L
ithuania is a notable player in the proptech industry, punching above its weight with a population of just 2.9 million people. The country's success can be attributed to its high-quality public education system, which produces a large number of skilled IT and engineering professionals. This talent pool, combined with a strong cultural emphasis on innovation and entrepreneurship, has created an environment conducive to proptech growth.

    According to Beatrice Laurinkute Kijeviciene, CEO of Strato Create, a software as a service (SaaS) platform based in Vilnius, Lithuania's independence from the Soviet Union in 1990 sparked a national appetite for innovation and growth. This mentality has driven the country's desire for home ownership, particularly among families with growing populations.

    Lithuania's educational system produces a high volume of skilled professionals in IT, material engineering, and programming, which is further fueled by a strong culture of quality construction. The harsh winters and high humidity in Lithuania require builders to create durable and energy-efficient homes, driving innovation in the industry.

    The government plays a supportive role by enforcing digitalized processes for permitting and other related documents, speeding up the pace of building. Nonprofit organizations focused on the industry also contribute to its growth. PropTech Lithuania, the country's leading trade organization, connects startups with established companies, corporations, and the construction industry, facilitating collaborations and driving innovation.

    PropTech Lithuania has grown rapidly since its inception three years ago, now comprising 50 companies, including 28 proptech startups. The organization aims to make Lithuania a global innovation hub for real estate, with prominent members such as Dextall, Exergio, PVCase, and Profitus.

    Martin Eitmonas, president and co-founder of PropTech Lithuania, attributes the country's success to its ability to move quickly and reach decision-makers rapidly. The organization hosts events and community meetups, bringing together founders, CEOs, and shareholders from various industries to exchange ideas and drive innovation.

    Lithuania's proptech sector faces challenges, including limited funding for startups. However, companies like Dextall have successfully attracted investments, and organizations like Plug and Play are working with the government to accelerate startup growth.