EBRD and Swedbank join forces to support startup growth in Lithuania

By Dylan Bell

EBRD and Swedbank join forces to support startup growth in Lithuania

  • EBRD, Swedbank Lithuania and Startup Wise Guys partner to support startups in Lithuania
  • Hub to foster fintech and tech-focused innovative solutions
  • Strengthening the sector will help position Lithuania as a regional fintech leader

The EBRD is supporting Swedbank Lithuania in the development of a successful innovation hub that fosters technological solutions in the country and more widely in the region. The partnership was officially launched at an event in Vilnius today.

The hub will promote fintech and tech-centric innovation and contribute to Lithuania’s goal of becoming a leading regional fintech centre in Europe.

Through the partnership, the EBRD will facilitate start-up access to operational facilities, early stage funding and superior mentoring network as well as support the development of new initiatives at the hub.

Startup Wise Guys, a leading Estonia-based business-to-business accelerator in Europe, are also partnering with Swedbank to support the newly relaunched hub. They will seek to foster development by providing seed capital, office space and growth guidance.

ROCKIT’s predecessor, Rise Vilnius, was established in 2016 by Barclays Group Operations Centre Lithuania and now acquired by Swedbank with the aim to strengthen its contribution to the startup sector together with its partners.

The EBRD has been working in Lithuania since 1991 and to date has invested €877 million in 90 projects. Strengthening the global competitiveness of the country’s economy through engagement in advanced technologies as well as developing capital markets and the green economy are the EBRD’s priorities in the country.