Deep Tech?Which are the emerging areas in Deep Tech?How
134、 can we accelerate European Deep Tech further?Can we unlock the potential in academia&scientific research?The best way to meet the whole ecosystem and Lithuanian startups,to experience its vibe and potential,is to visit Lithuanias main international startups event Startup Fair.Adapt 2023 and investo
135、rs-only eventInvestors Camp as a part of it.Dates:67 September 2023Location:VilniusLearn more about Startup FairPrevious editionStartup Fair AdaptVilnius,67 September 2023The best way to meet the whole ecosystem and Lithuanian startups,to experience its vibe and potential,is to visit Lithuanias main international startups event Startup Fair.Adapt 2023 and investors-only event Investors Camp as a part of it.Learn more EVENTLearn more about Startup FairRead reportGet the first edition hereDiscover the most promising Lithuania companies on:map.startuplithuania.lt.dealroom.coPowered by