CERN Incubator in Lithuania announces 3 finalists

CERN Incubator in Lithuania announces 3 finalists

The completed application evaluation phase of the Lithuanian Business Incubation Center of CERN Technologies (incubator) program brought 3 innovative and purposeful business ideas based on CERN competencies. After surpassing almost 20 competitors, the unique ideas that the incubator finalists seek to develop exceeded the expectations of the commission and CERN experts.

Meet the first finalist of the incubator program – the start-up Synthly Technologies, developing a 3D printer with special software that enables extremely efficient design and production of electronic circuit systems. According to the head of a start-up Einius Okunevičius, this type of printer has a huge potential in the modern age of Industry 4.0 and the Internet of Things, which is constantly growing the demand for original electronic devices.

The second finalist – Universe for Kids initiative, which develops an augmented reality mobile platform for children’s education. ” Recognizing the importance of technology education, we aim to give children of all ages around the world the opportunity to learn more about CERN’s research activities in an interactive environment”, – says team leader Dr. Monika Baškytė.

The third participant of the final stage is the start-up Volatile AI, developing an electronic olfactory technology that can replace the services of professional tasters or chemical laboratory research currently used in the food industry. According to co-founder Adomas Malaiška, the innovative olfactory devices developed by the team are already being tested in several breweries.

“It is something to be proud of – CERN incubator in Lithuania, which is less than a year old, is already bearing fruit. Today we see even three original, promising, and added value-creating start-ups, worthy of becoming the winners of the incubator program and developing CERN technologies in our country”, – says Dr. Mantas Vilys, director of Lithuanian Innovation Centre (LIC). Ash Ravikumar, CERN Knowledge Transfer Group Entrepreneurship Development Officer, does not hide his admiration as well: “Currently there are 9 CERN incubators in whole Europe, but I can not say we see the results generated by the Lithuanian one every year, especially considering the young age of the incubator. We are pleasantly surprised by the abundance of application forms, the potential of the ideas that have reached the final stage of the program, and the ability to adapt existing CERN technologies and competencies”.

At the start of phase two, participants are asked to write a comprehensive business plan. A Selection Panel, composed of representatives from CERN, LIC, technology parks, and independent experts will select up to 3 proposals that meet CERN competences at the finest level. The winners will receive financial support of up to 40 thousand euros, will be invited to settle in one of the two technology parks (Vilnius or Kaunas), and will be able to use other incentives offered by the program.