Cluster of Social Innovations, Lithuania

We are a network of socially responsible organizations and companies.

In line with our common values ​​and goals, we seek systemic positive change and breakthrough in the country by designing, developing and disseminating innovative solutions to social challenges and problems for the most vulnerable target groups in society that are experiencing social exclusion.

The cluster is open to a variety of approaches that promote social inclusion and human-centered innovation. Its activities aim to strengthen the culture of communication between social groups and institutions with different interests.

Katalista Ventures

At Katalista Ventures we believe in catalysing and connecting people to help them achieve their potential while finding solutions to global challenges.

Therefore, we have founded Katalista Ventures as a hybrid startup accelerator and private equity fund to provide customised support, driven by experienced entrepreneurs and professionals in the Baltics.

We focus on supporting high-impact individuals & organisations to grow and scale sustainably through customised solutions and stepping-stone networks. Our portfolio consists of fintech and e-commerce ventures, however, we are excited to accelerate other resilience-focused organisations that match our approach. Additionally, we have clients from the NGO and social enterprise sectors.

We look for these features in the organisations we work with:

  • Resilience-based thinking

  • Triple Top Line approach to the solution

  • Global scalability

  • Potential for financial, environmental and social sustainability

Funding opportunities. Social business funding

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Helping businesses think bigger

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Reach for Change Lithuania

Reach for Change Foundation is based in Sweden. Reach for Change helps high potential social entrepreneurs that address pressing issues for children to develop more effective solutions and scale them faster and more sustainably than they would without our support. We find social entrepreneurs through our search and selection, and then help them to become investment ready to qualify for intensive support in our incubator programs It finds and supports local early stage social entrepreneurs who work towards one or more of the sustainable development goals set up by the UN. The entrepreneurs are supported to scale their innovations through capacity building, networks and funding, all in partnership with multiple sectors. Being Co-created by successful entrepreneurs in the non-profit and the business sector in 2010, we have supported entrepreneurs in 18 countries across three continents.

Key and distinct for our program implementation is that we have local knowledge and expertise of our markets. If we are to work with scaling social entrepreneurs and ensuring their impact on children we have to have the local knowledge and first-hand understanding of our target group – children and youth. Local knowledge is secured through local staff and locally executed programs.

Reach for Change Lithuania is a division of Reach for Change.

INVEGA

INVEGA manages financial instruments financed by the European Structural and Investment Funds and resources returned allowing small and medium-sized enterprises to start or expand their activities with a soft loan. Different types of loans provided by financial institutions are offered under different conditions. The best option to enhance SME’s access to finance is chosen according to the amount of the financial support needed and payment provisions.

Soft loans under the instrument Entrepreneurship Promotion Fund 2014—2020 offers the best conditions for newly established and young businesses with financing up to EUR 25,000.

Soft loans provided under the instrument Open credit fund 2 are designed for business development (both investment and working capital loans) and offers SMEs financing of up to EUR 600,000.

Instrument Risk-shared loans financed by the European Regional Development Fund offers loans for SMEs of up to EUR 4 million. The instrument is based on the principle of lending with the proportion of 45:55, under which the RSL Manager contributes by 55% of its own funds to 45% of the RSL loan/credit line share.

We issue loan guarantees

Businesses applying to banks and other credit institutions for loans to start or grow their business often face the challenge of collateral not being attractive or adequate enough for the bank or credit institution. INVEGA helps to overcome this challenge by offering individual and portfolio guarantees to financial intermediaries covering up to 80% of the credit.

Export credit guarantees issued by INVEGA help expand export markets in countries of non-marketable risk and grow export volumes by minimising the potential risks stemming from default by a buyer by covering up to 90% of the actual losses when a buyer fails to pay as provided for in the contract, or when a buyer goes bankrupt.

We provide global grants

INVEGA offers global grants aimed to facilitate SME’s market take-up and development, especially at the initial stage of self-employment, as well as help businesses save on daily expenses:

With the instrument Partial financing of Loan Interest INVEGA provides businesses compensations of up to 100% of the interest paid.

Borrowers of soft loans under the financial instrument Entrepreneurship Promotion Fund 2014–2020 are eligible for compensation of up to 75% of labour costs for every employee working under an employment contract with the instrument Business Start-up Subsidies.

Partial financing of staff training under the instrument Competence Voucher offers compensations of up to EUR 4,500 for training over a period of 12 months.

Businesses can receive compensation of their counselling expenses on export, business start-up and development or more efficient use of resources and conservation of natural resources with the instruments Expo Consultant LT, Eco Consultant LT and Business Consultant LT.

We create venture capital funds

INVEGA aims to grow Lithuanian venture capital market and broaden the availability of capital for start-ups and growing private Lithuanian companies. Venture capital funds together with partners-private investorsprovide investments and financial advices.

Baltic Innovation Fund launched by the EIF in close co-operation with the Governments of Lithuania, Latvia and Estonia aims to boost equity investments made into SMEs with high growth potential. Currently, the Fund invested into 5 funds: BaltCap Private Equity Fund, BaltCap Private Equity Fund II, BPM Mezzanine Fund, Livonia Partners Fund and Karma Ventures Fund I.

Venture Capital Fund is intended to promote the transfer of ideas generated in research and higher education institutions to business (commercialisation) and ensure greater availability of capital to micro, small and medium-sized enterprises developing products in high-technology sectors along with expert assistance in identifying innovative technology ideas having commercial potential.

Venture capital funds established by INVEGA together with its subsidiary UAB Kofinansavimas: Co-investment Fund designed for micro and small enterprises operating for up to 5 years since their registration that have limited access to business financing offered by banks. Co-investment Fund II designed for the development of the Lithuanian venture capital market, growth of new participants of the venture capital market, thereby increasing capital availability to new prospective Lithuanian companies that have limited access to business financing offered by banks. Co-investment Fund RDI aims to help the commercialisation of ideas generated in scientific and research institutions through the implementation of research, development and innovation (RDI) activities.

Business Angels Co-Investment Fund is intended to finance the diversified portfolio of co-investments with business angels and other private investors made from the seed to the development stage.

Enterprise Lithuania

Enterprise Lithuania is a non-profit agency under the Ministry of Economy and Innovation established to promote entrepreneurship (including social entrepreneurship), support business development and foster export. The team at Enterprise Lithuania is a reliable adviser and assistant for start, growth and export of national businesses with focus on SME’s.

European Social Entrepreneurship and Innovative Studies Institute

European social entrepreneurship and innovative studies institute (ESI), founded in 2010, and is non-profit organization which focuses on non-financial business supports (consulting, training, mentoring, and advisory, strategy development, etc.), accelerates global, innovation based impact entrepreneurship. We focus on opportunities to demonstrate, how we make a positive impact on society and create benefits for the public through innovative teaching methods, cause marketing strategies creation, and development of sustainable and responsible business models. Since 2010, Institute has been providing the highest quality training, consulting and support services to individuals and organisations from private, public and non-governmental sectors. ESI mission is to contribute to bringing global change through learning and development and to accelerate entrepreneurship to end global poverty and protect the planet. We envision a world where all people are architects of their own futures. ESI goals are: 1. to foster social innovations, 2. to facilitate inclusive, shared growth; 3.to reduce emigration; 4. to strengthen sustainable business environment; 5. to contribute to the creation of new businesses; 6. to contribute to the creation of new jobs.

Since 2010 ESI Supported 6789 learners through a range of learning and development programs, delivered 97 programs in leadership, management, coaching, entreprise, learning and social impact, tailored to the needs of learners in 27 different countries across Europe and beyond; delivered 5 programmes in entrepreneurship with ECTS credits recognized by universities; worked in partnership with over 421 partner organizations across a range of sectors and disciplines in 37 countries; engaged with 1632 unique organisations across the third, private and public sectors; facilitated programs through a network of 378 practionaire and specialist associate mentors with a wide range of experience, skills and geographical reach; engaged with 168 volunteers and 178 interns; employed 138 people in partner organizations; incubated 97 startups through different incubation programs; developed strong partnerships with 84 schools in Lithuania and Europe; developed strong partnerships with 5 universities in Lithuania and 67 universities in the World; Developed cause marketing consulting department, which connects private businesses with non-profit organizations; created a network of entrepreneurs with 698 members from all over the world; was involved in 5 working groups with policy makers; was involved in 23 very active international consortiums; initiated 5 social initiatives which created jobs for disabled people and NEETS; organized 187 events and summer camps promoting entrepreneurship; was involved in 37 different social initiatives of different organizations in 27 countries; represented results in 17 international fairs and expos in United Kingdom, Germany, USA, Japan, France, Italy, Spain and Portugal; received European Commission award for quality and excellence; was certified by Travel Life which proves social, economic and environmental impacts of created products and is the certificate issued for sustainable businesses; signed the agreement among Entreprise Lithuania, Kaunas University of technology and European Social Entrepreneurship and innovative studies Institute for social innovations and business development and to develop social innovations program “ChangeMakers’ON” which consists of hackathons, BoostCamps, Incubation and other events for social entrepreneurs; engaged with national media and signed agreements for promoting social entrepreneurship in Lithuania; Signed an agreement with venture capitalists (Blue Lime Labs) to become a pipeline for their accelerator.
Also ESI is the board and active member of: Global social entrepreneurship network which was created for organisations supporting early stage social entrepreneurs; Youth Pro Active which is an organisation aiming at creating a generation of proactive individuals ready to invest their talents for the betterment of society by starting their business and creating jobs for themselves and others; European Institute for Local Development; Lithuanian association of employers of service business; Lithuanian Association of Distance and e-Learning (LieDM association) which is a volunteer organization which unites all Lithuanian science, study, and education institutions which implement distance teaching and learning; Kaunas Chamber of Commerce, Industry and Craft and Lithuanian Social Business Association.

ChangeMakers’ON

Nowadays is more than popular to speak about global change, social impact, social innovations and a lot of different social things leading us to social entrepreneurship. But… the biggest challenge is – HOW to make this “social good” PROFITABLE and how to build the SUSTAINABLE business model at the same time creating the significant IMPACT? Too many tasks… be INNOVATIVE, be SOCIAL, be RESPONSIBLE, be… be….

C’MON (ChangeMakers’ON) is the 1st International Social Innovation and Entrepreneurship program full of hackathons – boost camps – incubator – trainings, which are made with passion, love, and goodwill of experienced partners.

Technology and innovation are crucially important and growing aspects of the social impact sector. C’MON wants to encourage all of us – makers, engineers, do-gooders, executives, computer scientists, inventors, innovators – are making things that are not just nice to have, but that people need. C’MON wants to join people in identifying, prototyping, and scaling technologies and practices making the World Better Place to Live.

It was created to empower all innovators to create social good based on innovations. ChangeMakers’ON doesn’t like small talks and ideas “on the paper”. ChangeMakers’ON was born to have a REAL RESULT in your hands.

Support organisation fighting poverty – NESst

NESsT is an organisation, whose purpose is to support social enterprises fighting poverty.

Currently the organisation has 10 running projects in Central European and Latin American countries and invest in 50 social enterprises in different countries. The organisation also supports Social Enterprises in the Baltic area.

NESsT supports social enterprises through:

Investment

“We leverage donations and patient capital from supporters into investments in social enterprises that generate dignified jobs for people most in need.”

Engagement

“We use an engaged approach providing tailored financing and one-on-one business development support to social entrepreneurs. We commit to these social enterprises for five to seven years, helping them through the tough transition of moving from startup to fully scaling businesses.”

Transformation

“Through their businesses, social entrepreneurs empower people in their communities with the hard and soft skills, technology and ongoing support they need to improve their livelihoods and create dignified futures.”

Contact: https://www.nesst.org/contact/

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