Vilnius will see the appearance of a new €100M tech campus in 2024
Vilnius will see the appearance of a new €100M tech campus Tech Zity in 2024. The project has already raised about €30M from a co-founder of the Lithuanian marketplace Vinted and co-founder of venture fund Practica Capital Mantas Mikuckas (contributed around €24M) and Tech Zity founder Darius Žakaitis (€6M).
This money has covered buying the land and buildings and laying the groundwork for the reconstruction required to transform the site. Another €70M Tech Zity will receive from various sources, including banks and private investors.
Tech Zity campus will occupy 55K M2, including office space for 5K workers, auditoriums for meetings and events, and 70-80 co-living loft spaces, built above the offices. Other services, such as a sports club, beauty services, and restaurants, will be available for employees and residents. The campus will be open 24/7 and designed to support a hybrid work format.
The offices of Tech Zity will welcome startups, individual freelancers, local companies ranging from five to 300 employees, and international companies, incorporated in Lithuania. The tech campus is expected to be the largest hub in Europe.
Tech Zity will be built on the site of an old Soviet-era sewing factory in the city’s New Town, 2 miles from the center. The real estate company will use original materials during construction, for example, adapting old sewing machine parts for chairs and phone booths, repurposing old ventilation systems for boardroom tables, and kitting out new kitchens.
Tech Zity is constructed by real estate company Tech Zity, which has already launched four smaller hubs in Vilnius and its surroundings, with a total space of 20K M2, including Tech Park (converted from an old hospital back in 2016), Tech Loft (targeted at seed-stage startups), a hybrid co-working and events space Tech Arts, and a work-resort crossover Tech Spa.
According to Darius Žakaitis, the campus will foster a startup community, allowing them to work next to each other, exchange knowledge and experience, discuss vital issues such as growth hacking and bootstrapping with limited budgets, enter larger markets, leverage AI capabilities, attract investments and develop funds, and more.
