Lithuanian Startups Thrive in Q2 2023

Q2 2023 sees Lithuanian startups significantly boosting the economy, with a 15% increase in tax payments amounting to €93.8 million, and the employment sector expanding by 5%


Unicorns Lithuania reports a surge in contributions from the startup sector to the nation’s economy in Q2 2023. Startups in Lithuania have upped their tax payments by 15%, reaching €93.8 million this quarter, a 25% increase YoY. Employment figures in the startup domain have grown by 5%, with the sector now employing 17,500 residents. The average gross salary stands at €3,800, marking a 15% YoY growth. The top tax contributors were led by Vinted (€6.55 million), followed by Wargaming and Nord Security. 

Moreover, startups such as Oberlo and Game Insight lead in salary payouts, with Oberlo offering an impressive €15,800, a 144% increase from Q1. 

 Inga Langaitė, CEO of Unicorns Lithuania, expresses confidence in the sector’s continued growth, highlighting its increasing value to the Lithuanian economy. 

 Currently, over 870 startups operate in Lithuania, predominantly in Business Software, FinTech, and HealthTech domains. 

Source: delfi.lt

Jakub Warzecha

Creative copywriter, archaeologist. Interested in history, technology and military matters. Specializes in marketing communications and application architecture design.

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