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The Lithuanian startup ecosystem 2023 review

The Second annual report on the state of the Lithuanian startup and venture capital ecosystem, in partnership with Startup Lithuania, Practica Capital, Triniti Jurex and Vilnius TechFusion.

In brief:

• In 2023, Lithuania maintains its position as the fastest-growing startup ecosystem in the Baltic region.

• The combined enterprise value of Lithuanian startups has grew 7.1x between 2018 and 2023, double the average in the wider Baltic and CEE regions.

• Lithuania ranked 2nd in CEE by VC investment in 2023, ahead of Poland – Enterprise Software, Security and Energy are Lithuania’s most funded industries.

• Vilnius is responsible for 91% of all Lithuanian startup enterprise value, and 96% of 2023 Lithuanian startup funding raised.

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