An international entrepreneurship incentive project “Futurepreneurs” which is taking place in Lithuania for the fist time has started registration of its participants. Young people are invited to implement their ideas of a dream business and create a start-up which could change the world. The project is implemented by the Sunrise Valley Science and Technology Park (“Saulėtekio Slėnio Mokslo ir Technologijų Parkas”), is partly funded by “Erasmus+” programme and is patronised by the Minister of Economy Mindaugas Sinkevičius. 

In addition to the business partners, the program and youth education in entrepreneurship has been joined by Vilnius University, Vilnius Gediminas Technical University, International Business School at Vilnius University, Public Enterprise “Versli Lietuva” and Agency for Science, Innovation and Technology of Lithuania. Besides, it is the first time when entrepreneurship incentive programme of this kind will be integrated in the studies program and provide students with opportunities to use the theoretical knowledge in setting up successful businesses. 

Everyone who is under 29

The project is patronised by the Minister of Economy of the Republic of Lithuania Mindaugas Sinkevičius who says that young people wishing to set up their own business have lots of ambitions and enthusiasm, but often seem to lack knowledge and experience.

“The youth usually lacks practical information about conducting business, market peculiarities and finance planning, and thus assistance from successful entrepreneurs and experienced mentors is of great significance. I am really glad that such projects take place and invite the youth to take advantage of it, because you’ll never know, maybe this project will help to discover the Lithuanian version of Elon Musk or Mark Zuckerberg,” says the Minister.

Young people between the age of 18 and 29 are invited to join the project. The project offers 4 coaching sessions conducted by experienced experts who will provide with all necessary know-how related to setting up a business as well as assign specialized tasks to the participants of the project. Each team of the young business creators will be supervised by experienced mentors who will help to explore the ideas and choose the right way to put it into action.

Specific problems will be solved

According to Laima Kaušpadienė, Head of not Sunrise Valley Science and Technology Park, the participants of the programme will experience creation of future businesses in various fields including fintech, information and communication technologies, defence and security, cleantech, transport and logistics.

To help the participants to think up the ideas of specific business, they will be presented with particular problems which are actually faced in the today’s business or by people and will be encouraged to find innovative solutions.

“Each task will lead the participants of “Futurepreneurs” step-by-step to the implementation of their ideas. The tasks aim at teaching the participants to plan their time appropriately and assign sufficient efforts to each of the start-up stages, so that the work is completed in due time, and there would be no need for one more last night, as often happens to the students,” tells L. Kaušpadienė.

Donatas Keras, Partner of “Practica Capital”, states that innovations are a better and more effective way to perform various processes.

“In business it means creation of new processes and products, optimisation of activities and improvement of services. All these things help to achieve better results and ensure a successful business in the long run. The innovations that have effect on our environment are of great importance because they induce social responsibility and also have direct impact on the effectiveness of business and its results. Those who create a business of changes should consider all the details, even such as recycling of packaging or what will be done with the unsold products,” says D. Keras.

Knowledge will be shared with the young entrepreneurs by Bram Van Schijndel and Coen Faber from environment-friendly company “Pure Birds” (the Netherlands), Arvydas Bložė and Jean-Baptiste Daguene from “”, Partner of “Practica Capital” Donatas Keras, Aurimas Navys, Counsellor from Defence and Security Industries Association of Lithuania and many other experienced specialists.

Project can be joined from any place in the country

Young people from all over Lithuania are invited to join the project; those who will not be able to come to Vilnius to take part in the training, will be able to watch lectures online in the project website or watch them at any later time, whereas communication and work with mentors will be done in remote way. 

The Launch Day presenting the “Futurepreneurs” project will take place in Life Sciences Centre of Vilnius University (at Saulėtekio al. 7, Vilnius) on the 22nd of February. The participants will have to generate and ground their start-up ideas until the 3rd of May and then will make presentation of their business ideas. All project participants will be awarded certificates, and the winners of specific nominated categories will be awarded with special prizes of the sponsors.

The following entities are involved in the organisation of the project: UAB “Tieto Lietuva”, Defence and Security Industries Association of Lithuania, venture capital group “Practica Capital”, business accelerator “”, “LinkMenų Fabrikas” of VGTU, “Swedbank”, “Callcredit Information Group” and “Civitta”. Knowledge and advise will be shared by partners from “Pure Birds” in the Netherlands, as well as representatives from Agency for Science, Innovation and Technology of Lithuania, Lithuanian Innovation Centre, Baltic Environmental Forum Lithuania, Knowledge Economy Forum and Public Enterprise “Versli Lietuva”.

Information partners “BZN Start”, ZIP FM and Startup Lithuania”.