ILAB 123 – Inside an Accelerator, with Startup Wise Guys’ Jone Vaituleviciute

“We haven’t had a bankruptcy in a classical sense amongst our team.”

– Jone Vaituleviciute

Jone Vaituleviciute is a partner at Startup Wise Guys, Europe’s most experienced B2B startup accelerator and one of the most active early-stage investors in the Nordics.

During this episode, Jone will reveal details on the 3 month-long on-site mentors driven program held in either Tallinn (Estonia), Riga (Latvia) or Vilnius (Lithuania). Learn how they help teams position themselves to raise the next funding round within 6 months. Find out how founders support themselves during early-stage accelerators and discover your chance of survival as a new startup. Listen to the end for practical use cases of bitcoin and cryptocurrency including insight into the future of blockchain.

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Listen to ILAB 123 on iTunes here or subscribe on your favorite podcast app.

ILAB 123 Show Notes


Links:

Where we are:

  • Sam Marks, Johnny FD & Jone Vaituleviciute – Vilnius, Lithuania

Discussed:

Recommended:

  • ArtofFX– Start with just a $10,000 account (reduced from $25,000)
  • Fundrise– Start with only $1,000 into their REIT funds (non-accredited investors OK)
  • Betterment– Get up to 1 year managed free
  • PeerStreet– Get a 1% yield bump on your first loan
  • Wealthfront– get your first $15,000 managed free

Time Stamps:

  • 00:34 – The joy and beauty of traveling Vilnius, Lithuania
  • 04:05 – Practical use cases of bitcoin, cryptocurrency, and blockchain
  • 13:25 – What is an accelerator?
  • 15:56 – Attracting quality talent to the local area
  • 18:43 – The entire process explained for startups
  • 20:15 – What is a term sheet and how do you use it?
  • 23:10 – How founders support themselves during early-stage accelerators
  • 25:06 – What is your chance of survival as a new startup?
  • 26:01 – “80% of our companies, out of a portfolio of 150, continue working on and growing.”– Jone Vaituleviciute
  • 26:20 – What happens if your company fails?
  • 26:38 – “We haven’t had a bankruptcy in a classical sense amongst our team.”– Jone Vaituleviciute
  • 27:12 – Utilizing the portfolio management program
  • 28:23 – Demo Day expectations and walkthrough
  • 31:46 – Embracing an international family-style network 
  • 35:00 – Greetings and farewell in other languages
  • 42:01 – Contemplating the future of blockchain

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