All news, insights and events
All news, insights and events
All news, insights and events

InnoEnergy at Bilateral Forum on Sustainable Energy at Vilnius Tech Park Lithuania

Business Creation Manager  Raymond Meeuwsen represented InnoEnergy at Bilateral Forum on Sustainable Energy at Vilnius Tech Park Lithuania, which was part of the state visit of His Majesty King Willem-Alexander. On behalf of InnoEnergy, he gave a presentation about InnoEnergy and the start-up ecosystem in The Netherlands and participated in a work group session on energy start-ups.

Investing in Lithuanian start-ups

In Lithuania the number of energy-oriented startups has recently grown. A state-managed energy company group Lietuvos Energija (biggest energy company in the Baltic States) opened up a €5 million smart-energy-oriented venture capital fund that will invest into early stage startups. Its goal is to attract new ideas and external talents in the areas of smart grids, renewable resources, bioenergy, small generation, smart houses, large data and analytics, electronic services, as well as other energy-related solutions.

 

The fund intends to invest up to €1 million per year in startups. In the course of three years, the accelerator is expected to facilitate the development of at least 15 startups. In addition to funding, they are granted workspace at Vilnius Tech Park as well as access to a large network of experts and the infrastructure of Lietuvos Energija.

 

The operations of the fund are entrusted to the international and highly experienced team of Contrarian Ventures, which was selected out of five teams participating in the public tender. Stationed at Vilnius Tech Park, Contrarian Ventures consists of seven fund managers from Lithuania, the Netherlands and Israel.