Shipyard Doesn't Wait for Founders to Look Fundable. Neither Do We.

Outlast Fund is partnering with Shipyard to introduce an early-stage capital layer for the next generation of Baltic AI builders. Applications for the June 2026 cohort are now open.

Something has shifted. The best technical founders in the Baltics aren't waiting for permission anymore. They aren't polishing pitch decks or sitting in long feedback loops. They're shipping, testing, and building companies that compete on a global stage — often within weeks of forming a team.

That's the energy we saw when we first encountered Shipyard. And it's why Outlast Fund is proud to announce our strategic partnership with Latvia's AI company-building network — and the opening of applications for Shipyard's next batch, starting June 2026.

Why Shipyard, why now

The Baltic startup ecosystem raised a record €607 million in 2025, with AI accounting for a significant and growing share of total funding. As global capital moves earlier and competition accelerates, the opportunity window is narrowing. The founders who build with conviction now — before the market crowds — are the ones who will define the next decade of European tech.

Shipyard was built around a simple, uncompromising idea: turn top technical talent in the Baltics into globally competitive companies, systematically. Not through lecture rooms or structured curricula, but through relentless execution. The model is deliberately high-pressure — weekly accountability, continuous build cycles, and one non-negotiable rule: deliver every week, or exit.

The results from the inaugural cohort speak for themselves.

50%

of program completers became revenue-generating

<30

days average from idea to first shipped version

€5K+

monthly revenue reached by 4 teams by Demo Day

19 teams started. 8 completed the program with shipped products. 11 now have paying customers. 31 pivots happened across the cohort — not as failures, but as evidence of continuous user validation over static development. That's a builder culture, not startup theater.

Our role: a dedicated capital layer for high-potential teams

Through this partnership, Outlast Fund is introducing a dedicated capital layer into the Shipyard model. We're offering €50K+ inception tickets to high-potential teams — giving selected founders the financial backing they need to build with conviction from the moment they're identified, rather than waiting until after they've crossed the finish line.

This reflects a deliberate philosophy. We're not looking for founders who already have it figured out. We're looking for the ones who are clearly becoming it — executing consistently, validating relentlessly, and building in an environment designed to compress years of company-building into months.

"We're not waiting for founders to look fundable — we're backing them while they're becoming it. Latvia has the talent. What it's been missing is a system that keeps builders accountable and connected at the same time."

— Rihards Pīks, Co-founder, Shipyard

Over the next 16 months, Shipyard and Outlast Fund will fast-track 40 teams, focusing exclusively on founders who demonstrate consistent execution. Not the ones with the best decks — the ones who ship.

What Shipyard offers builders

Shipyard is building what the Baltic ecosystem has historically lacked: a high-density, AI-native founder environment. While AI is the horizontal technology layer, the ideas and products that emerge can span any industry.

Founders who join gain access to a curated network of top-tier technical talent, daily proximity to other builders for rapid feedback, direct connections to early enterprise customers for real-world validation, and continuous exposure to global investors and operators — alongside the dedicated capital layer from Outlast Fund and its partner network.

Two types of founders are a strong fit: early-stage teams with a working product or MVP and early traction who are seeking product-market fit and venture readiness; and first-time founders with strong technical or domain expertise who are ready to form a team and build from scratch. All applicants go through a structured evaluation process.

"Technical founders aren't waiting for permission. They're shipping, testing, and building companies that compete on a global stage. Shipyard was built to help them scale."

— Marija Ručevska, Founding Partner, Outlast Fund

Applications for the June 2026 batch are open now. If you're a builder in the Baltics — with a product, an MVP, or simply the conviction that you're ready to build — Shipyard's next cohort is the environment designed for you.

Apply at open.shipyardai.org ↗

Application deadline: 29 May 2026

Shipyard is a non-profit initiative  supported by the Outlast Fund, VNTRS (the leading venture studio in the Nordics) and implemented with the support of the Investment and Development Agency of Latvia (LIAA) and the European Regional Development Fund (ERDF), under the EU Cohesion Policy Programme 2021–2027, Measure 1.2.1.4 "Support for the Improvement of the Technology Transfer System" (Project No. 1.2.1.4/1/23/I/001).