1. Accelerator Startup.lt Arvydas Bložė, CEO Baltic Dynamics, 2015 28 / 05 / 2015

2. STARTUP.LT We are facilitating growth for early stage startups in terms of funding, shaping and advise. Our value proposition to the ecosystem is: (i) accelerate: bring early stage start-up to seed (investable) level standard or (ii) incubate: guide start-up in the path of growth or help with certain task requiring one of two competences from our team. Arvydas Bložė, CEO Previous experience encompasses more than 7 years in investment banking, working for the pan-Nordic-Baltic investment bank SEB Enskilda and its Lithuanian spin off SUMMA Advisers. Jean-Baptiste Daguené, CCO B2B sales and market entry specialist. Previous experience includes executive roles in sales divisions in several European start-ups, including one of the most successful Danish start-up TrustPilot. Approach Team Rokas Golcas, CMO Google Adwords and Analytics professional, lecturer, publisher, finished MA of web analytics in USA. More than 8 years of experience in web projects, incl. Modnique, global fashion e- commerce company. Key areas of expertise: SEM, web analysis and optimization of conversion. Idea & conceptStart-upExpansion & growth Acceleration & incubation Seed fund financingVC fund financing Donatas Keras, Chairman of the board Serial entrepreneur with a number of small scale business entries and exits. Currently, partner at a venture capital fund “Practica Capital“.

3. WHAT IS AN ACCELERATOR? For profits Key criteria Closed terms in > 1 year Paid in Equity

4. THE PART OF ACCELERATOR Applications Test business model (stage 1) Customer development (stage 2) Towards first deal (stage 3) External investment

5. TWO DIFFERENT MODELS – TWO GOLD STANDARDS 20052006 Silicon ValleyBoulder, Boston, Seattle, NYC + >20 partners Single VC LP (Sequoia) + angelsBroad VC – focused LP base + angels 840 companies so far114 companies so far Summer/WinterSummer 90% are active92% are active Has a “guru” model, with a closed/exclusive approach Utilize mentorship-driven, open and replicable model

6. EUROPE IS DIFFERENT Europe is more complex and diversified with loosely connected ecosystems, that have developed their own recipes and variations: -funded by VCs, large corporations, even governments; -Stipend value/Charge fees/Seed investor; 50% of seed accelerators/incubators started in 2010, hence still need time to settle; SeedCamp is the European “gold standard” of accelerator programs with a Ycombinator model, while StartupBootcamp is following the Techstars model.

7. THE BALTICS To specialize, accelerators need all aspects of the local ecosystem to be in place: quality applicants (including lots of entrepreneurially- minded students); Angel & seed investors / venture investors / acquirers; Partners and customers. Potential for execution in the ecosystem Due to the relatively small size of the economy, none of the sectors produce significant amount these! Mentoring vs Hands-on approach Mature enough ecosystem to attract foreigners Necessity of experienced sector-specific people, who could provide to-the-point guiding; International experience and a broad network in a specific industry (as start-ups usually target international markets); General success stories aren’t enough to guide a sector-specific company. The outcome: 1.Funded by the government 2.Teaching fundamentals 3.Making non-ivestable teams investable 4.Small batches 5.Selective mentoring

8. ROLE OF THE ACCELERATOR IN THE ECOSYSTEM Events Accelerators Angels & VCs Sci-institutions & parks Institutions Expert, advisor & deal flow networks Practica Seed Capital LP €6m, 25 investments Practica Venture Capital LP €15.7m, 9 investments Private sector partners Public investors

9. Thanks! ab@startup.lt