The U.S. market offers vast opportunities for Lithuanian businesses but also presents unique challenges, ranging from specific legal requirements to locally adapted marketing strategies. To help overcome these market entry barriers, "InnoHub Lithuania" organized five mentorship sessions over the past year with U.S. experts in law, marketing, sales, and regulatory affairs.
“The initial results demonstrate success. The project’s evaluation metrics show a strong benefit for participants, and programs designed to help businesses establish themselves in the U.S. are highly rated. 'InnoHub Lithuania' has not only become a bridge between Lithuanian and U.S. businesses but also a strategic launchpad for technology and innovation companies that aim beyond the European market,” says Indrė Balčiūnaitė, Head of the International Partnerships Department at the Innovation Agency.
Last year, "InnoHub Lithuania" also organized four networking events and a startup business mission to Silicon Valley, where Lithuanian businesses had the opportunity to connect with potential partners and assess the value of their products and services across the Atlantic.
Real Support for Market Preparation
One of the most significant achievements of the project’s first year was a partnership with the UCLA Anderson School of Management—one of the world's top business schools, located in Los Angeles, California. This collaboration was facilitated by the Consulate of the Republic of Lithuania in Los Angeles.
As part of this initiative, six Lithuanian companies participated in the UCLA Global Access Program (GAP), working alongside MBA students to conduct an in-depth market analysis and prepare a feasibility study for expansion into the U.S. market.
“The program received great interest from Lithuanian businesses—there were more applicants than could be funded. However, thanks to the initiative of active companies and the efforts of the Innovation Agency Lithuania and the Lithuanian Consulate in Los Angeles, we managed to expand the number of participants. In total, six Lithuanian businesses took part—five funded by the Innovation Agency Lithuania and the software developer 'Telesoftas,' which joined the program at its own expense. The total financial support provided to Lithuanian businesses amounted to €42,700, covering 75% of the participation fee,” explains I. Balčiūnaitė.
According to her, GAP program participants realized that a successful entry into the U.S. market is impossible without thorough analysis and careful strategic preparation. Their participation in the program provided them with clear guidelines for product positioning in the new market. The market analysis conducted by students and the connections established during the program proved to be invaluable assets in the initial stages of expansion.
In addition to the GAP program, Lithuanian businesses also benefited from a scientific research and experimental development (R&D) diplomacy tool, which helps companies understand the U.S. R&D ecosystem and its nuances. Through this initiative, five U.S.-based programs were funded, carried out in collaboration with business partners such as "USA Launching Pad," "Geta Global Ventures," and "USA MAC".
“This is still a relatively new instrument for Lithuanian companies, but it provides a real opportunity to prepare for entering the U.S. market. The program enables businesses not only to understand the market dynamics but also to establish their first connections with potential clients. In total, this program provided approximately €91,000 in investments for businesses,” says I. Balčiūnaitė.
According to the Innovation Agency representative, **the total financial support provided to Lithuanian companies for U.S. market entry last year reached nearly €134,000.
What’s Next?
The first year of the project clearly demonstrated that Lithuanian businesses are ready to test their strength in the world’s most competitive market. Looking ahead, the goal for the second year is to further strengthen strategic ties with key players in the U.S. innovation ecosystem, enhance business networking, expand the mentor network, and most importantly, help companies secure contracts.
“We see increasing interest from Lithuanian companies in the U.S. market. In the second year of the 'InnoHub Lithuania' project in Silicon Valley, we will not only continue mentorship programs but also focus on helping businesses establish more direct contacts with investors and potential partners. We will refine support mechanisms for those seeking real investments and their first sales in the U.S.. The emphasis will be on practical business preparation—from market testing to securing valuable partnerships with U.S. firms,” promises I. Balčiūnaitė.
