Lithuania's Capital Vilnius to Get 'Europe's Largest Tech Campus,' Costing €100M

upstart writes:

Running 24/7, it'll be the Zity that never sleeps:

Lithuania is vying to become one of the major European tech hubs, bolstered by a growing number of so-called "unicorn" startups and governmental efforts to attract a high-profile accelerator to the country. At the same time, a new 100 million private initiative announced today is setting out to create what would be Europe's largest tech campus, situated in the heart of Lithuania's capital Vilnius.

Building on the site of an old Soviet-era sewing factory in the city's New Town, Tech Zity, as the project is called, is touted to open in 2024 with office space for 5,000 workers, auditoriums for meetings and events, and more. In addition, a core selling point will be its focus on hybrid working, with a 24/7 ethos supported by co-living spaces, restaurants and bars for out-of-work socializing.

At 55,000 square metres (592,015 square feet), Tech Zity would be nearly two-thirds bigger than Paris's Station F, which opened back in 2017.

[...] The Tech Zity project's funding hails from several sources. Of the planned 100 million fund required to fulfil the project, some 30 million has been committed so far, with Vinted co-founder and chief operating officer Mantas Mikuckas contributing around 80% of the initial tranche and Tech Zity founder Darius akaitis making up the remainder. This "primary" phase has involved buying the land and buildings, and laying the groundwork for the reconstruction required to transform the site. For the next phase, Tech Zity is looking to secure the additional 70million from various sources, including banks and private investors.

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