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

Invest Like a Boss

Sam Marks Johnny FD Derek Spartz

Business, Investing

4.8 • 518 Ratings

🗓️ 1 July 2019

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

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.

Links:

Check out the new Invest Like a Boss Summit in Vegas!

Where we are:

Sam Marks, Johnny FD & Jone Vaituleviciute - Vilnius, Lithuania

Discussed:

ILAB 75 – Impact Investing – Running the Vatican’s Accelerator with Steve Forte

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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Transcript

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0:00.0	Welcome to the Invest Like a Boss podcast. I'm Sam Martz and I'm Johnny FD. We're self-made entrepreneurs who invest our own money and use modern technology to invest like a boss.
0:09.2	Join us each week for exclusive interviews with our network of modern investors, business owners, and multimillionaires to discover new ways to invest our hard-earned cash.
0:19.0	Hey bosses, this is Johnny and welcome to episode 123 and invest like a boss podcast.
0:25.4	I'm sitting across live from Sam Marks here in Vilnius, Lithuania.
0:30.2	Hey Johnny, hey bosses.
0:32.4	Johnny, tell me how you liking your time in Vilnius so far.
0:35.5	I really like it here.
0:36.7	It's like the cheaper version of Western Europe, like all the benefits of nice, you know,
0:44.9	big kind of popular cities, right?
0:46.9	You know, whether it's Paris or London or Estonia, Prague, you know, any of these places
0:52.7	you've heard of.
0:53.7	Vilnius is just as nice. The food is amazing. The people are great. And it's like the nicer, cleaner version of Ukraine, but cheaper version of Western Europe. It's kind of right in the middle. There you go. Yeah, I agree. I was talking to this guy as CEO in Oslo the other day. And we're just doing a video call catch up on some business stuff
1:13.5	and he's like, where are you? I'm like Vilnius. He's like, oh, Vilnius, my second favorite city in Europe.
1:19.1	I was like, wow. I go, what was your first? You know, I guess? Oslo? No. Oslo was three for Barcelona.
1:25.8	And I was like, you know, I'm pretty much right there with you.
1:29.0	Barcelona is number one.
1:30.0	Vilnius.
1:30.6	I'm very happy with my time here and decision to come here.
1:33.7	I think it's a very, it's a city that's going to get a lot more attention in the coming years for all types of people.
1:41.7	It's great.
1:42.3	Yeah, I definitely think so.
1:43.4	But I'm also glad that it's not
	...

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