‘Demo Day’, the final event of the ‘Kaunas startups’ program, were held at Kaunas Dock on December 16. The event culminated a two-month intensive entrepreneurship program. For eight weeks, selected teams explored key business steps in developing innovative business: how to position an idea, understand the customer, make sales, effectively leverage digital marketing, and prepare for investor meetings.

At the event, which attracted nearly a hundred spectators, including investors, IT companies and various startups, fourteen startups presented their products to a competent commission. Prizes worth more than 20 thousand euros were distributed to the best.

The commission included 12 influential startup ecosystem representatives.

During three-minute presentation of the ideas, the teams had to present what consumer problem their products are solving, what work they had already done, what business growth forecasts are, and then respond to the commission’s provocative questions. A panel of twelve members, including representatives from ‘Practica Capital’, ‘Startup Wise Guys’, ‘Baltic Sandbox’, ‘Katalista Ventures’, ‘Telesoftas’, ‘NFQ’, ‘DevBridge’, ‘Aciety’, ‚Civitta‘, ‚JurisConsultus‘, evaluated startup presentations.

The commission awarded a startup ‘Ninedou’ a third place. This startup is creating a marketing tool that allows promoting in Chinese market. The evaluators identified a clear need for such product and startup’s team experience working in China. Second place winner was ‘Virtual racing’ team that are designing a virtual reality app that lets you experience the adrenaline of racing. The team ‘Brite’ that offers energy drink, based on natural ingredients, received the highest rating.

Also special ‘Aciety’ ,NFQ’ awards and prizes established by KTU were given to ‘Zowo app’, ‘Salerenginiui.lt’, and ‘Viaviz’ teams.

Social capital and knowledge are biggest value

Participants of the program, when evaluating the program, unequivocally stated that the greatest benefit is meeting mentors during the program. These mentors continue to consult business startup teams. ‘To meet so many mentors that are looking at your idea from the different angle and are giving you objective advices – that’s an invaluable experience’ – participants shared their experience.

The surprise of the closing event – the 2018 alumni of the program who expressed their appreciation of this program, its benefits and enjoyed the results achieved by participating in the program.

‘I spent five months redesigning and remodeling the product. Thanks to ‘Kaunas Accelerator’ we got into the ‘Startup Wise Guys’ program and managed to raise funding. The biggest benefit – I met many great people with wonderful ideas, I acquainted with the startup community of the Baltic region’ – Justas Šidlauskas, founder of ‘Dear deer’ startup, shared his experience.

‘The program gave me a very good experience and understanding of how the business works. During the program, you gain a lot of knowledge that eventually you apply to your businesses – shares Juozas Proškevičius, founder of ‘Stay in Charm’ startup.

The public institution ‘Kaunas IN’ initiated the ‘Kaunas Startups’ program. The program was implemented by the business consulting company ‘Civitta’ together with its partners the start-up support organization ‘Startup Division’ and venture capital fund ‘Startup Wise Guys’. The program in funded by Kaunas City Municipality.