Supporting environmentally responsible projects: Tech Zity Lilium

At FO Consulting group, we’re delighted to commit to sustainability by working with environmentally responsible projects such as Tech Zity Lilium.

This initiative involves revitalizing the Lithuanian clothing factory Lelija, transforming it into Europe’s premier technology hub.

So, this time, we wanted to get insights on the project from Austėja Puzyna, the co-founder and CEO, as well as Daina Senapediene, the founder and attorney at FO Consulting group.

Can you share the backstory of how the collaboration between FO Consulting group and Tech Zity first took shape?  

Certainly, the collaboration with Tech Zity began when they were exploring locations for one of the most significant campus-type projects in Vilnius. Tech Zity, having already developed projects like Sapiegos Park and Tech Spa, identified the Lelija factory site as suitable for their vision. The existing buildings could be reconstructed, sustainability ideas could be implemented, and there was ample square footage.

To bring the project to life, Tech Zity sought investors or partners, leading to Mantas Mikuckas joining as an investor and FO Consulting group becoming involved as legal and financial advisors.

How does the Lilium project by Tech Zity align with the sustainability objectives of the FO Consulting group?

Well, the Lilium project by Tech Zity perfectly aligns with FO Consulting group’s sustainability goals. This initiative avoids over 5 thousand tons of CO2 emissions that would have resulted from traditional demolition and new construction. Lilium transforms the complex into Europe’s top tech hub, showcasing sustainability and FO Consulting Group’s values.

Could you provide an overview of FO Consulting group’s role in securing the 8 million euros bond insurance?

FO represented Project Lilium UAB, the property owner, in dealings with the bond underwriter Šiaulių Bankas, the trustee, former creditors, etc. Our responsibilities encompassed financial management, negotiations, and meticulous preparation of legal documents. We also played a role in preparing presentations and teasers for potential investors. Our goal was to make our bond insurance service attractive to them.

Were there any unexpected challenges or lessons learned during the project’s lifecycle?

In any project, unforeseen challenges arise, but a solid team and the right attitude can overcome them. Commercially, we faced the challenge of entering the market alongside well-known names like Modus Group and Civinity. Surprisingly, despite the competition, we were over subscripted, which was an exciting turn of events.

What indicates the success of this project?

Tech Zity Lilium is already attracting companies such as the first Lithuanian start-up, Omnisend, climate technology start-up HeavyFinance , education innovation start-up Turing College, and game development studio Pepi Play will be the first to set up in this technology and creative industries campus. FIRSTPICK, a venture capital fund that helps start-ups grow, will also be there!

It is estimated that the project will accommodate around 100 Lithuanian and foreign companies. Also, it will have a conference center for up to 1,000 participants with four spaces. Tech Zity Vilnius will also have co-working, educational, and sports spaces.

We have great confidence in the Lilium project. It is an integral part of the startup ecosystem that elevates our network. If you want to be part of Tech Zity’s exciting future, consider investing in this project with us!

To conclusion

Thank you so much, Austėja and Daina, for sharing the experience!

And, for those who are interested in Tech Zity Lilium as a rental for an investor, supplier, or investor, we invite you to contact us here.