TechFusion Awards Mark Continued Growth in Vilnius’ Tech Sector

Vilnius hosted the seventh annual Vilnius TechFusion Awards, recognising standout innovations, entrepreneurs, and startups shaping Lithuania’s tech ecosystem in 2025. The awards honoured companies across eight categories, reflecting the sector’s increasing scale and maturity.

The Lithuanian startup ecosystem now comprises more than 1,100 startups with a combined valuation exceeding €16 billion (approx. $19 billion). Over the last five years, the ecosystem has expanded nearly sixfold, attracting €220 million (approx. $262.9 million) in venture capital investment in 2025 alone. Vilnius has played a central role in this growth ranking third among regional capitals for venture capital attraction last year and emerging as one of the European Union’s fastest-growing tech cities.

The seventh Vilnius TechFusion Awards, held on January 30, reflected the ecosystem’s growing maturity, recognising leading startups and technology players across eight categories.

Sintra AI, which develops AI solutions for businesses, won the Early-Stage Star award, while entrepreneur Tadas Burgaila, behind several major startups, was named Ecosystem Storyteller of the Year. Atrandi Biosciences, a life sciences company, received The Bold Move award, and Fivrec, which reclaims materials from electronic waste, won the Tech for Good award.

Invest Lithuania, the country’s investment promotion agency, was recognised in the Ecosystem Partner category, while Vilnius Tech, a university leading in technology sciences, received the Science in Action award. The Talent Gateway award went to Western Union, a multinational financial services company, and nexos.ai, a platform supporting the adoption and management of large language models, was named Emerging Vilnius Ambassador.

Ecosystem driven by capital’s support

According to Gintarė Verbickaitė, CEO of Unicorns Lithuania – an association representing over 130 startups, tech companies, and the country’s unicorns – Vilnius supports startup growth not only through policy, but also via events and international visibility, consistently showcasing its tech ecosystem to global media, events, and strategic partners.

“Given the small size of the local market, Lithuanian startups tend to stand out for their global ambition from day one, developing solutions that are relevant internationally. Vilnius actively helps turn this ambition into reality by connecting founders to global networks, platforms, and audiences,” Verbickaitė says.

The CEO also emphasizes Vilnius’ role as an ecosystem enabler: the city backs and co-creates startup meetups, flagship conferences, industry gatherings, and award initiatives that bring founders, investors, and talent together. These efforts accelerate ecosystem maturation while giving tech entrepreneurs the opportunity to shape their growth and form meaningful partnerships.

“Only around 5% of Vilnius-founded startups relocate their offices to global hubs such as Berlin, London, or New York,” says Mangirdas Šapranauskas, Head of Business Department at Go Vilnius, the city’s official business and tourism development agency. Compared to a 26% average across the CEE region, this underscores the city’s ability to retain startups as companies grow globally.

Laima Balčiūnė, CEO of Sunrise Tech Park, one of Lithuania's largest science and technology parks, highlights Vilnius’ accessibility and founder-friendly environment compared with larger European or global hubs. Its compact scale enables faster connections, genuine collaboration, and direct access to decision-makers, while offering a solid infrastructure for growth.

“Vilnius also supports innovation by enabling organisations such as Sunrise Tech Park to help companies launch, access funding, and explore new markets. Startups can pilot solutions locally in a compact, open market and then scale through national and EU-level programmes designed for international growth. The ecosystem, which fosters collaboration between the city, academia, and business, allows startups to move from idea to market with access to talent, funding, and international networks,” Balčiūnė says.