January's newsletter is here: prepare to be amazed! 😉

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January, 2024

In this month's newsletter, we're thrilled to share some of the latest news and updates from Vilnius TechFusion.

January Rewind: Dive into the Highlights of Vilnius’ Tech Scene

We kicked off the new year in style with the our tech ecosystem’s biggest annual event – the Vilnius TechFusion Startup Awards 2023, proudly hosted by the dream team of Go Vilnius, Unicorns Lithuania and Sunrise Tech Park.

The coveted Startup of the Year trophy found its new home with PVcase, who also snagged the Tech for Good award. We had a star-studded line-up of winners, including Plug and Play Tech Center as the Newcomer of the Year, Ovoko shining as the Rising Star and RatePunk claiming the title of the Public's Favourite. Tomas Okmanas and Eimantas Sabaliauskas were hailed as Ecosystem Heroes for their contributions, and they also stole the show as Tesonet Co-Founders, securing the Highlight of the Year award for bringing Cyber City to life in Vilnius.

Curious to know what other thrilling tales January had in store? We're about to dive headfirst into the standout moments of the month and rev up for a line-up of upcoming events!

Main Headlines

Oxylabs predicts a game-changing 2024 for the web intelligence industry

The big data market has been on a growth spree, poised to reach a staggering $103B by 2027. Progress in artificial intelligence and machine learning is supercharging this surge. Oxylabs predicts a whirlwind of legal cases in the scraping arena, all set to bring clarity to murky legal waters.

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Fintech: unpacking 2023's wins and 2024's thrilling prospects

Lithuania is frequently hailed as a frontrunner in Europe's fintech sector, with fintech firms now ingrained in the daily lives of many. In 2023, Lithuanian fintech enterprises extended payment services to 27M customers throughout the EU, translating to one of every ten Europeans.

Get the insights

Last year, Lithuania's startups secured the top 10 investments

2023 brought some twists to Lithuania's startup scene. While the number of startups securing investments dropped by 30% compared to the previous year, the average investment per startup skyrocketed to €10M. In total, investments in Lithuanian startups for 2023 amounted to €272M.

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Unlocking success: tech startups grow with business angel support

In 2023, members of Lithuanian Business Angel Network poured their support into startups with 375 investments, a remarkable increase of one-third over the previous year. The average investment per business angel in 2023 stood at €28K, aligning perfectly with the European average.

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MELP scores an investment from Coinvest Capital and business angels

MELP, a cutting-edge tech startup, has secured an investment of €635K to fuel its international expansion. With the support of Coinvest Capital and business angels from Lithuania and the UK, they are set to take their digital well-being management platform worldwide.

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Kilo Health unveils €500K investment business incubator

The Vilnius-based powerhouse is launching their incubator this February. It's a whirlwind two-month challenge where handpicked participants will turn startup concepts into reality. The most promising ideas could not only snag financial backing, but also a coveted spot on the team.

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Prof. Virginijus Šikšnys on CRISPR-Cas9 technology breakthroughs

11 years ago, Prof. Virginijus Šikšnys and his team unveiled the gene-editing marvel, CRISPR-Cas9, and today, the impact of this revolutionary technology is unmistakable. The UK has now made history as the pioneer of CRISPR-Cas9-based therapies for treating inherited diseases.

Dive into the details

Neurotechnology triumphs with trusted voter registry for elections in Liberia

Neurotechnology brought the thunder with its biometric solutions for the National Elections Commission of the Republic of Liberia. From the pre-registration phase and voter registration, to the showdown of registry clean-up and final voter list. The result? 2.5M voters successfully registered.

Get a glimpse

Sector Leaders

Meet Daugirdas Jankus

In our conversation with Daugirdas Jankus, the new CEO of the Hostinger group, he discusses the journey of building a thriving business in today's fast-paced world.

Get ready to take a sneak peek behind the startup scenes as he shares the 10 absolute must-follow work principles that keep him on the cutting edge. Don’t miss out!