TechHub Demo Day #7

Powered

Gediminas Rumšas

Head of TechHub Pre-accelerator

We are proud to present the graduates of 7th cohort of the TechHub pre-accelerator. After three months of intense acceleration, startups are ready to present their progress to you at the Demo Day event and offer a unique take on problems they are passionate to solve.

This was the first cohort on site - almost no online activities took place. So this was a unique experience for both - us and the startups. Unfortunately, some teams dropped out because of this, but the ones that remained enjoyed this great sense of community and working together. It was easy to notice how teams supported each other and created together.

With the graduation of these startups we mark more than 140 established companies during the program. So far they have attracted more than 5,7 mln Eur of investments from both private investors and EU funding. It’s important to note that, since this is just the beginning of the journey in business for the most teams, the real results of the program can best be measured after 2-3 years after the program.

I want to thank our huge team of mentors and lecturers, that supported our startups every step of the way. Also, I would like to thank our partners and a great number of investors and business angels, that continuously show great support for early-stage startups.

Most importantly, thanks to our teams, for not giving up and trusting us with their ideas. Don’t stop growing!

Lecturers and Mentors

TechHub Partners

Demo Day prizes are presented by

Startups of cohort 7

Mentored by the team of TechHub consultants, the startups of this cohort are working on a variety of solutions in different fields, including online marketplace building and developing technologies for medicine, research, hospitality, construction, law and finance.

Project maturity stage:

Idea: 30 %

Expansion: 10 %

Investment needs for further growth:

Not looking: 30 %

Seventy percent of the startups already have full teams of professionals, needed for development and growth of their business, and 40 percent already have first clients.

Prototype: 80 %

100-500k: 20 %

<100k: 50 %

AFFAIR 212

Drive hospitality success

FIELD:

EdTech PROBLEM:

Hospitality industry is a big part of our economy. And this sector is one of the most growing in the industry. Hospitality operators have challenges to find and onboard new employees in the company culture. Staff retention in hospitality industry is two times bigger than other sectors. It effects not only service quality, but company turnover as well. This problem is global. In European Union countries there are 11 million workers, and 30% of them are unexperienced.

LOOKING FOR:

100,000 euros. Firstly we want to try our product in the local market. The main goal to xpand the business to European countries, because here is big potential. During our research we found that there are 1,9 million enterprises and 11 million workers in the industry. 30% of employees are unexperienced, and 30% of operators claimed that they have problems to fill empty positions. During the research we found that 70% of hospitality operators would invest in innovative staff training and development program.

SOLUTION:

Platfrom for both; B2B and B2C side. On one hand hospitality operators can easily find, train and ensure smooth staff integration in the system. Also, they will be able on this platform to cary out daily business management process and follow employees engagement. On the other hand, those, who want to learn this craft, can learn, get better, be visible and find the right job around the world.

BUSINESS MODEL:

B2B - monthly subscription (the price depends on the plan, also how many people will be onboarded in the system).

B2C - fremium, later price per course.

OUR CLIENT:

Hospitality operators(hotels, bars, restaurants, cafes), also, young people, who are looking for long term, short term, seasonal job in hospitality industry around the world.

MAIN COMPETITORS:

Flow learning by Mapal is direct competitor.

OUR TEAM:

CEO - Edvinas Sinkevičius. He has more than 14 years of experience working in hospitality business. His experience ranges from bar manager position at the world’s tallest hotel in the United Arab Emirates to working with the international brands, such as Diageo Reserve and Jack Daniel’s. During his time in the industry he has organised many trainings and workshops for hospitality employers and employees. Also, before last summer, he opened a restaurant in the seaside, where I employed more than 30 young, unexperienced people.

CO-FOUNDER - Dargaudas Kemeklis. He is experienced hospitality professional, currently is working as a head of operations - O’learys Baltics (6 units). He has has a career in this company for 8 years.

CONTACT:

Edvinas Sinkevičius

Edvinas@affair212.com

HoMu

All-in-one solution to simplify your home construction and renovation

FIELD:

Proptech

PROBLEM:

Home construction or renovation is a headache for most home owners. It takes a lot of time and stress, it is hard to select reliable contractors and it is hard forecast expenses. The problem is relevant for 250 billion EUR size home renovation market in Europe.

LOOKING FOR:

Planning to launch MVP

SOLUTION:

All-in-one solution to simplify your home construction and renovation. Solution is unique as it simplifies the whole construction and renovation process in a simple self-service platform.

BUSINESS MODEL:

Selling project by project and have 20% margin for the whole project, which is roughly 5k EUR per project.

OUR CLIENT:

Home owners. It is 250 M EUR home construction / renovation market size in Lithuania and around 250 B EUR in Europe.

MAIN COMPETITORS:

Traditional contractors

OUR TEAM:

We have 3 guys in the team. Gintaras with 10+ year of experience in our startup industry (Real Estate), Miroslavas with 10+ years of experience with growing startups and me with 10+ years of experience strategy and project management

CONTACT:

Mantas Tursa

mantas.tursa@gmail.com

861432220

Reduce Reuse Revalue

FIELD:

Online Marketplace PROBLEM:

Lithuania has a very strong furniture production market, that reched almost 2 B Euros anual revenue in 2021. And its getting bigger - that is a good thing. However after project implementation, factories that produce custom furniture often have excess materials and furniture-related parts and this means occupied warehouse space and most importantly - frozen money that could circulate in the market. The most motivated are already trying to look for solutions and sell their overstock to others. However, at the moment there is no convienient and centralised way to do that.

LOOKING FOR:

We currently need support in the areas of communication management and marketing. The product is almost ready, we are already working with the first customers and uploading information to the website. So, marketing strategy and communication is where we have the least expertise.

SOLUTION:

We’re creating an online platform, where overstock interior and furniture production materials can be sold and bought. The idea is to become the only tool producers will be going to use while realising their overstock materials, and interior designers, DIY community and others will choose this sustainable option to implement their ideas. So, our goal is become not only time and cost saving tool, but also induce responsibility and sustainability.

BUSINESS MODEL:

It’s B2B/B2C. From suppliers side, mainly it is furniture production companies, project managers (especially freelancers), interior designers and etc. From buyers side mostly will be persons that are able to make some furniture by themselves, students in artschools, interior desiners, also other furniture production companies, especially smaller ones. Business model is based on commission fee, also commercials and fee for highlighting ads should appear within the first year. From the second year a bunch of additional services is foreseen to be loaded, including designing, project management service, sertificate of TVARIAUSI LIETUVOJE, community events and etc.

OUR CLIENT:

Our customers from the B2B side (mostly suppliers) are furniture manufacturing companies. According to the information provided by rekvizitai.lt, there are currently about 5,000 companies in the LT market. All together, they achieved an annual income of 2 B euros. During the interview, we found out that excess materials make up 5-10% of the company’s annual income. So we have approximately 100 million euros of frozen money in this market. We have already agreed to cooperate with some companies and upload their surplus stock to our platform. Some interior desiners also greet the idea and are waiting the tool to be available.

MAIN COMPETITORS:

At the moment there is no specific/central tool for such sales. Mainly the trades are made in Facebook groups, skelbiu.lt, companies make their inner sales for employees or create some broshure and send via email.

OUR TEAM:

The idea of realizing surplus materials has been in our heads for several years. Sigita and I have been working in the furniture manufacturing market for more than a decade and we see this pain/need from the supplier side. Ramūnas is an IT master with vast experience in product management, and one of his hobbies is making furniture himself, so he provides great insights from the buyer’s side.

Bacsty www.bacsty.com

Eliminate bacteria, ensure safety

FIELD:

BioTech/MedTech

PROBLEM:

Food industry needs to ensure hygienelow microbiological contamination level in order to avoid food spoilage, losses and recalls from suppliers.

LOOKING FOR:

At the third quarter of 2023 we will start the first test of our prototype with potential customers. Also, planing some investment to make deeper search and implement some more advance solutions in to our product.

SOLUTION:

Bacsty - disinfection equipment that is created for Food industry companies - it constantly eliminates bacteria from air and surfaces.

Clean air and surfaces 24/7, no harmful chemicals and low energy consumption.

BUSINESS MODEL:

B2B. Developing sales through distributors in different countries.

OUR CLIENT:

Food industry, later planning to enter medicine sector.

MAIN COMPETITORS:

Our main competitors are those, who supply alternative products, such as disinfection, based on UV-C lapms or ozone generators.

OUR TEAM:

Erikas Lekerauskas - has more than 15 years sales experience in sterilization and disinfection technologies.

Martynas Tichonovas - is a scientist and has deep technical knowledge and skills. He builds our Bacsty equipment.

Dainius Martuzevičius - is a scientist with experience in the field of advanced environmental technologies. He develops scientific part of our solution.

Tadas Prasauskas - takes care of all of the product development process.

CONTACT: Erikas

erikas@litmus.lt

+370 656 30868

User insights for fast service design decisions

FIELD:

Research, Service design PROBLEM:

Companies can stay ahead of competition by involving their target users and building products and services based on their needs and expectations. However, the cost to gather real user feedback is high as it requires sufficient resources and can take up to 3-6 months to reach your target users, perform a thorough research and interpret data to create an actionable strategy. Companies do not have the luxury to wait and they need an easy and fast way to reach their users to get their insights and make fast decisions how to improve service offering to stay ahead of competition.

LOOKING FOR:

Onboard first 100 clients. Active marketing campaign to grow and maintain insiders base. Grow the team with CMO and CTO positions.

SOLUTION:

With SOFAINSIDER companies can engage their target user groups (i.e. insiders) based on detailed profilling and get anonymous and objective insights in days. Companies can use SOFAINSIDER in various development stages - from problem identification, to idea generation, to concept testing. For their participation, insiders earn credits and can choose to donate the reward to a selected charity organisation.

BUSINESS MODEL:

B2B; We use a pay per insight model with free registration (min. order size: 100 insights).

OUR CLIENT:

Our target segment is B2C service organisations and our solution is industry agnostic. In the first stage we focus on industries that our team has vast experience working with, i.e. education, healthcare and utility companies. Our target market is around 5% of companies in the Baltics (i.e. around 20 thousand companies).

MAIN COMPETITORS:

Lithuania: market research companies such as Sprinter online, Kantar forum.

Global: user research tools such as Opeepl, Pollfish, UsabilityHub (most have limited coverage in the Baltics).

OUR TEAM:

Kęstutis Jovaišas (strategy): 15+ years of management consulting experience working with service design in numerous local and international public and private organisations.

Akvilė Kriaučiūnaitė (product): Worked with user research in one of the biggest Scandinavian banks. Direct experience applying service design/ design thinking methodologies.

Kristina Jonkuvienė (business development): Broad business network in Lithuania and internationally. Knowledge in machine learning and data analysis for service improvements.

Laura Žilytė (marketing): Directly worked with customer experience improvement initiatives. Valuable knowledge of online product promotion.

Anton Andrusenko (IT partner): Experience in building digital solutions for consumers.

Note: IT development is outsourced and platform maintenance is currently supported by our development partners. We are looking for a CTO to join our team full time.

iXcode

Protect your creativity

FIELD:

LegalTech PROBLEM:

Artificial Intelligence (AI) can generate text, images, 3D objects and other fascinating outputs. This technology combines human creativity and computer superpower in a unique way, opens new avenues for expression and innovation. While generative AI presents exciting opportunities for creativity, it also raises new regulatory issues in the realm of IP right protection. One of the challenges is to prove the authorship and ownership of such digital content in case of copying and using it without author’s permission. This problem we try to solve.

LOOKING FOR:

We are planning to start developing MVP after receiving grants for Artificial Intelligence and Blockchain. If some investors would be ready to speak with us in this stage of project maturity, we are open for discussions.

SOLUTION:

We are developing SaaS solution for legal and digital protection of AI generated art and other digital content. Our uniqueness is in combination of different technologies: blockchain, cryptography and digital sinatures. Solution will establish a chain of trust between creators and users of protected digital content.

BUSINESS MODEL:

B2B market segment. Subscription based model.

MAIN COMPETITORS:

Indirect competitors: Generative AI programs, Image marketplaces.

OUR CLIENT:

Our potential clients are freelancers and advertising agencies creating digital content for business. Global revenues for digital marketing by 2025 will be 466 bln. USD. If only 0.2% would be dedicated for the protection of digital content, market size would be near 1 bln. USD. We have positive feadback from biggest advertising agencies in Lithuania by discussing the problem and the possible solution.

OUR TEAM:

We are a team of two.

Arturas - has business experience for more than 20 years, compleated EMBA, PhD candidate in Law (focus on AI and IP law), Member of European Law Institute (ELI) in Austria (AI working group);

Algirdas - experienced in EU projects with AI and blockchain, PhD in Informatics, has academic experience for more than 10 years.

+370 686 94427

Carcar

Car repair one click away

FIELD:

Marketplace PROBLEM:

From the client’s perspective: almost impossible to find a trustful car service, find out the prices, compare them, see recommendations, and easily register online 24/7.

From an auto-service perspective: hard to attract new customers, gain trustworthiness, and easily manage processes.

LOOKING FOR:

50 000 Eur, to improve developing and marketing.

SOLUTION:

Marketplace, which provides car services, car washes, and roadside assistance with ratings. Specific prices, so clients can know in advance what to expect, compare them, can see availability in the calendar, and book 24/7.

The platform also attracts additional customers to partners and helps to manage them.

BUSINESS MODEL:

B2B Commission fee.

OUR CLIENT:

Repair shops, car washes.

MAIN COMPETITORS:

proservisai, motointegrator OUR TEAM: Renat, CEO, 15+ years of experience in business, automotive sector, sales; Ronaldas, CMO, 20+ years of experience in business development and marketing;

Oleg, CTO, Software engineer with 20 years of experience.

CONTACT: Renat

renat@carcar.lt

865605383

Locate Paper

The way to find paper

FIELD: Online Marketplace PROBLEM:

In Europe’s printing and packaging industry, small printing houses face a critical challenge in that they lack direct access to raw materials from paper factories, due to limitations on order size, upcharges for small volumes, advance payment requirements, and long delivery terms. As a result, they are often forced to rely on middlemen for their supplies. 8 out of 10 times small printing houses are using local sales agents so they have super-fast delivery term, but mostly they end up overpaying by 30% or more, and are limited in terms of the materials they can choose from.

LOOKING FOR:

A startup needs an advisor with outstanding B2B SaaS/marketplace business development experience to provide guidance and insights on scaling the business, identifying opportunities for growth, and building partnerships with other companies. Having an experienced advisor on board can help the startup avoid common pitfalls and accelerate its growth trajectory.

SOLUTION:

Locate Paper is revolutionizing the printing and packaging industry by creating a platform that enables direct trade relationships between small printing houses and paper factories. By cutting out the middlemen, we are eliminating unnecessary expenses and opening up new opportunities for the industry. Our solution is based on simple IT no-code tricks that make a big difference. We connect many different paper factories that can offer a wide variety of raw materials and combine orders from small printing houses into bundles to eliminate the small order factor. With Locate Paper, small printing houses can access the materials they need at a lower cost, with additional services such as deferred payment or logistics, they have even more options to choose from. This is the future of printing and packaging, and we’re proud to be at the forefront of this change.

OUR CLIENT:

In the European market, there are 319 paper factories, also known as mills, and 19,200 small printing houses. These small printing houses have a yearly consumption of paper and carton board that amounts to 8,700,000 tonnes, which is equivalent to 6.96 billion euros. This represents a significant market opportunity for Locate Paper to create value by directly connecting small printing houses with paper factories.

MAIN COMPETITORS:

Locate Paper’s primary direct competitor in the European market is Pabex, a company operating in Germany. However, the company also faces many indirect competitors in the form of large trading houses that operate both globally and locally, such as Libra Vitalis, Roxcel, Elof Hanson, and Polo, among others.

OUR TEAM:

The Locate Paper team consists of two ambitious and hungry hustlers, Toma and Kristijonas. Toma brings outstanding 15 years experience in B2B development, with a focus on the printing industry, having worked in the field for over 7 years. Kristijonas, on the other hand, has 6 years of experience in the IT field and 5 years of experience in marketing for startups. Together, they form a dynamic and complementary team, each bringing their unique expertise to the table. With their combined skills and experience, they are well-positioned to take Locate Paper to the next level and revolutionize the printing and packaging industry.

trend4money.com

Trend4Money

Smart FX Investment Plans

FIELD: Fintech PROBLEM: Global problem: investing in Forex instead of speculating.

LOOKING FOR: Investment into marketing and the development of new products.

SOLUTION: Investment plans (research papers).

BUSINESS MODEL: B2C

MAIN COMPETITORS:

Forex signals traders / Forex consulting companies.

OUR CLIENT: Educated Forex traders.

OUR TEAM: Our team consists of analysis specialists: one is an economist with more than 10 experience in Forex trading and econometric analysis; another is a researcher with programming and analytic skills; third is data and processes analyst.

CONTACT: Arunas Burinskas

info@trend4money.com

burinskas.arunas@gmail.com

mowellio

Earn recognition as leader in employee health and wellness

FIELD:

HealthTech PROBLEM:

Global. The problem is that companies are having difficulty engaging employees to be more physically active with existing solutions; as a result, companies are becoming more skeptical about the ability to empower employees to have better health.

SOLUTION:

Gamified social healthTech platform connecting businesses in the global exercise challenge. As all people, regardless of profession, need to exercise to keep their bodies healthy, we are developing a social platform where anyone can see how companies are performing. Companies can be recognized as leaders in employee health and wellness if the majority of their employees participate in exercises on the platform. Companies can compete against one another to earn higher rating scores and prizes. We will assist users in performing exercises correctly and counting them using human motion analysis. Companies can use the platform to share content about their experiences improving employee health and well-being. Furthermore, we are investigating how we can collect data from corporate fitness apps and various wellness platforms in order to attract a larger audience that is already using other solutions.

BUSINESS MODEL:

Freemium with monitization from subscriptions.

OUR CLIENT: B2B2C

Yearly adopters - tech companies 10-100 employees.

MAIN COMPETITORS:

There are various companies working on corporate wellness platforms. These companies have mostly similar features, Wellable and Movespring provide various internal company challenges (the popular one is steps challenges) and wellness content on demand.

OUR TEAM:

Ivan Kosobucki CEO, I will gain business development experience working in HealthTech startup Mindletic for some time, and then continue working on the product.

CONTACT: Ivan Kosobucki +370 673 47562