A striking finding: seven out of ten new businesses in Lithuania are now founded outside the capital, Vilnius. This signals a significant regional expansion, with emerging startup hubs across the country catching up with the capital’s entrepreneurial momentum.
For the first time, a majority of high-growth projections now originate outside Vilnius. In 2024, 68% of early-stage entrepreneurs expecting to grow their businesses by at least 10 employees and 50% turnover were located outside the capital, compared to just 29% in 2023.
This is among the key findings of the Global Entrepreneurship Monitor (GEM) 2024/2025 Lithuania Report, conducted by Vilnius University Business School in partnership with Moody’s Corporation Lithuania.
Leading NECI score
In 2024, Lithuania reached a significant milestone. It ranked second globally in the National Entrepreneurship Context Index (NECI), with a composite score of 6.42 out of 10, and found itself ahead of nearly all high-income and EU countries, and was positioned only slightly behind the United Arab Emirates. This result signals progress in several key areas, including digital infrastructure, entrepreneurial finance, and government programme support.
Record high entrepreneurial intention
Lithuania’s Total Early-Stage Entrepreneurial Activity (TEA) rebounded to 11.7%, up from a dip in 2023 (7.1%), showing renewed energy among new entrepreneurs. Intentions to start a business also surged to 20.4%, which is a record high over the past decade.
Global standing and key trends
The report showed that Lithuania’s ecosystem continues to shine globally. Early-stage entrepreneurship rates have achieved near gender parity, with women (11.7%) and men (11.6%) participating at virtually equal levels. The data also points to a notable share of late-career founders, as those aged 45–54 (22.7%) and 55–64 (16.7%) contributing robustly to new business creation.
Innovation and sustainability in focus
While only 14% of startups report using artificial intelligence as a core strategy, a growing number (27%) plan to increase their use of digital tools, up from 13% in 2023. Meanwhile, sustainability is a key priority for more than half (52%) of Lithuania’s new entrepreneurs, who are actively working to reduce their environmental impact.
Celebrating the launch
The launch event featured insights from GEM Lithuania Team Lead Prof. Dr. Saulė Mačiukaitė-Žvinienė, Moody’s Corporation Lithuania Capability Center Country Lead Auksė Žukauskienė, Minister of Economy and Innovations Lukas Savickas, and GEM Lithuania Team Researcher Robertas Skliaustas, who moderated the discussion.
For a comprehensive look at the findings, view the full report or the Executive Summary.