Lithuania’s co-working and tech space company Tech Zity is getting a major upgrade, to the tune of a €100 million infrastructure project in Vilnius. When complete the new campus will be vying for ‘largest tech campus in Europe ‘ when it opens in 2024, standing at 55,000 sq. metres.
Why should such a project be built in Lithuania? Well, 'between 2017-2022, Lithuania has grown its digital economy by 16.8x annually - with the ecosystem now valued at over €9.5 billion - its becoming the fastest growing tech hub in CEE.
With sustainability at the core of the project it will see the renovation of old sewing factories in the area will house 5,000 tech workers – using sustainable build practices the project will ‘capture and save over 500 million tonnes of carbon throughout the development process’. Factory parts and structural elements will be used across site maintaining the building’s identity and history.
There is a promise of all the latest tech facilities that companies require to scale, with co-working spaces, private offices and event spaces, and the doors will never close, it’ll be open 24 hours so you never ever have to go home.
Actually you really don’t have to leave the office as there will be co-living spaces providing ‘tech workers with close-to-site homes, both close to work and the city centre’s extensive amenities and cultural hotspots’. Sound like you really never have to leave as the co-living space is built around ‘community outside of work for the inhabitants - providing access to bars, sports facilities and more, all on-site’.
“I started investing in the Vilnius tech ecosystem in 2009 - when you could recall the name of every tech worker in the city on first name terms, and you could fit the entire tech ecosystem in one room. Now the city is home to some of Europe’s best known tech firms - and we’re growing at a pace that requires significant investment in real estate infrastructure. Tech Zity is a first-of-its-kind project - in both ambition, being 30% larger than any tech campus developed previously in Europe, and in infrastructure terms - being the first to bring in every aspect of real estate that any technology business, from a pre-seed start-up, through to the likes of Google, can call their home in Vilnius,” says Darius Žakaitis, founder of Tech Zity.
The project is part-funded by Tech Zity’s existing operations - with support from Mantas Mikuckas, the COO and founder of Vinted. Tech Zity remains in talks with a number of investment banks, family offices and institutional investors for additional funding.
“Vilnius is maintaining a firm position within the European tech scene thanks to rapid innovations and visionary businesses such as Tech Zity. Bursting with innovative entrepreneurs, multinational talents, and ambitious investors, the capital has grown to a modern tech hub that evokes bold ideas, successful collaborations, and people-focused solutions. Tech Zity’s newest tech campus is a testament to the capital’s forward-thinking values,” says Valdas Benkunskas, Mayor of Vilnius.
Did you know that Lithuania is leading the way when it comes to women in tech? Cate Lawrence wrote a report on the very subject.