The self-titled “G-spot of Europe”: Lithuania’s startup ecosystem at a glance
If you’ve ever had the chance to walk through the magical streets of Vilnius’ medieval old town and meet the locals, it’s easy to understand why Lithuania’s capital has been marketing itself as “The G-spot of Europe – Nobody knows where it is but when you find it—it’s amazing.” since 2018. Although primarily aimed at tourists, this slogan also rings true for a growing number of foreign investors and founders, who are ready to follow in the steps of the country’s first tech unicorn.
Lithuania’s startup ecosystem, which barely existed 10 years ago, has already made it into many high rankings in the startup world, taking the world’s 11th place for ease of doing business and 2nd place for procedures to start a business, according to the 2013–2019 analysis by Dealroom.co. Moreover, in the Tech cities of the future 2020/21 report, Lithuania’s capital is ranked in the top 10 in two categories: cost-effectiveness and FDI performance.