More Than Money: What Startups Need to Succeed
- Kamile Mazrime
- Jul 30
- 3 min read
Updated: Aug 6
In the noisy race for funding, it’s easy to forget that money alone rarely builds lasting companies. Across the startup world, and especially in Lithuania, the ventures that survive and scale do so not just because they’re bankrolled, but because they’re believed in, challenged, and guided. The real lifeblood of early-stage success often flows through shared wisdom, resilient networks, and a space to fail safely and try again with a better footing.
We at ROCKIT see this every day. We don’t claim to be at the center of the story, but we do try to be part of the reason founders move forward. Our work organizing acceleration programs, hosting hackathons, and offering close mentorship is grounded in a belief that young businesses grow best in ecosystems that give before they ask.
As Lina Žemaitytė - Kirkman, Head of ROCKIT, puts it: “One of the most overlooked factors in building a strong startup ecosystem today is long-term, community-based support that extends beyond capital. Startups don’t just need funding, they need the right people, spaces, and momentum at the right time. That’s what we try to build every day.”
That principle came to life in a recent conversation at ROCKIT with two Lithuanian founders who represent different stages of the startup journey: Ignas Miškinis, CEO of the early-stage startup Cogrant, and Liudas Kanapienis, CEO of the more established FinTech company Ondato.
“We thought we needed a polished product before showing it to anyone,” Miškinis admits. “But what we needed was evidence. Trying to build our way into certainty was a trap.” The shift came when his team started validating ideas before investing resources. “Now we test before we build. It’s saved us time, money, and energy. But here's the real kicker: until a customer pays you, their feedback isn't fully honest. Interest is easy to fake - payment isn't.”
Liudas Kanapienis, reflecting on Ondato’s early years, doesn’t point to capital as the main driver of growth, but rather to community and mentorship. “The insights we gained from other businesses and mentors were invaluable,” he says. “Being able to discuss our plans with people who had been through similar journeys made a huge impact.”
Both founders echo the idea that mindset and the environment that shapes it are more decisive than money. “If you want to dream big,” says Miškinis, “you have to treat startup building more like playing Monopoly than running a traditional business. Money comes and goes. If you overvalue early revenue, you avoid the risky decisions that lead to breakout growth.”
L. Kanapienis adds that being surrounded by other entrepreneurs created a shared rhythm. “Watching other companies succeed or struggle but keep going reminded us to stay focused and keep moving forward.”
Miškinis also points to a policy gap. “Most Western European countries offer small grants to help founders kickstart their ideas, but Lithuania does so rarely,” he explains. “Sometimes it’s worth burning a small amount of public money if even 1% of it leads to a massively successful business.” It’s a pragmatic argument for public-sector risk-taking - a recognition that bold ideas often need a small push to find their feet.
Both founders credit early feedback from field experts as a defining ingredient in shaping their products and decisions. As L.Kanapienis puts it, “Early insights from professionals in the field played a key role in shaping our product.”
Lithuania's strength doesn’t lie in overblown promises or flashy narratives; it lies in how quietly its ecosystem works. Startups here are learning, testing, failing, and growing in a culture that values traction over talk. Hubs like ROCKIT support that rhythm by focusing not on headlines, but on helping the next generation build real momentum.
For investors searching for real opportunities in a fast-developing region, Lithuania is no longer a frontier; it’s a foundation. And for the startups being built here, the message remains: it’s not just about money. It’s about where you're building, and who’s building with you.
In the end, Lithuania’s startup strength is grounded in its ecosystem mindset. From the grassroots experimentation encouraged by hubs like ROCKIT, to the hard truths exchanged between founders and mentors, to the still untapped potential of smart public funding - the message is clear: Startups need more than money. They need places, people, and purpose.
