Promoting Start-ups

The Ministry of Energy promotes start-ups in the energy sector.

Do you have an innovative idea that could be applied in the energy sector? Write us to [email protected]

In 2020, the first Cleantech Accelerator organised by Vilnius Tech Park and Startup Highway jointly with EIT Climate-KIC was established in Lithuania.

In addition to being trained by international experts, its participants will receive support for business development ranging between €10,000 and €50,000. This Accelerator is the first and the only one that does not request the company’s shares in exchange for participation.

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A programme under the title PowerUp! Challenge intended for start-ups and small and medium businesses is underway in Lithuania.  It has been organised by EIT InnoEnergy, a network for the promotion of sustainable energy innovation that annually invests over EUR 100 million in this area. Members of the programme can become participants in EIT InnoEnergy and receive advice and assistance in product development, etc. The Energy Start-up of the Year will be selected in the course of the programme.  

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Since 2019, two new acceleration funds that invest in start-ups at an early stage operate in Lithuania: Startup Wise Guys and 70 Ventures.

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A smart energy venture capital fund, with Ignitis Grupė being the investor and Contrarian Ventures being the manager, operates in Lithuania. The fund invests in start-ups that develop new technologies for the energy sector.

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GovTech Lab assists start-ups in participating in the Challenges initiative and in searching for potential investors and accelerators in both private and public sectors; those who present the best ideas are enabled to conclude state contracts.

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Last updated: 15-04-2020