Entrepreneurship

Sukurta: 23 January 2020

R&D solutions developed at the University can be commercialized when setting up an innovative company to develop, produce, sell or further develop R&D-based solution in the market. Innovation Office can offer initial advice for researchers on how to set up and run a company. Seeking to contribute to the creation of an ecosystem of innovative start-ups, Vilnius University may grant a “University start-up” status to a new company. Vilnius University has also the opportunity to invest in R&D solutions developed by the members of the University community, who establish an enterprise for the commercialization of R&D solutions, as long as this is consistent with and complementary to the mission of Vilnius University Statute and adheres to its operational objectives. Every need for an investment is always assessed, evaluated, and decisions are made in accordance with the principles of benefit, efficiency, rationality and accountability to the public.

Innovation support services

At Innovation Office, we can advise on how to start and run an innovative company (start-up). We will evaluate your idea, its commercialization potential, and help you model the beginning of your business strategy. Please, consult Innovation Office if you need support, when creating business plan, building company’s team, attracting investors, forming partnerships or finding other innovation support services at science and technology parks founded by Vilnius University.
Currently, the startup ecosystem of Lithuania is growing strongly and has a large number of members with various tools to help startups grow successfully. A map of the startup ecosystem, where you can also find Vilnius University, can help you to make your way among wide range of opportunities. Meanwhile, Vilnius University Innovation Office can help you to choose the right tools to successfully execute your business idea.

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Start-up status

In order to encourage entrepreneurship among its community members, Vilnius University can help start-ups that were established by community members when forming partnerships and positioning themselves in the markets, where marketing activities are of immense importance. Vilnius University may grant a “University start-up” status to a new company. Such status shall be granted in the frame of the cooperation agreement between Vilnius University and the start-up company. The cooperation agreement determines the terms for the use of Vilnius University's start-up company status, communication provisions, the conditions for cancellation of the “University's start-up” status and other provisions.

If you are seeking a “University start-up” status, we would firstly suggest you completing the Initiative Questionnaire Form on university’s VU intranet.

The application for granting “University start-up” status shall be considered by the Intellectual Property Management and Investment Committee and shall be decided by the Rector or a person authorized by the Rector.

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Investing in spin-off companies

Intellectual property created at Vilnius University may be licensed to a company (start-up or already existing for a certain period). This allows bringing the R&D solution created by university researchers directly to the market.

Vilnius University can also invest into legal individuals with limited civil liability, i.e. a spin-off company, which is established to commercialize university-based R&D solutions. Vilnius University may establish a spin-off together with partners of R&D activities (projects), authors and / or other natural or legal persons. The University’s contribution to the spin-off company may be financial or in-kind, but the capital share of the University within such company should not exceed 20%.

If you are looking for a University investment, we would firstly recommend completing the Initiative Questionnaire Form on VU intranet.

The application for Vilnius University’s investment into the spin-off company is considered by the Intellectual Property Management and Investment Committee.

The application is evaluated according to the following criteria:

- importance for the university studies, scientific, artistic or cultural purposes;
- commercial and social potential of the information provided in the Initiative Form;
- potential business models and their sustainability.

Decisions taken by the Intellectual Property Management and Investment Committee shall be of a recommendatory nature. The decision of Vilnius University to invest into the spin-off company is approved by the Rector. Where appropriate, Vilnius University Rector may call upon the University Council to decide on the investment into a spin-off company.

It is important to note that when investing into companies of limited liability, decisions by the University Council shall be taken on these matters:

- when a limited liability entity is established outside the territory of the Republic of Lithuania, except for when a legal person operating on the principle of membership is established;
- where the requested investment into a limited liability legal persons exceeds EUR 100 000, despite that the investment is carried out in a single or multiple investment (except for the case of investment in intellectual property that belongs to the University);
- after the investment the University owns at least 50 percent of the votes at the general meeting.

When deciding whether to establish or invest into a spin-off company, investing possibilities with private investors and / or venture capital fund (s) are more favorable. Therefore, we would recommend you to consider the investment opportunities offered by Vilnius University Endowment Fund, private investors, business angels, venture capital funds and Invega (a financial entity incorporated by the state).

More information on Vilnius University's investment opportunities into spin-off companies is available at Innovation Office (; tel. +370 5 2687017).