Lithuania’s startup ecosystem is currently growing at the fastest pace in Central and Eastern Europe, according to a review initiated by Startup Lithuania and based on Dealroom.co data. ISM University of Management and Economics also plays a notable role in this growth.
When startup ecosystem performance is measured per 1,000 students, ISM University of Management and Economics stands out in Lithuania with the highest indicators for alumni-founded startups, founders who have raised more than €10 million in investment, and unicorns founded by its alumni.
“Although we are a relatively small university, the impact of our alumni on Lithuania’s start-up ecosystem is quite significant – they are building internationally competitive businesses, attracting investment, and creating long-term value. For the University, this serves as confirmation that the competencies we develop and our approach to entrepreneurship are effective in practice,” says Prof. Dr Dalius Misiūnas, Rector of ISM University of Management and Economics.
The review also highlights the overall growth of Lithuania’s startup ecosystem. Last year, Lithuanian startups raised €220 million in venture capital from 77 investors, with the largest funding rounds secured by companies such as Cast AI, nexos.ai and Atrandi Biosciences.
Lithuania also stands out for its ability to grow global companies without relocating their operational centres abroad. Only 26% of scaleups founded in Lithuania move their headquarters to other countries – the lowest share in the Central and Eastern Europe region. By comparison, this figure reaches 50% in Estonia and 70% in Latvia. In addition, Lithuania leads the region in the share of female-founded startups: 11% of startups in the country are founded by women, exceeding both the Central and Eastern Europe and European averages.
