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4 min read

Creative Destruction Lab

Creative Destruction Lab
"poster philomath style - a portrait of a brave student, in front of Vilnius university, 19th century, holding ipad in his hand" | DALLE-2
Late mornings!
Lithuania Tech Weekly #103
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work in progress

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rounds and capital

  • Kaunas-based medtech startup Vilimed has secured EUR 300,000 in funding from the Lithuanian fund CoInvest Capital and the LitBAN angels. The startup develops a unique therapeutic device that reduces hand tremors for people with related diseases.
  • Avallone (70V portfolio) has raised EUR 2.1 million in a seed round from new and existing investors.

Does the Lithuanian startup community require a new FB group? The current one seems to be innovating a lot lately. Vote here

☑️ I find these posts entertaining, it's fine

☑️ We need a new FB group with proper admin/filter

☑️ Yes, but a Slack channel

☑️ Nevermind - META is goodbye for me

roleplay

Kilo Health - Health Category CEO
ArcaPay - Senior Regulatory Compliance & Risk Manager
Oxygen - Sales and Marketing talent
Startup Lithuania - Project Manager

things planetary

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founder guide

ecosystem

  • We should not stand still just observing the tech ecosystem grow on its own - there is too much opportunity to ignore. But what creative interventions would accelerate further? How shall we encourage new founders to launch? If you believe the best founders are self-starters, we have bad news - "forced" entrepreneurs are better performing, not worse, compared to "natural" entrepreneurs.
Our results therefore provide the best evidence to date that even the best entrepreneurs are not destined to select into entrepreneurship, and thus many wage workers today have high entrepreneurial potential.
  • For immediate effect, it is tempting to look into late-stage solutions - universities and mid-career training. For example, Antler and EF are trying to locate misplaced talent (people that should be founders instead of employees). As mentioned by Sten Tamkimvi in this podcast, Creative Destruction Lab and Digital Society Stream - training/mentorship programs in universities - are other avenues to explore. Keeping it super simple and aiming for impact, YC Startup School - accelerator and content-  is a great example. It definitely encouraged (and educated) thousands of startup entrepreneurs worldwide.
  • But where is the highest leverage? Nobel laureate economist James Heckman shows how smart investments in early childhood development improve social, economic and health outcomes. But that's not only about future earnings or overall productivity.
Through entrepreneurship education pupils typically acquire non-cognitive skills, which has a positive effect on their continued school education. Non-cognitive skills, or character skills, such as persistence and creativity are self-reinforcing and make it easier for pupils to acquire and utilise other skills.

It seems that this is the massive unlock (and largest ROI), is within the family, kindergarten, and school! There might be no hacks in this system...

insights

Left: Cui, Wu, and Evans (2022); Right: Kaltenberg, Jaffe, and Lachman (2021). Patent data is for patents with a single inventor, but similar results are derived using the average age of a team of inventors on a patent.

three questions, previously

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