On June 16, after more than two years of construction, the "Tech Hub" co-working space was opened at Vilnius University's Faculty of Economics and Business Administration (VU FEBA). Startups of the Tech Hub pre-accelerator managed by the Innovation Agency together with Vilnius University will gather and develop their ideas in the premises, various events, hackathons, conferences, workshops will be also organized there.
"I first heard the words Tech Hub three years ago, at that time the concept was unheard and still unclear as to what it actually meant. However, it is obvious that within three years this concept has become established in life and activities, and now - in spaces as well. This reveals the tendency and desire to integrate science, studies and business and to bring students back to the university - so that they not only participate in lectures and seminars, but also discover other new, meaningful activities here" - said VU rector prof. Rimvydas Petrauskas.
Many guests from the startup and innovation environment attended the event. Vice Minister of Economy and Innovation Vincas Jurgutis said that he was pleasantly surprised and inspired by the commotion of startups: "Lithuania's ambitions are impossible without creative, hardworking and educated people. We are slowly learning in Lithuania that if we want a breakthrough, the most important thing is communication and exchange of knowledge. We hope that many new businesses and investments will grow in these spaces".
VU FEBA dean prof. Dr. Aida Mačerinskienė commented: "These spaces confirm the fact that the 440th anniversary of the university not only commemorates the historical importance of the university, but is also a way to be modern." We are waiting for new business ideas to be born in these spaces".
During the event, pitch battles of the best Tech Hub pre-accelerator startups took place. During them, representatives of eight teams talked about the problem being solved by the developing start-up and the proposed solution, presented their team and achievements during three matches. A commission of three experts, taking into account the quality of the presentation and the potential of the startup, chose the winner of the battles.
Seqvision, a startup that participated in the fifth pre-accelerator cycle, won the best startup title. SeqVision has developed a solution for biotechnology laboratories working with plasmids, synthetic DNA molecules created by scientists. Plasmid DNA is a sequence of genetic information. Once this molecule is created, its correct sequence must be verified and confirmed. This is a tedious, time-consuming and reagent-intensive process. The startup's plasmid sequencing service facilitates this process by providing more sample information in less time and simpler sample preparation than other sequencing platforms.
The Tech Hub pre-accelerator VU Technology Port has been running together with the Innovation Agency for almost two years. This is a three-month intensive training for startups and those who want to establish them, during which teams acquire knowledge of business development, receive the help of mentors, constantly communicate with investors and business angels and can turn their idea into a minimal product.
Until now, the program has been conducted remotely, 110 startups from Lithuania and abroad have already completed it and another 20 are currently participating. Six pre-accelerator cycles were held over two years. The teams participating in the pre-accelerator consist of more than 300 people. Some of the startups, such as "benme", "Oxus.AI", "Curtains Calculator" and others, have already attracted investments from private funds or business angels, some of them have already participated in acceleration programs abroad, received funding from various EU support measures.
All pre-accelerator participants will be able to work and use the Tech Hub space. The university community and the entire innovation and start-up ecosystem will be invited to participate in various events related to the promotion of innovation and the promotion of entrepreneurship.
