Between September 9th and November 10th, 2024, I conducted a study research program at Vilnius University Business School under the mentorship of Dr. Saulė Mačiukaitė-Žvinienė, Head of the Department for Entrepreneurship and Innovation. My research was focused on the startup ecosystem in the Baltic region and its connection to the development of startups per year, several VC funds, and investment in startups also comparing its development to the startup ecosystem in Western Balkans. This experience enriched my understanding of Lithuanian and Baltic startup ecosystems and provided insights for my ongoing PhD thesis, which examines the influence of country branding on the development of startup ecosystems.

The goal of my research was to identify factors driving the success of the Baltic startup ecosystem and compare them to the challenges in the Western Balkans. The research activities were structured to include, data collection and analysis from academic literature, reports, and datasets from platforms like Dealroom.co. This analysis focused on understanding ecosystem performance in terms of funding, innovation, government support, and regional collaboration. During my research period, I had meetings with the Director of Startup Lithuania and the Director of E-Residence Estonia. These discussions provided valuable insights into the strategies that have made these initiatives successful, particularly in digital innovation and ecosystem building.

Also, I have attended several exhibitions, like Startup Fair Lithuania and GovTech Lithuania, which showcased cutting-edge entrepreneurial initiatives and innovations in government technology. These events allowed me to network with startup managers, policymakers, and entrepreneurs, enhancing the practical dimension of my research. I delivered lectures at Vilnius Business School on the topic “What is a Startup?” These sessions explored the concept of startups, their role in economic growth, and the challenges entrepreneurs face. The interactive format inspired students to engage with entrepreneurship and consider startups as viable career paths.

This study research significantly enhanced my PhD studies and provided valuable insights for improving the Western Balkan startup ecosystem. The scientific paper and the knowledge gained through networking and events will inform future initiatives and academic contributions.

My time at Vilnius University Business School was invaluable, blending academic mentorship and practical applications. In one word it was perfect.