7 out of 10 respondents define a startup as a company with an original or bold business idea and the potential to grow quickly in foreign markets. A growing number of women believe this. The number of people, who believe that the purpose of a startup is only to develop a business and sell it to investors, is decreasing.
"The way people see startups in Lithuania is rather limited. Respondents associate startups with a new activity and new beginnings (30%), a young business or entrepreneur (12%). However, startups are primarily companies that operate in high-value-added sectors, create innovative tech products and have very high growth potential. It is because of the sector they choose and the globally competitive services they develop that they are able to scale and become successful," says Inga Langaitė, CEO of Unicorns Lithuania.
According to Unicorns Lithuania data, there are a little more than 700 startups active in Lithuania, most of them in the following areas: internet software & services, fintech, e- commerce, artificial intelligence, and health and wellness.
Startups are primarily companies that operate in high-value-added sectors, create innovative tech products and have very high growth potential.
Over the last two years, the amount of taxes paid by Lithuanian startups has doubled, and the number of startup employees increased by a quarter. Today, almost 16,000 people work for startups, and the average salary exceeds EUR 3,000.
"Against the backdrop of a tense geopolitical environment and economic situation, the shortage of talent in start-ups remains acute. There are challenges in attracting investment and capital, but most of the profitable Lithuanian startups today continue to plan for stable team growth, and are mostly looking for experienced IT, marketing, engineering, partnership, sales and customer service specialists and managers," says Inga Langaitė.
As many as 77% of respondents would recommend or likely recommend working at a startup to a relative graduating from studies. 6 out of 10 Lithuanians would recommend IT studies and associate it with a successful and financially sound career.
The representative survey of Lithuanian residents was commissioned by Unicorns Lithuania and carried out in July by Sprinter Research. Total number of respondents – 1,013 (ages 18- 75).