Startup scene in Lithuania - weekly newsletter

Regroup

Regroup
Photo by Ligita Borkovska on Unsplash
Welcome back friends
Lithuania Tech Weekly #61
Subscribe at philomaths.tech

Sponsor this newsletter here. This keeps these letters going!

The horror continues, but evil will get defeated - have no doubt.

It's a moment of reflection for Lithuania, too. How did this country of 3 mln, bordering Belarus and Kaliningrad, become so over-reliant on NATO? We can do better. Given the rogue states around, let's follow Israel and Singapore examples (military spending at 5.6% and 3.2% of GDP (and GDPs are... higher)). Hope has proven to be a poor strategy, as PM Simonyte outlined yesterday.

Look, defence is not public "spending" as such. It is a critical investment into security, predictability, and the business environment. And those who studied the history of Silicon Valley, or Isreal, will point at all the high-tech, which got accelerated that way. Defence can (and should be) a platform for frontier innovations, aggressive R&D and an important entrepreneurial engine.


work in progress


rounds and capital

  • Argyle closed a $55M Series B led by SignalFire and supported by existing investors Bain Capital, Bedrock, and Checkr. From the outside look, they are outstanding at investor communication and awesome in design
  • Traxlo raised a 378K EUR pre-seed for socially responsible gig work platform. Round led by Iron Wolf Capital, along with Antler, Marius Jakulis Jason Foundation,  Red Pill VC, and angels.
  • popup.lt raises EUR 141k for online design marketplace, dedicated to Lithuanian design community.
  • Game-Changer.vc is a new early-stage investor aiming to disrupt the process of... starting. Essentially you fill 10-mins form (+video pitch) and can expect $25.000 for 10% of equity (standard SAFE).

blog posts

2022 Lithuania tech predictions
Finding Angel Investors in Lithuania
5 Questions With the Editor of Tech Philomaths 

founder guides

roleplay (new teams - reply to get featured)

insights


ecosystem

How to think about public defence investment in the current era? Think about national programs, R&D, and spillovers.

First, our common problem is that policymaking is reduced to two tools, which are supposed to solve problems. One is "make new law". Another one is "assign large budget".

They work when the issue is simple. But most national programs are not simple, and not even complicated - they are complex. It means they are dynamic, interrelated, with multiple unknowns, and never get "solved" - you need someone to keep working on those, endlessly.

Creating a new platform for defence-related technologies and startups, we need to start here. A law or budget will not get us far, we need to look at organizations, agencies, competence, motivation, and surely leadership. Steve Blank explains this well in US context.

Second, we should not reduce this discussion to "local content production" - dreaming about factories assembling F16s, just because it is easier to imagine. It should neither get reduced to "Lithuanian solutions for already solved problems" - just purchase all this existing, latest tech.

Instead, we should bring to challenge where others have stopped, the actual frontier. Is it Cyber? Is it UAVs? Infowar? Space? More good ideas from Josh Wolfe, Lux Capital.


Happy birthday, Lithuania.

Lithuanian people protesting agains Russian invasion of Ukraine
Photo by Dovile Ramoskaite / Unsplash

Subscribe to Tech Philomaths

Sign up now to get access to the library of members-only issues.
Jamie Larson
Subscribe