Startup Fair. Pulse 2024 Reflections & Insights

Discover our key takeaways from Startup Fair 2024, plus practical tips from founders & industry leaders on growing your startup's success!

Raimonda Kriaučiūnaitė, Creative Copywriter & Project Manager

10/29/2024

There’s one day every year that startups across Lithuania are waiting for more than anything else – one filled with inspiring presentations, fierce pitch battles, and, of course, endless networking. It’s the day everyone gears up for. It’s a drum roll, please… Startup Fair, organized by Startup Lithuania, the Innovation Agency of Lithuania, and the Ministry of the Economy and Innovation of the Republic of Lithuania!

For the Linkedist team, Startup Fair is one of the main industry events of the year, bringing our international team together here in Vilnius. 

In this post, we’ll be sharing valuable tips straight from founders, insider advice on how to prepare for industry events, and key takeaways from this year’s Startup Fair. Whether you're an experienced entrepreneur or just starting your journey, these insights will help you make the most of every networking opportunity and build a strong personal brand as a founder.

Linkedist team
Linkedist team

Startup founders often face tough challenges, but through resilience, focus, and smart decision-making, they manage to steer their ventures toward success. Here are some of the most valuable insights shared by successful founders and industry leaders to help guide your startup’s journey.

Learn from Founders & Industry PROs: TOP Tips for Your Startup’s Success

Dmitry Gurski, CEO of Flo Health, emphasizes that when you are building a startup, setbacks are inevitable, but the key is to push through them. Success doesn’t mean the work is over; in fact, it’s the moment when you need to double down on your efforts.

Creating a startup is not just about having fun; it's about the vision of building something meaningful. Each time you experience a setback, you should work really hard, and when you find success, you should work even harder. To build a startup, you need to be irrational, stubborn, and optimistic.” – Dmitry Gurski

Startups require not just optimism, but a combination of irrational persistence and adaptability to make it through the ups and downs of entrepreneurial life.

1. Resilience and Hard Work Are Non-Negotiable
Dmitry Gurski
Dmitry Gurski
2. Have a Clear Purpose in Your Outreach

Cate Lawrence, Senior Writer at Tech.eu provides crucial advice for startups looking to gain media exposure. Reaching out to journalists can be competitive, so being clear and concise right from the start is essential.

"When it comes to PR and startups, it’s essential to have a clear purpose when reaching out to journalists. We receive a lot of pitches, so start early by introducing who you are and what you’re doing, ideally in the first few lines." – Cate Lawrence

It’s all about clarity and timing. Don’t wait until the last minute to start building relationships with the media. Establish rapport early on, and don’t forget to make your pitch stand out by keeping it simple, impactful, and relevant.

Rick Kelley, ex-MD of META Ireland, shares several vital financial and operational tips for startup founders. First and foremost, take the money when it’s offered. Startups can face lean times, and having extra capital could mean the difference between survival and closure. Rick also cautions against chasing profitability too soon.

"If you're aiming to raise 100K or 400K but have the chance to raise 800K, go for the extra funds - money doesn’t last long. Don’t chase profitability at the expense of scaling; many founders sacrifice growth for immediate profit." – Rick Kelley

3. Capital and Growth Strategy Are Key
4. Focus and Resilience Matter

Wouter Vorstman, an Investor at Piton Capital, believes that smart and resilient founders are the ones who stand out in the investor's eyes. More importantly, startups need to focus on the right priorities – particularly building and growing the venture in a sustainable way.

"When I’m looking for startups to invest in, I am looking for the founders who are smart and resilient. Focus is also crucial - it's important to concentrate on the right things, specifically on building and growing the venture." – Wouter Vorstman

For any founder, maintaining a laser focus on growth while remaining adaptable is essential to long-term success.

Wouter Vorstman
Wouter Vorstman

Thomas Bigagli, Partner at Plug and Play Ventures, stresses the importance of validating your product or service early on. Founders need to test their assumptions and continually seek feedback from their target market.

"Get market validation as early as possible. Always try to validate your assumptions and never take them for granted. You’re not developing a service or product for yourself; you’re creating it for the market." – Thomas Bigagli

Engaging with your audience early and co-developing solutions based on feedback ensures that you’re solving real problems, not just what you think the market needs.

5. Validate Your Product Early and Often
6. Courage Pays Off

Neringa Šeperienė, CEO and Co-Founder of BrachyDOSE, gives simple yet powerful advice: Be brave. Starting a company is risky, but it’s those who take bold steps who often reap the biggest rewards.

"I would say one thing - be brave, and it will pay off."Neringa Šeperienė

Bravery, combined with the willingness to embrace uncertainty, can often separate the successful from the unsuccessful in the startup world.

Apolinaras Sinkevičius, Finance Executive, suggests that Lithuanian founders, in particular, could learn to be more confident when entering the U.S. market. The process might be slow – whether it’s in closing deals or securing funds – but persistence pays off.

"If startups plan to enter the U.S. market, it’s crucial to understand that things often take longer. Stay confident and persistent." – Apolinaras Sinkevičius

The key takeaway? Patience is crucial when entering larger, competitive markets like the U.S. Don’t let delays discourage you from your long-term goals.

7. Confidence and Patience Go Hand in Hand

Attending major industry events like Startup Fair can be a game-changer for startups. These events offer unique opportunities to network, pitch your ideas, and connect with potential investors, partners, and media.

However, preparation is essential to making the most out of these high-energy environments. From doing your homework to staying flexible, here are some strategies to help you succeed at your next big event.

Making the Most of Big Industry Events

To ensure a successful event, start preparing in advance. Some of the steps we recommend considering:

  • Book meetings in advance on apps like Pine. Use networking platforms to schedule meetings with attendees before the event. Early planning ensures you secure valuable connections.

  • Connect with target people on LinkedIn. Research key attendees and send personalized connection requests beforehand. This builds rapport and sets the stage for in-person introductions.

  • Have your LinkedIn QR code ready. Make contact sharing easy by having the QR code saved on your phone’s lock screen. It’ll save you time!

  • Plan your agenda. Review the event schedule and prioritize the sessions and people you want to meet. Having a plan will keep you focused and maximize your time.

  • Prepare your elevator pitch (yes, even unicorns need it!). Practice a clear, concise pitch that explains who you are, what your startup does, and what you’re looking for. Be ready to share it in both formal and casual settings.

Do Your Homework
Even unicorns need a good pitch
Even unicorns need a good pitch
Stay Open and Flexible

While planning is essential, it’s just as important to stay flexible during the event.

Canceled meetings, delayed schedules, or unexpected opportunities can arise at any moment. Be prepared for some of your pre-scheduled meetings to fall through, but don’t let that discourage you.

Sometimes, the best connections happen in unplanned moments – like striking up a conversation while waiting in line for coffee or attending a session you hadn’t originally planned on.

By staying open to changes and embracing spontaneity, you’ll not only enjoy the event more but also create space for meaningful, unexpected connections.

Apolinaras Sinkevičius, Finance Executive, suggests that Lithuanian founders, in particular, could learn to be more confident when entering the U.S. market. The process might be slow – whether it’s in closing deals or securing funds – but persistence pays off.

"If startups plan to enter the U.S. market, it’s crucial to understand that things often take longer. Stay confident and persistent." – Apolinaras Sinkevičius

The key takeaway? Patience is crucial when entering larger, competitive markets like the U.S. Don’t let delays discourage you from your long-term goals.

What Comes After the Event? Leverage LinkedIn to Turn Connections Into Opportunities

Big industry events are full of potential, but it's how you approach them that makes the difference. With proper preparation, an open mindset, and strong follow-up, you'll turn every connection into an opportunity. Get out there, enjoy the experience, and watch your network – and your startup – grow!

We know we inspired you to attend many more industry-related events, and we won’t leave you empty-handed. Check our blog post on B2B Marketing & Sales Events, taking place in 2024 & 2025.

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