Futurepreneurs won the national selection of European Enterprise Promotion Awards

Two of the best Lithuanian entrepreneurship promotion projects – the “Futurepreneurs” project of the Sunrise Valley Science and Technology Park and the “Entrepreneurship Academy” project of the Business Practitioners Centre of PA Vytautas Magnus University – have won the national selection of the competition on the European Enterprise Promotion Awards initiated by the European Commission and carried out by the Ministry of Economy of the Republic of Lithuania. The participants in these projects have already officially launched the startups.

These initiatives, together with projects of other European countries, will take part in the final stage of the European Enterprise Promotion Awards competition, where they will compete for the winner’s title at the European level. The best European entrepreneurship promotion projects will be awarded in Grace (Austria) on 20th November of this year.

“Entrepreneurship promotion programs not only provide young people with knowledge and experience, but also bring tangible results. Participants of the programme “Futurepreneurs” have already launched startups in the area of renewable energy sources, and a social innovation company will be established in the near future. Graduates from the Entrepreneurship Academy are also involved in the development of new, innovative businesses. Thus, such programs contribute to the growth of the country’s startup ecosystem,” says Minister of Economy Virginijus Sinkevičius.

The winners of the European Enterprise Promotion Awards competition will be selected from 32 European countries selected in the following nominations of national selection winners: “Promoting the entrepreneurial spirit”, “Investing in entrepreneurial skills”, “Improving the business environment”, “Supporting the internationalisation of business”, “Supporting the development of green markets and resource efficiency” and “Responsible and inclusive entrepreneurship”. Also a special prize will be awarded for the most creative and most inspirational business initiative.

The project “Futurepreneurs” of the Sunrise Valley Science and Technology Park has won the category “Promoting the entrepreneurial spirit” during the national selection. “Futurepreneurs” is an international entrepreneurship education program that motivates young people to create business ideas, work in teams and learn together with mentors of successful businesses.

During the process of implementation of the “Futurepreneurs” project, more than 750 of young people expressed their desire to become future entrepreneurs in Lithuania, 33 teams were assembled, 30 business mentors consulted the participants and 13 events were held. According to the established criteria, the teams were also evaluated and rewarded according to the categories of clean technologies, financial engineering, information technology, security and defence, the best sustainable ideas and the best prototype. The initiative attracted European Business Angels and Luxembourg Business Angels networks’ attention.

The project “Entrepreneurship Academy” of Business Practitioners Centre of PA Vytautas Magnus University won the category “Investments in Entrepreneurship Skills”of the national selection. “Entrepreneurship Academy” is a program for the development of entrepreneurial competencies, which encourages cooperation among youth, educational institutions, business, municipalities and other partners. It provides young people with opportunities to develop, develop creativity, get acquainted with companies and organizations, their activities, and everyday problems.

Since 2015, more than 800 students and 300 pupils have attended the Entrepreneurship Academy. The network of over 70 partners was established, more than 50 problems submitted by enterprises and organizations were solved, more than 260 creative workshopstook place. In 2017, “Entrepreneurship Academy” was selected among the top 50 best practices in Europe and in the world in the field of university and business cooperation.

Press release in Lithuanian: http://ukmin.lrv.lt/lt/naujienos/ukio-ministras-verslumo-skatinimo-projektai-inicijuoja-startuoliu-kurima